0113 246 1234

News Stories

VAT Flat Rate Scheme – limited cost traders

  • Posted On: 15 June 2017
VAT Flat Rate Scheme – limited cost traders The VAT Flat Rate Scheme (FRS) was introduced to ease the process of calculating and submitting VAT returns for smaller businesses - the FRS is only available to businesses that expect their annual taxable turnover in the next 12 months to be no more

Main Residence Nil Rate Band

  • Posted On: 15 June 2017
Main Residence Nil Rate Band The impact of Inheritance Tax has been reduced recently for families that own their own home. HMRC has introduced a new relief, the Inheritance Tax main residence nil-rate band (RNRB), which came into effect on 6 April 2017. The RNRB is a

Marginal rate of Income Tax

  • Posted On: 08 June 2017
Marginal rate of Income Tax For high earning taxpayers the personal allowance is gradually reduced by £1 for every £2 of income over £100,000 irrespective of age. This creates an effective marginal rate of tax of around 60% for tax payers with annual income between £100,000 and

EU Fourth Money Laundering Directive

  • Posted On: 08 June 2017
EU Fourth Money Laundering Directive The EU Fourth Money Laundering Directive which makes sweeping changes to combatting money laundering and terrorist financing across the EU will be implemented into UK law on 26 June 2017. As a result, Companies House has made changes to the current

Welsh land transaction tax

  • Posted On: 08 June 2017
Welsh land transaction tax The new land transaction tax (LTT) which will replace the UK stamp duty land tax (SDLT) in Wales will be launched on 1 April 2018. The LTT legislation received Royal Assent on 24 May and is the first Act of this Assembly term. The LTT marks the

Corporation Tax online filing

  • Posted On: 08 June 2017
Corporation Tax online filing Company Tax returns have to be filed using the iXBRL data standard using either HMRC's own software or third-party commercial software. Businesses that use third-party commercial software should refer to the HMRC list of recognised commercial

Pension schemes newsletter

  • Posted On: 08 June 2017
Pension schemes newsletter A new pension schemes newsletter has been published by HMRC. The latest edition of the newsletter includes details of the following topics: Pension advice allowance. HMRC has been asked by pension scheme administrators if their members can request

Insurance Premium Tax increase

  • Posted On: 08 June 2017
Insurance Premium Tax increase Insurance Premium Tax (IPT) is a tax on general insurance premiums. There are two rates a standard rate of 12% and a higher rate of 20%. The higher rate applies where insurance is sold in relation to goods and services which are subject to VAT and to

VAT education exemption case

  • Posted On: 01 June 2017
VAT education exemption case A complex VAT case that examined the VAT liability of restaurant meals provided to the public, and charges for concerts and other performances organised by students as part of their further education courses at Brockenhurst College has almost reached

Pensions regulator new enforcement action

  • Posted On: 01 June 2017
Pensions regulator new enforcement action Automatic enrolment into workplace pensions has been rolling out across the UK since 2012. It is expected that all employers will be part of the scheme by early 2018. Employers failing to comply with their auto-enrolment duties and missing their