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Repayment of student loans

  • Posted On: 12 April 2017
Repayment of student loans Student loans are part of the government’s financial support package for students in higher education in the UK. They are available to help students meet their expenses while they are studying and it is HMRC’s responsibility to collect repayments

Employer P11D, P11D(b) and P9D deadline

  • Posted On: 12 April 2017
Employer P11D, P11D(b) and P9D deadline Employers are reminded that the deadline for submitting the 2016-17 forms P11D, P11D(b) and P9D is 6 July 2017. P11D forms are used to provide information to HMRC on certain benefits and expenses that employees and directors receive during the tax

Welsh land transaction tax

  • Posted On: 12 April 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 marks the first new Welsh tax in almost 800 years and has moved a step closer following the passing of the Bill

Working Tax Credit

  • Posted On: 12 April 2017
Working Tax Credit The Working Tax Credit (WTC) assists taxpayers on low incomes by providing top-up payments including to those who do not have children. There are extra amounts available for qualifying childcare expenses and working households in which someone has a

Let property campaign

  • Posted On: 12 April 2017
Let property campaign HMRC’s Let Property Campaign provides landlords who have undeclared income from residential property lettings in the UK or abroad with an opportunity to regularise their affairs by disclosing any outstanding liabilities, whether due to

Rent-a-room scheme

  • Posted On: 12 April 2017
Rent-a-room scheme The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room. The limit increased to £7,500 from 6 April 2016 and remains at the same level for the current tax year 2017-18. HMRC’s rent-a-room scheme guidance has been

Personal tax changes for 2017-18

  • Posted On: 06 April 2017
Personal tax changes for 2017-18 A number of changes to personal taxation have come into effect with the start of the 2017-18 tax year. These changes include the following: National Living Wage and the National Minimum Wage rates The new National Minimum Wage (NMW) and National

Business tax changes for 2017-18

  • Posted On: 06 April 2017
Business tax changes for 2017-18 A number of changes to business taxation have come into effect with the start of the 2017-18 tax year. These changes include the following: Corporation Tax The Corporation Tax rate from 1 April 2017 has been reduced to 19% and set at this rate for

Mortgage relief restriction for landlords

  • Posted On: 06 April 2017
Mortgage relief restriction for landlords The tax relief available to residential landlords has been reduced from the start of the 2017-18 tax year. The new rules mean that tax relief on mortgage costs will be gradually restricted to the basic rate of tax. Landlords of residential properties

VAT Flat Rate Scheme

  • Posted On: 06 April 2017
VAT Flat Rate Scheme HMRC has introduced an additional test from 1 April 2017 that will help determine the VAT flat rate percentage used by VAT registered businesses that use the Flat Rate Scheme. It appears that HMRC considers the benefits obtained by certain businesses