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Are you ready for Making Tax Digital (MTD) for VAT?

From 1 April 2019, VAT registered businesses with turnover above the VAT registration threshold (currently £85,000) will be required to keep digital records and submit their VAT returns via the Making Tax Digital system (MTD). VAT registered businesses with turnover below the registration threshold will not be required to use

Pensions, a less taxing way

I have written several articles about Pensions following the dramatic changes Pensions Freedoms have made. To recap personal pensions are now much more simple, and very flexible long-term savings accounts. The only limitation for most is that they can’t currently be accessed until age 55, but if you could access

Which path for my child’s education?

Being a parent who has been through the education process with my two children who are now in employment, selecting schools can be extremely stressful. The potential high costs and commitment associated with private education, it soon becomes clear that this form of financial planning and decision making will require

Enforcement Options

Given the 33% increase in CCJs, it’s now more important than ever to know your enforcement options. The number of county court judgments increased dramatically in 2017. Whilst the November to December 2017 statistics are yet to the released, the statistics for the rest of the year show an average increase

Investments… Where next?

In the last edition, I outlined my thoughts that many asset values are looking expensive in historical terms. Just to remind you the US equity markets are at all-time highs, the UK market at the time of writing this very close to all-time highs, European markets are showing signs of

Dividends rates, they are changing

A dividend is a distribution of profit reserves by a company to its shareholders, and often represents a more tax-efficient method of remunerating a company’s management than through the payroll alone. The usual form of such distributions is in cash but can also constitute the issue of new shares in

Record keeping for your new business

So you have set up your business, you have decided on the trading style and started to make those first all-important sales. You may now be concerned about what is needed to ensure you comply with reporting and record keeping obligations? Self employed sole trader or partnership HMRC require you to keep

Final salary pensions

There has been much written in the media lately about Final Salary or Defined Benefit pensions. Whilst they have been a bedrock of pension planning for many larger employers over the years, the majority of them are now struggling to meet their long-term liabilities, and as the sponsoring employer is

Tax rates

4 Business guide to various tax rates 2017/18 Income tax allowances Personal allowance 11,500 Income limit for personal allowance 100,000 Marriage allowance 1,150 Married couple's allowance 8,445 Trading allowance 1,000 Property income allowance 1,000 Dividend allowance 5,000 Personal savings allowances for: Basic rate taxpayers 1,000 Higher rate taxpayers 500 Income tax bands Basic rate 0 - 33,500 Higher rate 33,501 -

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