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Pay Capital Gains Tax on property in 30 days

Residential property owners have had their fair share of tax changes to contend with in recent times. However, there is a further matter on the horizon which I don’t think has been particularly well publicised. This concerns a fundamental change to the administration of Capital Gains Tax for sales or

Making Tax Digital for VAT

Making Tax Digital (MTD) has now been with us since April 2019, so if you run a VAT-registered business and exceed the VAT registration threshold of £85,000 turnover, then you should be keeping digital records and using MTD-compatible software for sending VAT returns to HMRC. Deferred registration For businesses with what HMRC

Employment allowance changes

HMRC have announced that from April 2020, they will be introducing new rules and processes for claiming employment allowance. From the 2020/2021 tax year, HMRC will make employment allowance available to businesses and charities whose employer national insurance contributions (NICs) bill was below £100,000 in the previous tax year. Any companies

Delay off-payroll extension

The extension of off-payroll (IR35) rules to the private sector in April 2020 should be delayed by a year, following the cancellation of Budget 2019. Chancellor Sajid Javid intended to deliver his first Budget speech in November, only for it to be scrapped after a second Brexit extension was granted. In

Auto-enrolment awareness

An increasing number of employers are unaware of their workplace pensions responsibilities, according to a poll by the Pensions Regulator. Employers that have already staged have five ongoing duties when it comes to complying with auto-enrolment. These include keeping records of all auto-enrolment activities, and monitoring the ages and earnings of

Proposed new stamp duty surcharge

The Government is consulting on a new stamp duty surcharge for homebuyers who are not resident in the UK. Ministers have said they recognise the domino effect caused by non-UK residents purchasing homes and driving house prices up for buyers in England and Northern Ireland. According to figures from the Land Registry,

Auto-enrolment milestone

More than 10 million people have been brought into workplace pension saving through auto-enrolment, figures published by The Pensions Regulator show. As of 31 January 2019, 10.003m people were automatically enrolled into a pension scheme, leading Amber Rudd, Secretary of State for Work and Pensions, to call auto-enrolment “an extraordinary success

Grant funding

Whether you are running a cafe, operating a business from home, or perhaps looking to scale up, you will need funds to establish and grow your company. Depending on the type of business, this requirement may vary from a few hundred pounds to multiple thousands. It is helpful to know

Tax Dates – 4 Business guide to tax dates 2019/20

Accounts Unless filing the company’s first accounts, submission deadlines are normally: 9 months from the accounting reference date for a private company 6 months from the accounting reference date for a public company Confirmation statement  Due date is usually a year after either: the date your company incorporated the date you filed

Tax Rates – 4 Business guide to various tax rates 2019/20

Income tax allowances Personal allowance 12,500 Income limit for personal allowance 100,000 Marriage allowance 1,250 Married couple’s allowance 8,915 Trading allowance 1,000 Property income allowance 1,000 Dividend allowance 2,000 Personal savings allowances for: Basic rate taxpayers 1,000 Higher rate taxpayers 500 Income tax bands Basic rate 0 - 37,500 Higher rate 37,501 - 150,000 Additional rate 150,000 + Income tax rates Basic rate 20% Higher