Self-employed Class 2 National Insurance will not be scrapped
The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019. Class 2 NICs are currently paid at a rate of…
Requirement to Correct – ACT NOW
30 September 2018 – a vitally important date for all those who have previously undisclosed offshore income and gains. This is the date by which a full disclosure of any such…
Bank of England Raise Interest Rate
The Bank of England has raised the interest rate from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009….
Making Tax Digital for VAT
HMRC has published further information on Making Tax Digital for VAT (MTDfV). The VAT notice sets out some further details of the MTDfV regime, which will ultimately require taxpayers to…
Scotland Introduces relief for First Time Buyers
First-time buyers in Scotland will be helped to purchase their first home through a new tax relief which applies to Scottish Land and Buildings Transaction Tax (LBTT). According to the…
Next Round of Tax Draft Legislation Published
The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation, and ‘continues the government’s commitment to a competitive and fair tax system’. The draft…
One Million Couples Still Elligible for £900 Tax Boost
HMRC has highlighted that three million UK couples have already taken advantage of Marriage Allowance but a million more are still eligible for the tax break. The Marriage Allowance allows…
Use Tax-Free Childcare Over the Summer Holidays
The Government is reminding ‘stressed out parents’ that help may be available for childcare costs during the summer holidays. According to a YouGov poll, 31% of parents feel stressed trying…
Tribunal Rules BBC Journalist is Caught by IR35 Legislation
A First Tier Tribunal has ruled that Christa Ackroyd who presented BBC news programme Look North and was paid via a personal service company was caught by the IR35 rules…
Advisory Fuel Rates For Company Cars
New company car advisory fuel rates have been published which take effect from 1 March 2018. The guidance states:’You can use the previous rates for up to one month…
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