Tax efficient investments ahead of the tax year end
With the end of the tax year looming there is still time to save tax for 2018/19. Make full use of your ISA allowance – ISAs can offer a useful…
Blog Posts
Scottish income tax bands confirmed for 2019/20
The Scottish Parliament has confirmed the income tax bands that will apply to Scottish taxpayers for 2019/20. The bands confirm the announcement made in the Draft Scottish Budget last December….
Inheritance Tax Review by Office of Tax Simplification
The Office of Tax Simplification (OTS) has published the first of two reports on inheritance tax. The first report sets out an explanation of the issues and complexities of IHT,…
Tax-free gifts to employees
Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A…
Committee warns small businesses ‘could pay heavy price’ for MTD
The Economic Affairs Committee has warned HMRC that small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTDfV). The Committee stated that HMRC has ‘failed to adequately support…
Third Time’s A Charm
And boy do these gents have a lot of charm, well at least that’s what they think! Some of the braver men of Simpson Wood swapped their calculators for the…
Preparing for Making Tax Digital for VAT
Making Tax digital is a key part of the government’s plans to make it easier for individuals and businesses to manage their tax affairs. The first stage of the government’s…
HMRC has published an updated list of deliberate tax defaulters
HMRC has published an updated list of deliberate tax defaulters. The list includes details of taxpayers who have incurred a penalty because they have either: deliberately provided one or more…
Deadline for ‘paper’ self assessment tax returns
For those individuals who have previously submitted ‘paper’ self-assessment tax returns the deadline for the 2017/18 return is 31 October 2018. Returns submitted after that date must be submitted electronically…
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…
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