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….
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Minimum Wage increases
The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 March 2019. The guidance states: ‘You can use the previous rates for up to one month…
2019 Payslip Legislation
The month of April welcomes a number of legislative changes that you will be expected to adapt to, including the fact that the right to an itemised pay statement will…
Plotting a course through the Brexit fog
2018 in review, what COULD we expect for 2019 and our thoughts on what you should be doing As one of four practicing financial advisers within Simpson Wood, questions and…
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…
Leaving the EU with no deal
The government has published a collection of documents in preparation for the scenario of the UK leaving the EU without a Withdrawal Agreement a so called ‘no deal’ Brexit. The…
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…
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