Category Archives: Legislation

Income Tax Bands are Changing

You may have heard the news that the government is implementing some changes to the tax bands for income tax. These changes are likely to affect all individuals paying income tax, so we thought we’d put together a quick article on what these changes will entail.

The Latest Minimum Wage Changes are Coming In

You may remember we brought you the previous news about increases in the minimum wage back in October of last year. In April, the minimum wage is set to rise again, so we thought we’d bring you this quick update so you’re in the know.

Upcoming Changes to the VAT Flat Rate Scheme

As part of the Autumn Statement, the government has stated that they are changing the Flat Rate VAT Scheme, ostensibly to combat “aggressive abuse” of the scheme. Unfortunately, the changes have the potential to affect many small businesses who are making legitimate use of the scheme.

Minimum wage has risen again

The Government has accepted recommendations from The Low Pay Commission (LPC) to increase minimum wage for under 25 year olds and apprentices from 1st October 2016.

A present from HMRC

The new guidelines relating to ‘tax exemption for trivial benefits in kind’ (a bit of a mouthful) means that you can now provide employees with a little something extra – and reduce their tax bill in the process.

Understanding the 7.5% Dividend Tax

Let’s take a look at the new rates of dividend tax, the tax-free allowance, and what these changes mean for your business.

There have been new changes in the legislation regarding how business owners are required to register the people with significant control (PSCs) within their business.

As with all new changes in legislation it is important to ensure that your business is meeting the new requirements.

The 2016 Budget

George Osborne delivered a budget which backs small businesses, his eighth budget as Chancellor. The budget highlights include prepared tax cuts, reliefs and duty freezes for businesses.