Category Archives: Legislation

Budget 2020 – How It Affects You

Key Points For The Budget 2020 Whilst the Chancellor’s budget 2020 was heavily focused on boosting the economy to mitigate the effect of coronavirus, it didn’t stop him from implementing a number of pledges. To help our clients understand the impact this will have on them and their businesses, we’ve identified a few key points that may be of interest. Base Lending Cut From 0.75% to 0.25% Before Rishi Sunak got the chance to deliver his debut Budget, The Bank of England opened up proceedings with an announcement that £10bn will be deployed from business and bank support reserves to […]

Big Changes To Tax Relief For Landlords

If You Are A Landlord There Are A Number Of Tax Changes Coming Which Will Affect You From changes to Capital Gains Tax payment dates to the abolishment of mortgage interest relief, there’s plenty to take in. That’s why we’ve put it all together so you know where you stand. The changes will take effect from April 2020 and will affect almost all sales of additional properties in the UK. Change To Capital Gains Tax Payment Dates Capital gains tax incurred on the sale of a property is currently paid through your self-assessment tax return. Therefore, it doesn’t need to […]

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.