Blog Archives

Buy-to-let Property

A guide for individual landlords on the recent tax changes. Whether you own 1 or 50 let properties, you need to be aware of the tax changes that have already started to take effect – and which will accelerate over

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HMRC 31st July 2017 Payments on Account

‘The end of July marks another tax deadline – for paying the second instalment towards your 2016/17 tax liability. If you are required to make payments on account then these are calculated as 50% of your 2016 tax liability each.

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Delayed Making Tax Digital Announced

Yesterday’s statement from the Treasury confirmed delays for the Making Tax Digital timetable. The new timeline shows that only businesses with turnover above the VAT threshold (£85,000) will need to keep digital records, will come under MTD in 2019, as they already

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HMRC Unleashes Super Computer

HMRC Unleashes Super Computer To Boost Investigation Prowess After several years of development and at a cost of £100m, HMRC has finally launched its latest weapon aimed at reducing the £36billion gap between what tax it should and does collect.

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Companies House are the only register of limited companies in the UK

This article by Companies House is very relevant at this moment in time, MJ Smith have seen several scams similar to the ones described below in recent weeks. ‘Have you ever received a letter asking for money to stay on

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Philip Hammond abandons plans to raise national insurance in wake of rebellion by Tory MPs

Philip Hammond has abandoned plans to raise national insurance for self-employed workers in this Parliament after admitting that it breached the “spirit” of the manifesto. The Chancellor provoked a furious reaction from Tory backbenchers after using his Budget to announce plans

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Death tax by stealth to rake in £1.5billion

Hammond is urged to ditch ‘stealth’ death tax that will rake in £1.5billion from bereaved families as Tories condemn it as a hangover from ‘sneaky’ George Osborne Currently, families pay Government £215 or £155 if they apply via solicitor, to

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MJ Smith Spring Budget 2017

Chancellor Philip Hammond described his first and last Spring Budget as one that “takes forward our plan to prepare Britain for a brighter future.” The economic forecasts outlined by the Office for Budget Responsibility (OBR) were broadly in line with

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Understanding dividends 2016

A guide to how dividend taxation will change from April 2016. The chancellor George Osborne wasn’t exaggerating when he said he was undertaking a “major and long overdue reform to simplify the taxation of dividends” in his Summer Budget speech.

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TRAVEL & SUBSISTENCE

This guide looks at employee benefits relating to travel and how they relate to the taxes that a business is liable for:  Source M J Smith & Co Newsletters  Accountants : Exeter For many businesses, regular employee travel is an essential

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When you can’t claim employment allowance

The employment allowance of £3,000 per year is available to most businesses and charities and can be used to be …
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Coventry named UK City of Culture for 2021

In a boost for the Midlands economy, Coventry has been named UK City of Culture 2021. The announcement was made …
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Selling your business – 10% tax may apply to sale

Entrepreneurs’ relief applies to the sale of a business, shares in a trading company or an individual’s interest in a …
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