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Tax Tips and News

  • New Budget timetable and Spring Statement date confirmed

    Newsletter issue - January 2018.HM Treasury has confirmed that the Spring Statement will take place on Tuesday 13 March 2018. At Autumn Statement 2016, the Chancellor announced that in future there will be a single fiscal event each year - the annual Budget statement, which will be delivered in the autumn. Autumn Budget 2017 was…Read More

  • Fulfilment House Due Diligence Scheme

    Newsletter issue - January 2018.The new Fulfilment House Due Diligence Scheme will open for online applications on 1 April 2018. From that date, businesses in the UK that store any goods imported from outside the European Union (EU) owned by, or on behalf of, someone established outside the EU, will need to apply for HMRC…Read More

  • Consider a partnership

    Newsletter issue - January 2018.Whilst forming a partnership can be an extremely flexible way for two or more people to own and run a business together, it is important to appreciate that under this type of trading vehicle, the partners themselves do not have individual protection. If one of the partners resigns, dies, or goes…Read More

  • New tax bands announced in Scottish Budget

    Newsletter issue - January 2018.In the Scottish Budget, which took place on 14 December 2017, Scotland's Financial Secretary, Derek Mackay, announced that two thirds of income taxpayers will pay less next year on their current income. However, new bands of income tax were also announced, which will see taxes rise for Scottish taxpayers in the…Read More

  • January questions and answers

    Newsletter issue - January 2018.Q. I have recently bought a residential property to rent out. To enable me to purchase this property I took out a mortgage on my own home and I used the money to buy the rental property. Can I claim tax relief for mortgage interest against my rental income? A. You…Read More

  • January key tax dates

    Newsletter issue - January 2018.1 - Due date for payment of Corporation Tax for the year ended 31 March 2017 14 - Return and payment of CT61 tax due for quarter to 31 December 2017 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/1/2018 or quarter 3 of 2017/18 for small…Read More

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