Budget Booklet 2018

October 30, 2018 No comments yet

Chancellor Philip Hammond delivered the Autumn Budget to Parliament yesterday just five months before Britain is due to leave the European Union. He stated that the era of austerity is “finally coming to an end” but that the focus is continuing to reduce debt and borrowing. The key announcements were as follows:- An earlier than […]

Making Tax Digital (MTD)

August 25, 2018 No comments yet

Further to our previous Client Memo informing you of the impending Making Tax Digital (MTD) we write to provide more detailed information as far as that is currently available. MTD for businesses HMRC’s vision to digitalise the UK tax system has commenced. Businesses and landlords will be required to use commercial software to maintain their […]

GDPR & MTD

March 7, 2018 No comments yet

Hope everyone has managed to cope with the Arctic chill and the thaw out that’s been causing havoc in certain parts of the UK.   So it may be an opportune moment to throw a curve ball or two into the mix and send a reminder about the advent of; General Data Protection Regulations (GDPR) […]

Budget Booklet Autumn 2017

November 23, 2017 No comments yet

Chancellor Philip Hammond delivered the first Autumn Budget to Parliament yesterday. He stated that the UK has entered a “critical phase” in Brexit negotiations and that £3bn had been set aside for Brexit preparations. Housing and technology were a key focus of the speech. The key announcements were as follows:- An increase in the personal […]

Budget 2017

March 9, 2017 No comments yet

Chancellor Philip Hammond delivered the last Spring Budget to Parliament yesterday. He stated that this Budget is working towards a “stronger, fairer and better Britain” and to prepare Britain for a “global future”. The key announcements were as follows:- An increase in the personal allowance for income tax to £11,500 for 2017/18, increasing to £12,500 […]

Budget 2016

March 17, 2016 No comments yet

Chancellor George Osbourne delivered his 2016 Budget to Parliament on Wednesday 16th March. He stated that “this is a Budget for the long term”, but that the “storm clouds are gathering”. The key announcements were as follows:- An increase in the personal allowance for income tax to £11,500 for 2017/18 Higher rate threshold for income […]

Second Budget 2015

July 9, 2015 No comments yet

Chancellor George Osbourne delivered the first full “Tory” Budget in nearly 20 years. Heralding the Second Budget as a “big Budget for a country with big ambitions” he announced a series of measures affecting business, tax and welfare. The key announcements were as follows:- A new Inheritance Tax nil-rate band for family homes, phased in […]

Budget 2015

March 19, 2015 No comments yet

Chancellor George Osbourne delivered his 2015 Budget to Parliament yesterday. He stated that “Britain is walking tall again”, that the “national debt target has been met” and predicted the “end of austerity” a year early. The key announcements were as follows:- An increase in the personal allowance for income tax to £10,800 for 2016/17 and […]

Budget 2014

March 20, 2014 No comments yet

Chancellor George Osborne delivered his Budget Statement to Parliament yesterday. He was keen to drive home the message that the economy is recovering “faster than forecast” but warned that “the job is far from done”. The key announcements were as follows: An increase in the personal allowance for income tax to £10,500 for 2015/16 Higher […]

Gross or net interest paid

December 24, 2013 No comments yet

Interest on term deposits in excess of £50,000 is paid gross without deduction of tax. The Revenue is automatically notified by the banks of interest paid to customers and they compare this information with the figures entered on the self assessment tax return. They pay particular attention to those accounts where interest is paid gross […]