Winter is here and in this newsletter we look at the new tax-free childcare scheme, rental incomes and inheritance tax. Featured articles this time cover travel expenses and HMRC’s new Making Tax Digital plans...
New Tax-Free Childcare scheme
After much delay, the Tax-Free Childcare scheme will be launched to parents from early 2017.
Dealing with distractions
Research suggests that when we are distracted from a piece of work it takes between 10 and 15 minutes to get back to that point of focus afterwards.
Rental income splits
HMRC are paying close attention to how rental income is divided between spouses. There are traps for the unwary.
New tax relief for investors
Investors' Relief (IR) is a new tax relief designed to attract new share capital into unlisted companies.
Inheritance tax receipts continue to rise
Latest figures from HMRC reveal a 22% increase in inheritance tax (IHT) receipts in the 2015/16 tax year. This is a significant uplift from the average 12% annual increases that have been experienced since 2010.
Making Tax Digital
Starting in April 2018, the government intends to implement major plans to modernise the tax administration system by introducing digital services for tax. We look at the key changes proposed.
Financial accounts for small companies - time to choose
In recent years many companies have been preparing and filing 'small company accounts' under a Financial Reporting Standard for Small Entities (FRSSE). However, now some companies have a new choice.
A busy time ahead for our tax system
The Autumn Statement is set to be an important event. A new Prime Minister and Chancellor of the Exchequer, plus dealing with Brexit.
Travel and subsistence costs are a major overhead of many businesses and an area where HMRC have increased their interest over recent years. We review the rules on travel costs.
All change at the government's business department
In July, the Prime Minister, Theresa May, made a major overhaul of the departments responsible for business.