A year of fundraising in aid of the White Lodge Centre has been launched by leading Weybridge accountants TWP. The charity, based in Chertsey, provides a place for young people with a range of disabilities and special needs to learn new skills and try new experiences. To kick of their fundraising for the White Lodge […]
Earlier this year the government released a new consultation document entitled Making Tax Digital that sets out their proposals for the future of digital tax accounts, which are due to be introduced over the next four years. According to the consultation paper the government is considering introducing quarterly reporting for businesses that will require them […]
New data has shown that the average house price across the UK jumped by £3,800 in April as the market experiences a knock on effect from the buy-to-let rush of the previous months. According to property website Rightmove the average asking price for properties in England and Wales rose 1.3 per cent to £307,033 in […]
From 6 April, basic and higher-rate taxpayers have been provided with a personal savings allowance. For those on the basic-rate they can save up to £1,000 tax-free, while those on the higher rate now have an allowance of £500 tax-free. However, those on the additional rate do not receive a savings allowance. The interest can […]
A recent study by Ipsos Mori, conducted on behalf of the government, has looked into the motivations of investors who have put money into venture capital trusts (VCTs). The long-running government-backed investment scheme is designed to help boost the funding of small, unquoted companies. In return for putting their money into businesses that meet certain […]
The April Employer Bulletin includes articles on: reporting expenses and benefits in kind for 2015/16 using form P11D Scottish Rate of Income Tax coding notice issues Class 1 National Insurance contributions for apprentices under the age of 25 changes to Student Loans Deductions including the introduction of type 1 and type 2 loans and the […]
According to HMRC figures over 230,000 people have used the new pension freedoms introduced one year ago and accessed over £4.3 million in pensions saving. In April 2015, the government introduced significant pension reforms giving people the ability to access their pensions savings how and when they want. The statistics show that in the first […]
A new savings allowance is available to basic and higher rate taxpayers for 2016/17. The amount available depends on the individual’s circumstances: If any of the individual’s income for the year is additional rate income then the individual’s savings allowance for the year will be nil. If any of the individual’s income for the year […]
HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2016. VAT registered businesses use the fuel scale charges to account for VAT on private use of road fuel purchased by the business. Please do get […]
Changes have been made to the rules which allow farmers to average their profits for tax purposes. Under the new rules unincorporated farmers will be able to average their profits for income tax purposes over five years rather than the previous two years. The amendment to the rules which took effect from 6 April 2016 […]
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