Umar Memon
-
Expenses and benefits deadline looms
Expenses and benefits not payrolled for the 2016/17 tax year will need to be reported to HMRC by 6 July 2017. Employers can report them by completing specific forms which are available to download on the HMRC website. There are… Read more Expenses and benefits deadline looms
-
Personal Tax Planning
How individuals and families can save taxes in 2017/18.The UK tax system provides reliefs and allowances to encourage you to spend or invest in certain ways. Using those reliefs as they are intended is the fiscal equivalent of obeying the… Read more Personal Tax Planning
-
Gender pay gap reporting becomes law
Employers with more than 250 staff are now required by law to report gender pay gaps, following the introduction of new legislation. Employers must publish the following figures by April 2018: The requirements will allow employers to identify the gaps… Read more Gender pay gap reporting becomes law
-
Improving Cashflow
A guide to maintaining a healthy balance between money coming in and out of your business. If your business does not have a steady stream of money flowing into it, you will be unlikely to be a going concern in… Read more Improving Cashflow
-
Employee Benefits
A guide for employees on the tax implications of accepting common employee benefits. Most employers provide a range of benefits in kind to their employees. You may be able to choose which benefits to take up, so you should be… Read more Employee Benefits
-
Interest Free Loans
It is common for owner managed businesses to receive loans either from the owner/director (Director’s Loan Accounts) or from related companies with common ownership. It is also normal for these loans to be provided “interest-free”. Although it may sound contradictory,… Read more Interest Free Loans
-
Making Tax Digital
The income tax system as we have known it for the last 20 years is about to change dramatically. From April 2018 businesses whose turnover exceeds £85,000 will be required to keep their records in a digital format and to… Read more Making Tax Digital
-
Tax Card 2017/18
Tax Card 2017/18 Taxable Income Bandes and Tax Rates 2017/18 2016/17 Starting rate of 0% on savings up to £5,000* £5,000* Basic rate band Scottish basic rate band £33,500 £31,500 £32,000 £32,000 Higher rate band Scottish higher rate band… Read more Tax Card 2017/18
-
Spring Budget 2017
Introduction 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… Read more Spring Budget 2017
-
Firms Prepare for Making Tax Digital…
Businesses will be given at least 12 months to prepare for the transition to digital tax accounts. Businesses, self-employed people and landlords will need to submit quarterly updates to HMRC. There records will need to be kept digitally by 2020,… Read more Firms Prepare for Making Tax Digital…
