The auto enrolment pension increase 2019 will typically mean employees pay 5% and employers pay 3% into the pension scheme. When auto enrolment was first announced back in 2012 a phasing of contributions was setup. The phasing was set up […]
Do Directors need to submit a tax return? Up until January 2019 HMRC have always insisted that a personal tax return be completed by a Director. This however was not the law. The law, do Directors need to submit a
Autumn Budget 2018 Capital Allowances The Autumn Budget in 2018 confirmed the following changes to capital allowances: Structures and building allowance A new capital allowance will be available for new non-residential structures and buildings. The capital allowance is at a
Autumn Budget 2018 Annual Investment Allowance The Autumn Budget in 2018 confirmed the following changes to the annual investment allowance: Annual Investment Allowance – what is it? The annual investment allowance is a tax relief for the purchase of assets
Autumn Budget 2018 Corporation Tax The Autumn Budget in 2018 confirmed the following changes to corporation tax: Corporation tax rates The current corporation tax rate is 19%. This is payable on Limited company profits. The government had previously already announced
Autumn Budget 2018 IR35 The Autumn Budget in 2018 confirmed the following changes to IR35: What is IR35? IR35 is the legislation which prevents employees disguising themselves as self-employed through Limited company status and therefore paying less taxes. Employees and
Autumn Budget 2018 National Insurance The Autumn Budget in 2018 confirmed the following changes to National Insurance: Employment Allowance The employment allowance was established several years ago to assist businesses with a reduction in their National Insurance bill. Employers can
Autumn Budget 2018 Income Taxes The Autumn Budget in 2018 confirmed the following changes to personal income taxes: Personal Allowance In April 2019 the personal allowance will increase to £12,500. Currently the personal allowance is £11,850. The personal allowance is
Autumn Budget 2018 Overview On Monday 29th October 2018 the Chancellor Philip Hammond presented his second Autumn Budget to the House of Commons. We have summarised what we believe to be the tax announcements which may affect you, your family
A £1,000 tax free trading allowance was introduced in April 2017. Individuals with trading income of £1,000 or less no longer need to declare or pay tax on this income. The £1,000 trading allowance can also be used for trade