Vantage Accounting, one of Hampshire’s leading independent accountancy practices established in Winchester in 1995, has announced it has opened a second office in Duck Island Lane, Ringwood following record levels of growth over the last 2 years. The new modern offices have recently been refurbished. The new office follows an [...]
This Report, which was written immediately after the Chancellor of the Exchequer delivered his Budget Speech, is intended to provide an overview of the latest announcements and recent measures most likely to affect you or your business. The 2017 Autumn Budget represents the first step in the government's new Budget [...]
The increases in the personal allowance in recent years has come at the cost of reductions in the band of income being taxed at basic rate but, in the current year, an individual may have £43,000 of income before higher rate tax applies.
In recent years many companies have been preparing and filing ‘small company accounts’ under a Financial Reporting Standard for Small Entities (FRSSE).
A summary of important tax-related dates for your business from April 2017 to 2018. For further clarification on any dates please don't hesitate to contact us.
What it is From 1 April 2017 many businesses who use the VAT flat rate scheme (FRS) are going to see an increase in the Flat Rate % they apply to calculate amounts due to HMRC. Businesses subject to the new rate are those that have ‘limited costs’. The definition [...]
Final Spring Budget sets the stage for ‘Britain’s global future’ Chancellor Philip Hammond presented his first – and last – Spring Budget to the House of Commons in belligerent form. Despite revealing upgraded forecasts from the Office for Budget Responsibility, the Chancellor announced that he would adhere to the government’s [...]
Chancellor pledges post-Brexit economy ‘that works for everyone’ The new Chancellor of the Exchequer, Philip Hammond, acknowledged ‘sharp challenges ahead’ for the economy as he presented his first major fiscal statement, exactly five months after the UK’s historic vote to leave the European Union. The latest forecasts from the Office [...]
Landlords have faced significant changes to the tax system in the last few years so it has never been more important to ensure that all expenses and reliefs available are utilised as far as possible. There are still a number of ways to legitimately reduce the tax liability but care [...]
The Office for Tax Simplification (OTS) have been looking at this topic and with further reviews proposed it looks like the government are keen to progress this issue. Differences between income tax and NICs have been identified, by the OTS, as one of the top causes of complexity for small [...]