Business News
Budget 2018: Expectations
Chancellor Philip Hammond is set to give his Budget speech on 29 October 2018, earlier than the usual date to avoid any clash with the final stage of Brexit negotiations. Brexit is one of the main pressures overshadowing Budget 2018, along with the question of how to...
Budget 2018 Summary: Business
IR35 Extended To The Private Sector Medium-sized and large businesses will become responsible for assessing an individual’s employment status and determining whether the off-payroll rules apply. The reform will not apply to the smallest 1.5 million businesses and will...
Budget 2018 Summary: Personal
Personal Allowance & Higher-Rate Threshold The personal allowance and higher-rate threshold will increase to £12,500 and £50,000 respectively in April 2019 – a year earlier than set out in last year’s Conservative manifesto. Stamp Duty For First-Time Buyers Stamp...
Budget 2018: What We Know Already
With only a few days until Budget 2018 on 29 October, it’s still hard to say what kind of surprises might be in store. However, there are a few changes already set in stone for the 2019/20 tax year. Here’s what we know already. Auto-Enrolment Under auto-enrolment...
Key Facts on MTD for VAT
Key Facts on MTD for VAT Making Tax Digital, or MTD, is part of a wider plan by HMRC to transform the way it handles its relationship with taxpayers by using technology. In time this will cover most taxes, however to begin with it will focus on VAT. MTD for VAT: In a...
OTS calls for business tax simplification
The Office for Tax Simplification (OTS) is calling on the government to reform the tax system for businesses at the key stages of their growth. A report published on 16 April 2018 outlines several areas where the taxation of businesses could be simplified and reliefs...
Over 55’s worried about running out of retirement income
Nearly half of people aged over 55 fear the prospect of running out of money in retirement, research shows. SunLife polled 50,000 individuals and found that 2 in 5 over-55s worry about whether their pension will cover retirement, while 43% are concerned they might run...
Directors positive about UK economy
Business leaders’ optimism about the UK economy has turned positive for the first time in almost a year, a survey by the Institute of Directors (IoD) shows. The IoD polled 693 company directors and found that confidence in the economy reached 1% in March 2018, having...
SMEs could save £17,000 with digital accounting
Small and medium-sized businesses that use digital software to help with their accounting process could save 27.6 days a year, analysis by Sage shows. According to Sage’s research, 59% of SMEs use digital software for accounting, while 18% continue to use manual...