Blog

Register of People with Significant Control (PSC)...

From 6th April UK Companies and Limited Liability Partnerships (LLPs) will be required to identify and record the people who own OR control their companies or LLPs.  They will need to keepa PSC Register as well as their existing register of directors and register of members.  They must then file this PSC information with Companies House and will be publicly available.

Change in Dividend Tax to hit Charity Gift Aid...

With the abolition of the dividend tax credit many small business owners will have a problem with their charitable Gift Aid claim. 

Making Tax Digital...

HMRC are running events to educate accountants and tax advisers about the inevitable move towards quarterly reporting and equally inevitable quarterly tax payments....

Everyone will eventually have to report quarterly with no exceptions and there is a timetable already set by HMRC as to who will be affected and when quarterly reporting will start.

5th April 2018      Sole traders and partnerships under the VAT threshold and individuals with non PAYE income of more than £10,000 per annum.

5th April 2019      VAT Registered sole traders and partnerships.

1st April 2020      Companies

Two points to note here.  Firstly the smallest and least sophisticated businesses and individuals are being targeted first rather than those with the greatest ability to be able to cope.  Secondly with the new rules for landlords having to declare their rents gross without being able to deduct their interest payments as an expense it would appear that many small landlords will be “early adopters” whether they want to or not.

When do you want to pay your dividend tax?...

As we now all know the dividend tax surcharge of 7.5% will come into effect from 6th April 2016.  But when did you think you would be paying this extra tax? 

Advice for Start-Ups - Part 6: Registering for VAT and Taxable Persons and Supplies...

Welcome to part 6 of our Advice for Start-Ups series.Today we’re concentrating on Value Added Tax or, as most of you will know it, VAT. In particular, how to register, and who and what is taxable.