December 2016 Tax Tips & News

Welcome, to December's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We're here to help!   

                   

December 2016

· HMRC clarify pre-registration of VAT policy

· Employment Allowance consultation launched

· Real living wage increase takes effect

· Caps on income tax relief

· December questions and answers

· December key tax dates

We wish all our clients, suppliers and contacts a very merry Christmas and a happy prosperous new year.

NB: Please note our offices will close for the Christmas and New Year Period on Friday 23^rd December and reopen on Tuesday 3^rd January.

November 2016 Tax Tips & News

Welcome to November's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We're here to help!

                               

November 2016

· Restriction of tax relief on finance costs for individual landlords

· NMW increases take effect

· Help-to-Save

· Self-assessment and disclosure

· November questions and answers

· November key tax dates

October 2016 Tax Tips & News

Welcome to October's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

October 2016

· Finance Bill 2016 receives Royal Assent
· Termination payments consultation
· HMRC launch online disclosure service for agents
· Lifetime ISA guidance updated
· October Question and Answer
· October Key Tax Dates

September 2016 Tax Tips & News

Welcome to September’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

September 2016

• Dividend Allowance
• CIOT examines new corporate offence proposals
• FB 2016 amendment on OTS appointments proposed
• EU consultation on ending VAT on eBooks
• September Questions and Answers
• September Key Tax Dates

August 2016 Tax Tips & News

Welcome, to August's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

                               

August 2016

· Help to Successfully Grow Your Business

· Spotlight on Tax Avoidance Schemes

· HMRC Focus on Contractor Loan Schemes

· Casual Employees

· August Questions and Answers

· August Key Tax Dates

Help to successfully grow your business

Running a successful business requires skill, determination and a lot of hard work. One of the worst things a business owner can do is to start trading without considering any of the challenges ahead.  There is no avoiding them so it’s better to be prepared and know where to turn for expert help when needed. There will be challenges every day, whether or not you are able to rise to them can be the difference between success and failure.  

July 2016 Tax Tips & News

Welcome, to July's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

             

July 2016

· Trivial benefits

· HMRC guidance on senior accounting officers

· Help-to-save consultation launched

· FRS 102 guidance on directors' loans revised

· July 2016 Questions and Answers

· July 2016 Key Tax Dates

June 2016 Tax Tips & News

Welcome, to June's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

June 2016

· New PSC register requirements take effect

· OTS examines potential for new trading vehicle

· HMRC go live with Verify identity authentication

· Free pension advisory services to be merged

· June Questions and Answers

· June Key Tax Dates

May 2016 Tax Tips & News

Welcome, to May's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

May 2016

· The importance of cyber-security

· HMRC on house due diligence

· New student loan plans take effect

· Companies to be liable for employees who facilitate tax cheating

· May Questions and Answers

· May Key Tax Dates

Happy New Tax Year

Happy New Tax Year! Today (6th April) is the first day of the new 2016/17 tax year. 

For details of the main tax changes coming in the new year, please check out our recent blog posts at blog.hillmans.co.uk. 

Alternatively if you would like to speak to a Chartered Accountant about your tax position, please contact us on 01934 444 100 or visit our office at 2 Laurel House, 1 Station Rd, Worle, Weston-super-Mare, North Somerset, BS22 6AR.

www.hillmans.co.uk 

April 2016 Tax Tips & News

Welcome to April's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

April 2016

· OTS recommends simplifications for small companies

· Close alignment of income tax and NICS

· National minimum wage increases announced

· Guidance on SDLT Budget reforms

· April Questions and Answers

· April Key Tax Dates

Happy Birthday Kylie

Happy Birthday to our office administrator Kylie. 

Changes in Motor Vehicle Travel Costs

There have been various changes in respect of motor vehicle travel costs which will apply from the 1st March 2016.

We have produced a handy guide summarising the main changes which you can read on our website at http://www.hillmans.co.uk/changes-in-motor-vehicle-travel-costs.

Easter Opening Hours

Our offices will be closed on Friday the 25th March and Monday the 28th March. We reopen as normal on Tuesday 29th March.

Happy Easter from all the team at Hillmans.

Review of the Budget 16th March 2016

Welcome, to the Budget 16th March 2016 edition of Tax Tips & News.

In this analysis we have mainly concentrated on the tax measures that will directly affect individuals, employers and small businesses.

We are committed to ensuring all our clients don't pay a penny more in tax than is necessary.

Please contact us for advice in your own specific circumstances.

We're here to help!

Budget 16th March 2016

· Summary

· Individuals

· Capital gains tax

· Inheritance tax

· Business tax

· VAT

Construction Industry Scheme (CIS) - Basic Guide

It is important that contractors and sub-contractors are aware of the requirements and their obligations under the Construction Industry Scheme (CIS).

We have produced a handy guide to the CIS scheme on our website at www.hillmans.co.uk/cis.

Please contact us on 01934 444100 for further information, we would be pleased to assist.

eNews - March 2016

Welcome to March's Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!

March 2016

· Practical implications of the dividend tax allowance
· Personal savings allowance update
· Landlords' replacement wear and tear allowance
· Employee bonus schemes in the spotlight
· March Questions and Answers
· March Key Tax Dates

Fundamental Changes to the Taxation of Dividends - 6th April 2016

As part of his Summer Budget speech, the Chancellor announced fundamental changes to the way in which dividends are taxed for individuals.  

We have reviewed the detail of the measures, which are due to take effect from 6 April 2016.  Consequently we would advise that that all shareholders of companies which yield dividends should take stock of their affairs now, before this change takes place.  

The current regime

Dividend income is currently taxable at various rates:

• Basic rate taxpayers – 10%, giving an effective rate of 0% after deducting the tax credit;
• Higher rate taxpayers – 32.5% (an effective rate of 25% on the net dividend);
• Top rate taxpayers – 37.5% (an effective rate of 30.6% on the net dividend).

eNews - February 2016

Welcome to the February 2016 edition of ‘Hillmans Tax Tips & News’, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We're here to help!                          

February 2016 Contents

· Stamp Duty Land Tax (SDLT) on additional properties

· HMRC prepare for National Living Wage (NLW)

· Simplification of VAT MOSS for small businesses

· Could EA exemption be avoided?

· February Questions and Answers

· February Key Tax Dates