20 June

Who Needs to Complete a UK Tax Return?

In the UK, we are in the fortunate position where most people earning a PAYE salary or wage or receiving a pension do not need to complete a tax return. However, each year, as working and lifestyle patterns change, the number of tax returns increases.  More than 11,500,000 were filed for the 2015-16 tax year. […]

14 May

Ever Wondered Why the Tax Year in the UK Starts on 6th April?

Have you ever wondered why the tax year in the United Kingdom runs from 6th April to 5th April?  The reason is steeped in history. Prior to 1752, the New Year’s Day in Britain used to be in on 25th March, the Spring Quarter day, and the tax year started on the same day. Back in […]

26 April

BREAKING NEWS – Making Tax Digital Legislation Dropped from the Finance Bill

One impact of the government’s decision to call an early General Election in June is that large swathes of the proposed legislation in the Budget has been dropped from the Finance Bill to enable the core measures to be passed yesterday. This included the provisions for Making Tax Digital. Whilst many of the dropped measures, […]

23 April

Are Your Prepared For The New Data Protection Regime?

In May 2016, the General Data Protection Regulation (GDPR) was approved by the European Union to come into effect from 25th May 2018. As a Regulation, it is directly applicable across all EU Member States without the need for national legislation and will replace all current data protection legislation. For the United Kingdom, GDPR will […]

8 March

2017 Spring Budget – Key Announcements

The Chancellor of the Exchequer used the final Spring Budget in the UK to unveil some significant tax changes. However, for the self-employed and landlords with an income under the VAT threshold, the best news was that the government has listened to the many representations, including those of CooperFaure, and deferred the introduction of Making […]

2 March

HMRC Employment Status Service Tool – Live

The latest update from HMRC is that the Employment Status Service Tool is live here for contractors and engagers in the Public Sector. As we outlined in our last newsletter, the concept is that by answering a number of questions around the relationship between the contractor and their Public Sector client, the tool will provide an […]

2 March

UPDATE – The VAT Change That Will Impact Contractors, Consultants and Accountants!

Further to our newsletter in December, the HMRC consultation on the proposed introduction of a new VAT Flat Rate of 16.5% for ‘Limited Costs’ businesses has closed. As we expected, there has been no change to this policy which will come into effect from 1st April 2017. The only concession is that companies will be […]

21 February

There Is No Better Time to Incorporate

Changes to the tax regime are driving more and more people to incorporate their businesses. For the self-employed and landlords who will be impacted by Making Tax Digital (MTD) in April 2018, the easiest way to obtain a two-year deferment is to incorporate, as MTD does not come into effect for a Limited Company until […]

19 February

The Employment Status Service Tool – Substitution Is The Key

The latest update from HMRC is that the public beta version of the is the Employment Status Service Tool will be launched tomorrow. As we outlined in our last newsletter, the concept is that by answering a number of questions around the relationship between the contractor and their Public Sector client, the tool will provide […]

10 February

What Next for Contractors Working in the Public Sector?

HMRC has finally published an update on their proposal for contractors working in the Public Sector including those working for HMRC itself. However, like the recent Making Tax Digital proposal, the key part is missing. The kernel of the change that comes into effect from April is that the responsibility for deciding whether off-payroll working […]