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 […]

8 February

Free Webinar – The Property Investor and Tax

On Tuesday 14th February, we will be hosting a Free Webinar on ‘The Property Investor and Tax’ between 7:30pm and 9pm. Highly recommended for those who have or are looking to build a buy-to-let property portfolio. As well as expert advice and a free copy of the presentation, you can ask that nagging question in […]

31 January

HMRC Publish Their Response to the Making Tax Digital Consultations

HMRC have today published their response to the six Making Tax Digital consultations that ran over the summer and have confirmed that the digital tax revolution is set to start in April 2018 but who it will apply to remains unanswered. Against the backdrop of a damning House of Commons Treasury Committee report published earlier […]

18 December

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

The HMRC has published their draft legislation for the proposed introduction of a new VAT Flat Rate of 16.5% for ‘Limited Costs’ businesses to tackle what they perceive as abusive use of the scheme. The target of the legislation are labour-intensive businesses with little expenditure on goods such as contractors, consultants and accountancy firms. However, […]

28 November

Transamazonica – Epic Journey and Exciting Investment Opportunity

This autumn, adventurer and film-maker Reza Pakravan and journalist Pip Stewart, embarked on an epic journey along the 4,000 km Transamazonian highway to document both the glory and the destruction of one of the planet’s last great untouched areas, the mighty Amazon rain forest. Travelling the road by bicycle and the river by boat, their […]

28 November

The Seed Enterprise Investment Scheme – Brief Investor’s Guide

Posted by in Guides, News Alerts

The Seed Enterprise Investment Scheme (SEIS) was introduced in April 2012 as an offshoot of Enterprise Investment Scheme (EIS) specifically targeted at boosting early stage investment in start-up companies. To this end, SEIS offers the investor some especially generous tax reliefs: An immediate 50% Income Tax relief on investments under the scheme of up to […]

23 November

VAT Flat Rate Scheme – What is a Limited Costs Business?

We have received the HMRC definition of a ‘Limited Costs’ business for whom the new VAT Flat Rate of 16.5% will apply. This is outlined as a company whose VAT inclusive expenditure on goods is either: less than 2% of their VAT inclusive turnover in their defined accounting period; greater than 2% of their VAT […]