So, the 6th of April brings in the new tax year with new rules, but what are the changes? Personal Allowance - increases to £11,000. Personal Savings Allowance - if you are in the 20% band for income tax, you will pay no tax on the first £1,000 of interest you get from savings. If … Continue reading New Tax Year – New Rules!
Currently 85% of contractors send their CIS returns online to HMRC. With this is mind, from 6 April 2016, everyone will have to send their returns to HMRC online, and paper returns will no longer be accepted. If you still send your returns to HMRC in paper form, you should have already received letters advising … Continue reading Changes To CIS
Further to the autumn budget last year, there were several changes to look out for in the coming year or so regarding the Construction Industry Scheme. Firstly, from April of this year, there was no longer a need to make a nil monthly return. This is something that has been an added burden for many … Continue reading Changes To CIS Reporting