The issue of VAT is currently at the fore of the government’s Making Tax Digital (MTD) initiative. Here we provide an overview of the latest position. What’s changed? MTD was previously set to be implemented between 2018 and 2020. However, in response to concerns raised by experts over the pace and scale of the changes, … Continue reading Making Tax Digital for VAT: An Update
Our latest newsletter is here, packed with information on dividend changes, Making Tax Digital, auto enrolment and much more! To view our latest newsletters, visit the publications section of our website. Please note: This article is a commentary on general principles and should not be interpreted as advice for your specific situation.
The Treasury have delivered what is potentially good news for many (yes, you have read that correctly). Making Tax Digital, or MTD to give it its affectionate moniker, has been both delayed and reduced in terms of requirement. For businesses that are VAT registered, VAT returns will still have to be submitted via MTD compatible … Continue reading Making Tax Digital Delayed until 2020
This weeks edition of the South Wales Argus features an article on our Introduction to Xero Seminar. Cwmbran-based accountancy firm Green & Co Accountants and Tax Advisors is holding a seminar on an introduction to Xero; the cloud-software product. The free seminar will be held on Thursday, June 8 from 9am until 11am at Parkway Hotel in … Continue reading Accountancy Firm Holds Free Seminar on Xero
Does your business currently use Xero or are you considering moving your accounting to a cloud based system? We would like to invite you to the Parkway Hotel and Spa in Cwmbran, on 8 June 2017, between 9am and 11am, to teach you how to utilise Xero to its full potential and how Xero can benefit your … Continue reading Introduction to Xero Seminar – 8 June 2017
Following on from the Chancellor's first and last Spring Budget, we are pleased to provide you with our summary of the key announcements, along with our tax tables for the 2017/18 tax year: The main changes include: The tax-free dividend allowance will be reduced from £5,000 to £2,000 from April 2018. Class 4 national insurance contributions … Continue reading 2017 Budget Review
Following a consultation period, HM Revenue and Customs have now released more information regarding the changes to self assessment under their new “Making Tax Digital” project. Some of the more significant details are: Receipts and expenditure recorded on spreadsheets can be linked to HMRC software. Free software will be available to smaller businesses. The cash … Continue reading HMRC Update On Making Tax Digital
By 2020 most businesses, self-employed individuals and landlords will be required to use software or apps to keep their business records and to report their income and expenditure on a quarterly basis to HM Revenue & Customs. This new regime will commence on 6 April 2018 for most small businesses. Self-Assessment tax returns will no longer … Continue reading Self Employed Landlords: What you need to know about Digital Accounting