In November 2018 HMRC wrote to over two million customers, with their main residence in wales, telling them about WRIT. All people living in wales subject to Income Tax, including individuals who earn below the Income Tax threshold, should have received a letter. Employees or people who receive a pension will be given new tax Read more about Welsh rates of Income Tax (WRIT)[…]
It has been a year since the rapid increase in the value of cryptoassets, most notably in bitcoin, since the peak observed in December 2017. With the Self-Assessment (SA) deadline approaching you will need to consider how to treat them for tax purposes. The term ‘cryptoassets’ Is an umbrella term that encompasses all different types Read more about Cryptoassets[…]
We are delighted to announce that our Director Sam, was the Winner of the IAB UK and International Business and Skills Awards 2018 for Accountant of the year. This national award recognises either an accountant or firm of accountants that has made an invaluable contribution to their clients, by going above and beyond to help Read more about Winner in IAB UK and International Business and Skills Awards 2018[…]
Taking on your first member of staff is a big moment for any employer If you have recently become an employer for the first time, you will have workplace pension responsibilities from the moment your new employee starts working for you. You should use the The Pensions Regulator simple online tool to understand what you need to Read more about Workplace pension responsibilities are from day one of talking on your employee[…]
The thresholds of Plan 1 and Plan 2 student loans will be increasing from April 2019. The current thresholds (for 2018-19) are: Plan 1 – £18,330 Plan 2 – £25,000 The Department for Education (DfE) has confirmed that from 6 April 2019 the thresholds will increase to: Plan 1 – £18,935 Plan 2 – £25,725 Read more about Increase in Student Loan Plan 1 and 2 thresholds[…]
The House of Lords economic affairs committee said that it had ‘been struck with a sense of déjà vu’ throughout its inquiry, finding it disappointing ‘that many of the concerns raised in evidence to this inquiry have repeated issues addressed in our 2017 report’. The 2017 report suggested that the tax gap benefit supposed by Read more about Lords recommend delay in Making Tax Digital for VAT until 2020[…]
The Home office is writing to thousands of businesses warning them that they’ve failed to publish a modern slavery statement and will face further action if this isn’t remedied. Should you worry? If your business has an annual turnover of at least £36 million, you aren’t required to publish a modern slavery statement. However, you Read more about Do you have a Modern Slavery statements?[…]
What is rent a room? Rent a room relief (RARR) allows anyone who lets all or part of their home, say to a lodger, ro receive tax free the lesser of £7,500, or £3,750 for each joint owner of the property, per year. The exemption applies to rents and related payments, e.g. money for laundry Read more about New rules on rent-a-room[…]