Tracey Watts

Making Tax Digital- What you need to know.

Making Tax Digital (“MTD”) is HM Revenue &  Customs’ (“HMRC”) drive to close the “Tax Gap” and to make the UK the “most digitally advanced tax authority in the world”. It will mean significant changes to how and when we all deal with our tax affairs. Whilst the digitalisation of tax affairs is generally supported, the ambitious timeframe is… Read more

Marriage Allowance

Marriage Allowance – Teething Problems

Some of you may have taken the opportunity to use the marriage allowance to obtain a tax saving of £212 in the 2015/16 tax year by claiming to transfer any surplus tax free personal allowance from one spouse to the other if you are both no more than basic rate taxpayers. We understand that a… Read more

House of Lords urge delay ‘Making Tax Digital’

The influential House of Lords economic affairs committee has this week criticised The Government’s ‘Making Tax Digital’ programme, adding to the raft of criticisms the proposals have already received from Members of Parliament and pro-business groups.  In a Report  published on March 16, the committee urges the Government to re-think and argues that “while the digitalisation… Read more

The Apprenticeship Levy

The way the government funds apprenticeships in the UK will change in Spring 2017. Whilst only some larger employers will be charged a new apprenticeship levy, actual apprenticeship funding will change for all employers. What is an apprenticeship? An apprenticeship is a genuine job, with an accompanying skills development plan. It must last for at least… Read more

Hammond’s U-Turn. A National Insurance Climb Down

The Chancellor has today made a surprise U-turn on the widely criticised increase to class 4 national insurance rates from 2018, announced in last week’s Budget.  Whilst we welcome the climb down, it is worth noting two things. First, the threshold at which the higher rate of class 4 NIC is applied increases from 6… Read more