What we think

Albert Goodman and Xero

Making Tax Digital- What you need to know.

Making Tax Digital (“MTD”) is HM Revenue & Customs’ (“HMRC”) drive to make the UK the “most digitally advanced tax authority in the world” and will mean significant changes to how and when we all deal with our tax affairs, with changes coming in from as early as April 2018. HMRC see this as ultimately leading to… Read more

Tax Year End Planning

As the tax year draws to a close, now is an ideal time to consider tax year end planning and whether you have made full use of the reliefs and exemptions available to you: INCOME TAX Tax rates and personal allowances – An individual has a personal allowance of £11K in 2016/17, which means any income up… Read more

Auto Enrolment – Key Points To Note

Is it really necessary? Auto enrolment was introduced decades ago by nations such as Denmark, Switzerland and Holland – the UK is 35, even 40 years behind. It is a legal requirement – there are significant fines for those who don’t comply. Who does it apply to? It applies to all employers – from one… Read more

Are You Really Farming?

Why does “Farming status” matter? “Farming status” is a very important question for those who ‘farm’ their land through grazing or cropping licenses, contract or share farming arrangements. HM Revenue and Customs are often raising this question – whether you are farming or not can have significant tax consequences. The case of John Carlisle Allen v HMRC… Read more