What we think


PAYE Settlement Agreement

CHANGES TO THE PAYE TAX SYSTEM USING REAL TIME INFORMATION

HMRC have announced that from the end of May 2017 they will be using Real Time Information (RTI) to make adjustments to employee tax codes in-year as and when the need arises. HMRC states that this change in procedures will: offer more certainty to employers and their employees reduce the instances of unexpected tax bills… Read more


Non-resident landlord scheme

If you are non-UK resident and you receive rental income in the UK, you must register with HMRC under the Non-resident landlord scheme  (NRLS) regardless of whether you are an individual, trust or company. Otherwise, your tenant or letting agent is responsible for withholding 20% tax from your rental payments and paying this over to… Read more


INHERITANCE TAX AND THE RESIDENCE NIL RATE BAND

From the 6th April 2017 estates up to the value of £2 million should now benefit from the residence nil rate band (RNRB) on death. Now is the time to review your affairs to ensure your estate will qualify – it is not straight forward and advice in this area should be sought. What is… Read more


CHANGES TO CHILDCARE IN 2017

Launching of Tax-Free childcare  We previously reported on the expected launch of the Government’s tax-free childcare scheme in early 2017 and we confirm this will now be launched on 28 April 2017 and it will be gradually rolled out through the year. As a reminder, the tax-free childcare scheme is available to working parents (each… Read more


Personal Tax Accounts – Get Yours Now!

HMRC are gradually pushing taxpayers towards their Personal Tax Accounts (PTA) and, as of December 2016, they reported that 8 million people have already registered. There are already a range of things that can be done via the PTA and as the push continues, more services will be added. In time, it is envisaged that… Read more