Jul 19 2017 HMRC to use PAYE information to make in-year adjustments Categories: EQ AccountingTaxation From July 2017, HMRC will start to use PAYE information to make in-year adjustments to taxpayers tax codes in real-time. This will avoid both under and overpayments from occurring by the end of the tax year. Taxpayers will be notified when the right tax is not paid and, through their Personal Tax Account, HMRC will more
Jul 14 2017 MTD Update Categories: EQ AccountingTaxation Following it’s removal from the Finance Bill earlier in the year, the treasury has issued guidance as to its revised plans for Making Tax Digital. Under the original plans, businesses and landlords with turnover in excess of £10,000 would have been required to submit mandatory quarterly reports. With those who are VAT registered commencing from more
Jun 29 2017 Free seminars take businesses to the cloud Categories: EQ Accounting Fife businesses are being invited to free drop-in sessions highlighting the benefits of Cloud accounting. In the near future, it is expected that most businesses, including sole traders and landlords, will be required, by law, to submit accounting information quarterly via computer software rather than manually once a year. Although the finer detail of the more
Jun 15 2017 Annual Tax on Enveloped Dwellings Categories: LeisureTaxation Do you own your FHL property through a limited company or mixed member partnership? If so, and any one property is valued at more than £500,000 then you will have been required to complete and submit an ‘Annual Tax on Enveloped Dwellings’ (ATED) return by 30 April. Relief from the ATED charge, which starts at more
Jun 9 2017 £10 million tax savings secured for EQ clients Categories: Taxation Our specialist R&D team of six handle over 50 claims each year, and have achieved over £10 million of tax savings for clients throughout Scotland during the last six years, including those working within food and drink, manufacturing, engineering, software development and design sectors. The amount of claimants of R&D tax credits has rocketed in recent more
May 31 2017 VAT fuel scale charges Categories: EQ AccountingTaxation HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2017. VAT registered businesses use the fuel scale charges to account for VAT on private use of road fuel purchased by the business. You can find the more
May 22 2017 P11D deadline approaching Categories: Taxation The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2017, are due for submission to HMRC by 6 July 2017. The process of gathering the necessary information can take some time, so it is important that this process is not left to more
May 17 2017 Residential Property Tax Changes Categories: Taxation Cheryl Whitton and Sandi Drummond from our specialist property tax team are looking forward to exhibiting at The Agency Business conference in Glasgow tomorrow – Thursday 18 May 2017. Pop over and say hello to our team at stand 5 if you are attending. Individuals who own and let property are now facing significant changes to more