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Filtered By Category: Taxation

Mar 20 2018

Tribunal rules BBC journalist is caught by ‘IR35’ legislation

Categories: Taxation

A First Tier Tribunal has ruled that Christa Ackroyd who presented BBC news programme Look North and was paid via a personal service company was caught by the IR35 rules resulting in additional tax and national insurance contributions being payable. The IR35 rules in broad terms mean that those working via a personal service company more

Mar 14 2018

The wonderful thing about tiggers…

Categories: Taxation

The Chancellor delivered his Spring Statement yesterday proclaiming that he felt full of bounce like Tigger due to the current position in the UK economy. Whilst there was no doubt much of that was political grandstanding, it was good to see the normally grey, Eeyore like, Chancellor carrying an air of optimism during his speech. more

Feb 27 2018

Revised income tax bands in Scotland

Categories: Taxation

As if tax wasn’t taxing enough, how will the Scottish public be certain if they have paid the correct amount of tax on their wages or pension now that we will have 7 different rates of tax on earnings? Add in National Insurance and the number increases to 9. Previously, proposals (as published in our more

Feb 16 2018

Tax planning for professionals – our top tips

Categories: ProfessionsTaxation

With over two months until the end of the financial year (ended 5 April 2018), there is still time to take action to reduce future income tax liabilities or take advantage of annual allowances. Take a look at our points to consider, ahead of the new financial year below: • Have you maximised your annual more

Feb 12 2018

Construction companies could be missing out on thousands of £s of tax relief

Categories: ConstructionTaxation

Research & Development (R&D) tax credits are available to limited companies subject to UK corporation tax, yet take up of the relief is lacking amongst SME’s, particularly within the construction sector. Construction companies often do not consider these claims applicable to them. However, due to the continuous innovation and bespoke solutions provided by the construction more

Jan 30 2018

Have you paid your tax?

Categories: Taxation

31 January 2018 is the deadline for payment of balancing tax liabilities for 2016/17 together with first payments on account (POA) towards 2017/18 tax liabilities. This is the same as the deadline for filing 2016/17 self-assessment tax returns online with HMRC. HMRC automatically charge a penalty of £100 for any late returns, with additional penalties more

Dec 18 2017

The Real MacKay – Scottish Budget Commentary

Categories: Taxation

On Thursday 14th December, Finance Secretary, Derek MacKay, delivered Scotland’s Budget for the 2018/19 tax year. Whilst a tax rise was expected, the creation of new tax bands was not. In Scotland, we already have a lower basic rate band than the rest of the UK, but Mr MacKay introduced a series of new rates. more