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Filtered By Category: Taxation

Feb 12 2018

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

Categories: Property & 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

Dec 11 2017

Important information about changes to paying HMRC

Categories: EQ AccountingTaxation

HMRC are making some important changes to the way they accept payments. Please make sure you are aware of these changes and the dates they come into action which can be found below. At the Post Office You won’t be able to pay at the Post Office from 15 December 2017. Where electronic payment is more

Nov 24 2017

Our Autumn Budget Summary 2017 is now available to download

Categories: Taxation

Chancellor, Philip Hammond presented his Autumn Budget to Parliament on 22 November 2017. We have put together a Budget Summary that covers the key tax changes announced in the Chancellor’s speech and includes tables of the main rates and allowances. You can download a copy of our Autumn Budget Summary 2017 here. Now we can more

Nov 22 2017

Our Autumn Budget 2017 Commentary

Categories: Taxation

Chancellor, Philip Hammond, delivered his latest Budget earlier today with his usual dry wit and good natured barbs directed at the other side of the Commons. In tax terms, little of real note, and as usual, a careful review of press releases and announcements will be required.  At an initial glance, we would note: – more

Sep 26 2017

Simple Assessment – Is it the end of the Tax Return?

Categories: Taxation

HMRC has now started the process of withdrawing the need to complete tax returns in certain circumstances. For example, if you became entitled to the state pension at some point after 6 April 2016 but continued to have another source of income such as employment income, then you may be due to pay tax on more