With 2017, finally reaching it’s near; UK Chancellor Philip Hammond unveiled the latest fiscal budget also known as the Autumn Budget. Tipsters are already calling it as one of the most intricate budgets, particularly set against the backdrop of plummeting living standards, substandard growth and weak Brexit. Primary Focus Areas of the Autumn Budget: The … Continue reading A Comprehensive Look into Hammond’s 2017 Autumn Budget
Making Tax Digital is a government initiative that sets out a bold vision for ‘a transformed tax system and the end of the tax return’ by 2020. Not sure what it means for you? Here’s what you need to know: What is Making Tax Digital? Making Tax Digital is all about making tax administration more … Continue reading Making Tax Digital – what does it mean for you?
Major changes have been announced for the amount of VAT that many small businesses will have to pay from 1 April 2017. This will affect businesses that use the VAT Flat Rate Scheme but which spend very little on goods, including raw materials – such as firms providing services. The VAT Flat Rate Scheme simplifies … Continue reading Changes to VAT Flat Rate Scheme