Government Policy

Are you one of the two types of people no longer required to submit a self-assessment tax return? Simple Assessment first took effect in September 2017, which means some taxpayers no longer need to disclose information about their income via a self-assessment tax return. The term ‘Simple Assessment’ may ring a bell, it’s a term […]

Recently, there have been a number of cases where it has been claimed that “self employment” and some “self-employed” workers are only labelled as such so that companies can avoid tax and minimum wage laws. Fortunately, there is a piece of legislation in place to prevent tax avoidance – with regard to self employment – […]

The Government has scrapped plans to implement Making Tax Digital (MTD), ahead of the debate on the bill in the House of Commons. When Theresa May first announced the surprise general election on 8th June, the Chartered Institute of Taxation (CIOT) wrote a letter to Chancellor of the Exchequer, Philip Hammond. In the letter, the […]

In last week’s budget, it was announced that National Insurance rates for the self-employed were to be increased. However, the plans have since been criticised for breaking a 2015 manifesto pledge. Amidst the controversy, Philip Hammond told MPs in a Commons statement: “There will be no increases in National Insurance rates in this Parliament.” The […]

Today, the Chancellor of the Exchequer, Philip Hammond announced the 2017 Spring Budget. We have taken the time to consider these announcements and have highlighted the key points below. Businesses For businesses below the VAT registration threshold, the introduction of quarterly reporting has been delayed by a year, at a cost of £280m. There will […]

Today, the Chancellor of the Exchequer, Philip Hammond announced the 2016 Autumn Statement and Spending Review. We have taken the time to consider these announcements and have highlighted the key points below. TAX Increase in Personal allowance to £11,500 from April 2017 and a promise to increase to £12,500 by end of this Parliament. Increases […]

Britain is leaving the EU. It’s all you hear on the news, all you read in the papers and it’s currently all us Brits talk about. But with so much conflicting information out there, how can we possibly reach a conclusion as to exactly how this will impact us? Brexit campaigners will tell you that […]

When the government first announced the Small Business Act, it detailed a series of measures to reduce the administrative burden placed on small businesses. The act was created with the help of business people, the general public and other organisations. At present, all companies are required by law to file an annual return, these returns […]

To stay in the EU, or leave? This is the debate that has been raging across Britain for decades. On 23 June 2016, it will all come to a head as the people of Britain finally settle the long-running question. The ultimate decision will affect all aspects of society: economy, security, jobs immigration etc. This […]

Today, the Chancellor of the Exchequer, George Osborne delivered his eighth budget. In this article, we’ll highlight the key points that were announced. Initially, the budget started rather pessimistically, with warnings of ‘storm clouds forming over the global economy’. One of the first things to be mentioned was that growth forecasts for the UK economy […]