Buckinghamshire: 01296 682943 Hampshire: 02392 263007



15th December 2017

HMRC computer isn’t always correct

2nd June 2017

HM Revenue and Customs have acknowledged that their software and some commercial software used by accountants doesn’t always come up with the right amount of tax payable! You may have seen this reported in some newspapers such as the Daily Telegraph. This arises because the tax system of different income tax personal allowances, dividend allowances, savings rates has become more…

Snap election means shorter finance act passed

2nd June 2017

The original Finance Bill published after the Spring Budget ran to nearly 700 pages. As a result of the announcement of the General Election on 8th June a significantly shorter Finance Bill was passed with many of the more detailed and more controversial measures being deferred to a later Bill. Whether those measures will reappear after the election will depend…

Does the new 16.5% VAT flat rate percentage apply to your business?

2nd May 2017

The new VAT flat rate of 16.5% started to apply from 1 April 2017 for “limited cost traders”. A “limited cost trader” is one using the VAT flat rate scheme but where the VAT inclusive cost of goods for a year is less than 2% of VAT inclusive turnover, excluding certain specified items. Those specified items include capital expenditure, food,…

Additional IHT relief for passing on family home started 6 April

2nd May 2017

For deaths on or after 6 April 2017 there is now an additional £100,000 inheritance tax (IHT) allowance where the family home is passed on to direct descendants. This was originally announced on 8 July 2015 and that date is relevant where the deceased has downsized to a lower value property. This additional relief increases to £175,000 in 2020, and…