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April 2017 Tax Tips & News

Welcome to April’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman. If you need further assistance just let us know. Apprenticeship Levy Change to Class 4 NIC rate reversed Registration for tax-free childcare opens Increase in the cash basis threshold […]

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Business Bitesize – March 2017

Welcome to Business Bitesize, Wright Vigar’s bi-monthly newsletter providing food for thought on general business matters. To download Business Bitesize ‘Winning Influence’ click here How do you get the world’s most stubborn people to help your business win? click here to find out. We hope you enjoy Business Bitesize. Please feel free to pass on this edition […]

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NEW VAT Flat Rate Scheme Changes

The Flat Rate Scheme (FRS) was originally introduced as a simplification scheme to help reduce the administrative burden for smaller businesses. It is not a tax allowance and businesses using the scheme should broadly pay the same amount of VAT as they would on standard VAT accounting. In the Autumn Statement the Chancellor of the […]

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Budget 2017 – The last Spring Budget?

The last Spring budget? Mr Hammond opened his budget speech by declaring that his “last Spring budget” was not the first! Apparently Norman Lamont presented the first “last Spring Budget” 24 years ago.  However the tax landscape has changed greatly since then and the system of announcing intentions, running consultations and only then introducing legislation, […]

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Budget 2017 – Business Rates

Budget changes to soften the impact of 2017 rates revaluation Many businesses are dreading the impact of the five yearly revaluation which will take effect in April 2017.  Details of a transitional relief were announced in the 2016 Autumn statement, ensuring that no small property would see more than a 5% increase before inflation due […]

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Budget 2017 – NICS for the self-employed

Big changes planned for NICs payable by the self-employed Mr Hammond was keen to point out that the self-employed are paying less in NIC than the employed, a fact which he described as unfair.  In his comparison he conveniently made the difference appear greater by quoting both employee’s and employer’s NIC contributions when describing how […]

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Budget 2017 – R&D tax relief is safe!

Research & Development Tax Relief is Safe! Many businesses have been concerned that the economic impact of Brexit might have a detrimental effect on the enhanced tax relief and tax credits currently available for R&D expenditure.  The fact that the government were conducting a review was regarded by many as an indication that they might […]

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Making Tax Digital – for Partners and Partnerships

In August 2016, the government published their proposals on how businesses will maintain their accounting records for tax purposes in the future and also how businesses will report their profits to HMRC. At the end of January 2017, after consideration of suggestions made by interested parties, revised proposals on many aspects of the new regime […]

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Making Tax Digital – for the Self-employed

In August 2016, the government published their proposals on how businesses will maintain their accounting records for tax purposes in the future and also how businesses will report their profits to HMRC. At the end of January 2017, after consideration of suggestions made by interested parties, revised proposals on many aspects of the new regime […]

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Making Tax Digital – for Landlords

In August 2016, the government published their proposals on how businesses will maintain their accounting records for tax purposes in the future and also how businesses will report their profits to HMRC. At the end of January 2017, after consideration of suggestions made by interested parties, revised proposals on many aspects of the new regime […]

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