12/04/2019
Making Tax Digital (MTD) is here to stay and ultimately aims to change the structure of most of the tax system. Change is never easy to implement but here are five useful things you need to know which will help you adapt and succeed under the new regime.
20/12/2018
HMRC does allow limited companies some scope to spread a little festive cheer to directors, staff and business associates. It is not often that there is generosity from HMRC so make the most of it!
05/11/2018
We recently saw Philip Hammond deliver his 2018 Budget – the last one before the anticipated ‘Brexit’ and one that could be obsolete should we have a ‘no-deal Brexit’. The below is a summary of Carrington Accountancy’s Budget Report 2018, which details all the main announcements and changes.
31/10/2018
Making Tax Digital or MTD is an initiative put together by HMRC to revolutionise the tax system. It is their aim that the UK has ‘one of the most digitally advanced tax administrations in the world’ and that the majority of the whole tax system, including self-assessments will become completely automated. The ‘new improved’ tax system will require the majority of businesses to maintain and submit digital records using compatible and approved software. Whilst it may well require short term changes and possibly some expense, over time it should result in your record keeping becoming more efficient. We will help you to secure these efficiency gains.
17/10/2018
Its true to say that the new trading allowance, introduced in The Finance Act (No.2) 2017 has largely gone unnoticed. However for many individuals, especially those who have a small second income generated by carrying out some work, it is proving to be a very useful tax break. So what exactly is it?
