Changes to the Dividend Tax regime, which will see the existing tax-free allowance fall from £5,000 to £2,000 from April next year, are set to hit small business owners and investors.
The changes currently being considered by MPs as part of the Finance Bill 2017-19 had been delayed when what is now the Finance Act 2017 was dramatically cut down in order to secure its passage through Parliament ahead of June’s snap General Election. Continue reading
Students who have been heading back to university in recent weeks could be entitled to a helpful tax refund, according to HM Revenue & Customs (HMRC).
Those who worked through their summer holidays may have been taxed through PAYE, as if they were earning at that level year-round, but it is unlikely that their earnings will have exceeded the personal tax-free annual allowance of £11,500. Continue reading
Late payments are a headache that most small businesses are familiar with, but new research shows that late payments create problems for the economy as a whole.
Figures published by the Department for Business, Innovation and Skills show that UK SMEs are losing £250 billion in cash flow as a consequence. Continue reading
It’s all change when it comes to cash. Last month saw the introduction of a new £10 note and this month sees our last chance to spend the old round £1 coin.
Following on from the new Churchill £5 note, the new £10 note is made from the same polymer material, with sophisticated built-in security features. Continue reading
An Oxfordshire cricket club has been left having to stump up a hefty tax bill after losing a VAT dispute.
Despite the common misconception that charitable organisations are exempt from VAT, Eynsham Cricket Club was forced to pay 20 per cent VAT in respect of works to construct its new pavilion. Continue reading