News from your Accountants in Harrogate & Leeds

Keep yourself up-to-date on the latest accountancy news and information with our useful articles.

Making Tax Digital - dates for implementation

April 7th 2017

The current tax year, 2017-18, is the last year we have to prepare for the advent of the new reporting system, Making Tax Digital for Business (MTDfB). Following the recent budget, it is now clear which businesses are going to be affected and when. Dates for implementation will be:

Simplified Cash Basis

April 7th 2017

For some time now, unincorporated businesses have been able to submit simplified accounts in order to settle their tax liabilities. The main advantage of using this system is that income and expenditure is based on money received from customers and money paid to suppliers. In other words, the accruals basis, where income and outgoings are based on the value of invoices sent and received, is not applied.

Class 4 NICs

April 7th 2017

The Chancellor announced two increases in Class 4 NI contributions for the self-employed in his budget and in the following week withdrew the increases for the term of the current parliament.

Dont Gamble on Exhibition Success

April 4th 2017

How Yorkshire Accountancy Firm DSC is Preparing for the Business Market. By John Garbutt, director of DSC Accountants

Spring 2017 Budget Summary

March 10th 2017

Budget Statement 8 March 2017. Our summary of a selection of specific tax changes and other budget announcements for 2017-18 and future years follow.

Personal tax and National Insurance changes for 2017-18

March 7th 2017

Personal tax and National Insurance changes for 2017-18. In no particular order changes already announced include:

Buy to let property owners - time to start planning for tax changes

March 7th 2017

Property business owners, particularly buy-to-let landlords, have been hit with a number of quite dramatic changes in their tax status. One of the most draconian is the gradual disallowance of tax relief for finance payments that starts April 2017.

The UK is to get its first Small Business Commissioner

March 7th 2017

A search is underway to recruit the UK’s first Small Business Commissioner. The commissioner will be a high profile role supporting small businesses in payment disputes with their larger customers.