Philip Gale & Co. Chartered Accountants and Business Advisers info@philip-gale.com
Philip Gale & Co.Chartered Accountantsand Business Advisers                                                                                           info@philip-gale.com

We keep you updated

We provide our clients with regular updates on changes in taxation regulation, news from the world of accounting and, of course, information about the latest developments at Philip Gale & Co.

Budget - 22 November 2017  - Further details to follow

Key points

  • From April 2018, the personal allowance for income tax will rise to £11,850 and the basic rate band will be extended so that higher rate tax will start at taxable income of £46,350. 
  • The national living wage will rise to £7.83 from £7.50 from April 2018.
  • A package of additional funding and amendments will be applied to Universal Credit.
  • VAT registration threshold will remain at £85,000 for at least the next two years.
  • Rises in business rates will be pegged to CPI rather than RPI.
  • Additional funding for electric vehicles and other technology.
  • Stamp duty abolished on first £300,000 for first time buyers.
  • Additional funding for the regional investment and the transformation of major ciites.
  • More housing and planning reforms.

Previously announced changes taking effect from April 2018

  • Phased removal of higher-rate tax relief for mortgage interest for buy-to-let investors
  • The tax-free dividend allowance reduces from £5,000 to £2,000 from April 2018
  • The main rate of National Insurance contributions (Class 4) for the self-employed will increase from 9% to 10% in April 2018, and then to 11% from April 2019

COVID 19 measures

Key points

  • The Coronavirus Job Retention Scheme (CJRS) was extended until 31 October 2020. Claims under this scheme must be submitted by 30 November.
  • The new job support scheme will run from 1 November for 6 months.
  • Employees having to work from home because of COVID-19 will incur additional household expenses. If these are not reimbursed by their employer,  a claim can be made for tax relief on £6 per week or £26 per month for the extra costs.
  • Coronavirus Business Interruption Loan and Bounce Back LoanScheme are available for businesses affected by Covid-19.
  • The Self-Employment Income Support Scheme Grant has been extended and will provide further support for those eligible in the form of two grants, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021.

Auto Enrolment - 3 year anniversary re-enrolment

Have you received a letter from The Pension Regulator? Don't ignore it. You probably need to do something and could be fined if you don't. Call us to check.

 

After three years, all employers with work place pension schemes are faced with re-enrolment and  re-declaration of compliance. Letters will come from the Pensions Regulator and should not be ignored.This is a real headache and there are penalties for failing to act.

 

Tip: Make sure you know your date and don't leave it until the last minute.

We can help you. 

 

Need help, please get in touch for further information.

 

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    Landlords

Maxing Tax Digital is coming

We have an innovative and cost effective solution to help you manage your property portfolio and deal with your tax and other reporting requirements.

 

Contact us now

           R&D TAX CLAIMS

Are you aware of the changes coming on 1 April 2023

Are you a small or medium-sized enterprise (SME) considering R&D tax relief ?

Pre-notification is comng.

Speak to us now.

We will work with you to make your claim and may bring in specialists, depending on the circumstances.

Contact us now

Making tax digital (MTD) is coming for all self employed business and landlords turnover with greater than £10,000

Interested in how we can help you and your business?

Find out now with a no-obligation, exploratory discussion.

ACT NOW.

     Construction and VAT

Are you involved in construction?   

- Do you understand the rules and the different rates of VAT that apply to the construction industry?     

Do you understand the domestic VAT reverse charge?                                            

DO YOU NEED HELP?

FIXED FEE OFFER

We offer a fixed annual fee service for all clients.

Our offering for new or  small businesses can include online bookkeeping, typically Xero 

More details

Address

Devonshire House

Manor Way

Borehamwood

Hertfordshire WD6 1QQ

 

Tel: +44 (0) 7801 954757

CONTACT US

You can contact us on the following telephone number if you have any queries or wish to make an appointment:

Tel: +44 (0) 7801 954757

info@philip-gale.com 

Alternatively, please use our contact form.

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