Making Tax Digital

Making Tax Digital – the latest news

It’s had more plot twists than an episode of Dallas (old series, not the “re-imagined” 2000s version) and it’s always keeping everyone guessing. Yes, Making Tax Digital’s introduction has been revised – again. Time will tell whether it’s been a dream and we’ve been in the shower all this time but here’s the latest news[…]

Big changes in payroll

Big changes in payroll – update

As many of you will be aware, there have been lots of big changes in payroll in recent years. With the economy and how work is defined seemingly in constant flux, it’s almost certain that further big changes are coming soon. Let’s look at some of the more recent developments. Big changes in payroll –[…]

Marriage allowance – worth much to you?

Marriage allowance – worth much to you?

“The £230-a-year marriage allowance you could be missing out on”, The Guardian newspaper reported last week. 2 million couples are not claiming their marriage allowance, according to HMRC. “Given the pressure on household finances at the moment, it’s vital that people claim the money that is theirs to be had,” former pensions minister Steve Webb[…]

Corporation tax trading losses

Corporation tax trading losses

Corporation tax trading losses allow you to claim tax relief if your business has lost money from trading, the sale or disposal of an asset, or on property income. You can also separate trading losses from profits made on the sale of an asset so the system offers a lot of flexibility to you. You[…]

Employment Allowance

Employment Allowance – what is it?

The Employment Allowance can reduce your National Insurance Bill by up to £3,000 a year. Originally launched as a scheme to encourage one-person businesses to take on the first member of staff, it’s one of HMRC’s most utilised tax claims. Modina looks at the Employment Allowance and how it affects your business. First, can everyone[…]

SA302 – what to do now it’s gone

SA302 – what to do now it’s gone

The SA302 has gone. Directors and the self-employed had it so much easier before the financial crisis when they were looking for a mortgage. Remember the heady days of self-certified mortgages up to 125% LTV from Northern Rock? Remember how Northern Rock financed 25-40 year mortgages via 3-month rolling financial market loans? All ancient history[…]