News from Baxter & Co, Chartered Certified Accountants in Orpington, Kent

People with Significant Control (PSC) Register Changes from June 2017

July 17, 2017
Baxter & Co

The new requirement for registered companies to keep a PSC register came into force from April 2016. From that date a company had to create and maintain a register of any people with significant control or influence over the company….

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The Government confirms a new timetable for Making Tax Digital

July 13, 2017
Baxter & Co

As widely predicted following the outcome of the election, the timetable for Making Tax Digital has been pushed back.  In an announcement today, the government confirmed: only businesses with a turnover above the VAT threshold (currently £85,000) will have to…

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What you need to know about the Employment Allowance

June 22, 2017
Baxter & Co

The Employment Allowance is a great tax saving opportunity for most employers. The allowance helps to reduce the amount of National Insurance Contributions (NICs) that employers pay each year by up to as much as £3,000. Why was Employment Allowance…

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Off Payroll Working – the new rules for the public sector

March 27, 2017
Baxter & Co

What it means for Academy Trusts The government confirmed in the Budget on 8 March 2017 that the new rules for ‘off payroll working’ in the public sector will apply from 6 April 2017. The new rules apply to all…

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NIC U TURN

NIC U TURN

March 15, 2017
Baxter & Co

The budget last week contained two headline tax raising measures, the reduction in the dividend allowance and an increase in Class 4 national insurance contributions which affects the self-employed, both to take effect from 6 April 2018.  Within a week,…

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BUDGET MARCH 2017 – highlights

BUDGET MARCH 2017 – highlights

March 9, 2017
Baxter & Co

From April 2017: new announcements Package of measures to give some relief to those small businesses particularly badly affected by business rates revaluation. Threshold for simplified ‘cash basis’ accounting for self-employed businesses raised from VAT registration threshold to £150,000 for…

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Goodbye Autumn, Hello Spring?

November 24, 2016
Baxter & Co

Going back to 1982, we have had Autumn Statements, which for a few years under Kenneth Clarke became Summer Statements, before returning once more to the autumn under Gordon Brown, when it was renamed the Pre-Budget Report and then back…

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Autumn Statement 2016 – key points

November 24, 2016
Baxter & Co

Effective immediately From 23 November 2016 to 31 March/5 April 2019, businesses will be entitled to a 100% First Year Allowance for the cost of installing electric charge-point equipment for electric vehicles. From 1 December 2016, income tax and CGT…

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Work-related training

October 11, 2016
Baxter & Co

We sometimes get asked by employers about the tax rules on training. Most employers know that if they pay for a member of staff to attend a training course, that will not be a taxable benefit for the staff member….

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Termination payments – what is changing?

October 5, 2016
Baxter & Co

During the summer the Government has been consulting on draft legislation to change some aspects of the tax and National Insurance treatment of termination payments. Legislation is expected to be included in the Finance Bill next year and will take…

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