Making TAX Digital – VAT

Making Tax Digital – VAT Making Tax Digital – VAT : HMRC have announced plans to make tax digital in the coming years. VAT is the first part of this making tax digital plan, to come into effect from 1 April 2019. Making Tax Digital – VAT affects most businesses, both individual and businesses. All VAT registered businesses will need … Read More

Taxation of dividends


Dividend income are treated as the top band of income. In order to work out your tax payable, you will need to add your income from dividends to your other taxable income. You may pay tax at more than one rate. You don’t pay tax on dividends from shares in an ISA. Basic rate Higher rate Additional rate 7.5% 32.5% … Read More

Changes to Residential Landlords rental income tax

landlord income tax

Under the previous tax system, landlords could deduct all their mortgage interest cost from their rental income before calculating their tax liability. However, from April 2020 the tax relief on finance costs will be restricted to the basic rate of income tax which is currently 20%. This is phased in from April 2017. Furthermore, Finance costs will not be taken … Read More

Effect of Brexit on Small Businesses

Brexit Accounting

It has been more than one year since Britain voted to leave the EU. Triggering of article 50 of the Lisbon Treaty has started a legal process of divorcing United Kingdom from Europe. Clearly this has resulted in a great deal of uncertainty for all businesses. Small businesses find themselves in a state of limbo. As for any change, Brexit … Read More