Are you employing Apprentices or considering employing Apprentices? From April 2017, the Apprenticeship Levy affects all employers in the UK. The levy is chargeable at 0.5% of your annual pay bill (the amount on which you pay Class 1 secondary NICs). However, an annual levy allowance of £15,000 means that you will only be required... Read more »

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Whilst the recent positive economic results may have provided Philip Hammond’s first (and last) Spring Budget with an upbeat tone, questions over the UK’s global economic future outside of the EU meant that the Chancellor needed to stick with his reputation and maintain a steady path. To ensure we have enough “gas in the tank”... Read more »

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Tax on land disposals As the pressure to build new houses increases and councils are able to relax planning rules, the possibility of realising the development potential on long held land banks has grown. The tax payable on the realisation of these banks can be a complicated area with differences depending on what the land... Read more »

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In a move intended to stop what the government calls ‘off- payroll’ payments, schools and academies will be required to deduct tax and NICs on certain payments to personal service companies made from 6th April 2017. The payments affected will be for contracts that would have been employment contracts if they had not been arranged... Read more »

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In a move intended to stop what the government calls ‘off- payroll’ payments, Public Authorities will be required to deduct tax and NICs on certain payments to personal service companies made from 6th April 2017. A Public Authority is defined as an organisation that is subject to the Freedom of Information Act 2000 (2003 Scotland).... Read more »

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  In April 2016, the lifetime allowance applicable to pension savings was further reduced from £1.25 million to £1 million. At the same time, two new transitional protection regimes were introduced: Fixed Protection 2016 and Individual Protection 2016. Fixed Protection 2016 Fixed Protection 2016 is aimed at anyone who expects the value of their pension... Read more »

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Background In his autumn statement the Chancellor announced a change to the VAT Flat Rate Scheme (FRS) to take affect from 1st April 2017. The change has been made to counteract what HMRC perceive to be “aggressive abuse” of the FRS. What is the FRS? The FRS is a simplified VAT accounting scheme for small... Read more »

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Optional Remuneration Arrangements – Cash Allowances & Salary Sacrifice The draft legislation for Finance Bill 2017 has just been issued following the Chancellor’s Autumn Statement. The Bill will change the way in which certain salary sacrifice schemes are taxed. Pensions, childcare, cycle to work and holiday salary sacrifice schemes are not affected. The changes will... Read more »

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