Fuel Duty and Vehicle Changes
Fuel duty no change - For 2018, the fuel duty will remain frozen, for the eighth consecutive year.
Autumn Budget Summary 2017
Prospects for growth, especially for productivity have been downgraded, but the Chancellor was bullish in his forecasts for investment and the Government’s intention to sort out the slow pace of house building in the UK. A few non-tax comments of note were:
Business Tax Changes
Corporation Tax changes - Although there is no change to the rate of Corporation Tax, maintained at 19%, HMRC is to freeze indexation allowance on corporate capital gains for disposals after 1 January 2018.
Universal Credit (UC) Changes
In response to recent adverse publicity the Government has agreed to various changes that are intended to ease the financial hardship for new claimants. They include:
National Living Wage (NLW) and National Minimum Wage (NMW) increases
From April 2018, the NLW will increase from the present £7.50 per hour to £7.83 per hour.
Abolishing Stamp Duty Land Tax for Certain First-time Buyers
With immediate effect, first-time buyers will pay no stamp duty on homes costing no more than £300,000.
Personal Tax and Miscellaneous Matters
The personal allowances for 2018-19 is £11,850 (2017-18 £11,500). According to HMRC, this means that an average taxpayer will pay £1,075 less tax than in 2010-11.
Getting Business Infrastructure Right
Working as a freelance Personal Training and Group Fitness Instructor sounds like it could be liberating, interesting and a good-paying job. But the truth is, like any independent contractor, there are business issues that have to be considered, before you take your first class or train a client.
So You Want to Be an Independent Contractor
Confused about what it means to be an Independent Contractor? Maybe you are working for a business but you want to start your own business.
Why Should I Train People When They Just Leave
Watch the video below to find out why training your staff is crucial to the success of your business.
Carry Back Charitable Donations
One of the few remaining options to carry back tax allowable payments to a previous tax year is the facility to set off certain charitable donations made after 5 April 2017, to the tax year 2016-17.