Tax Diary December 2017/January 2018
1 December 2017 - Due date for corporation tax due for the year ended 28 February 2017.
Merry Christmas from MCA
Merry Christmas from everyone at Melanie Curtis Accountants!
Business Considerations for 2018
Take a look below at some of the considerations business owners should be aware of in 2018.
Considerations for Individuals for 2018
Take a look below at some of the considerations individuals should be aware of in 2018.
Tax Diary January/February 2018
1 January 2018 - Due date for corporation tax due for the year ended 31 March 2017.
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:
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.
Marriage Allowance Extended and Offshore Trusts
There is a small increase in this allowance to £1,185 from April 2018. This is the amount of unused personal tax allowance that can be transferred between spouses, or civil partners, if the person receiving the transfer is not a higher rate tax payer.
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.