Sage-blog-headersscottish budget propsals

Nov 15

Scottish Budget proposals

On 14 December, the Scottish Budget will set out the Scottish Government’s financial and tax plans. Currently, taxpayers who are resident in Scotland pay income tax on their non-savings and non-dividend income at rates and thresholds determined by the Scottish Government. Scottish higher and additional rate taxpayers may pay more income tax than those with […]

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Sage-blog-headershelp to save accounts

Nov 13

Help to Save Accounts

The government have announced details of a new Help to Save saving scheme. The scheme is government backed and designed to support working people on low incomes build up their savings. The scheme, administered by HMRC, will be open to working people who receive Working Tax Credits, and those who receive Universal Credit with a […]

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Sage-blog-headersautumn budget wishlist

Nov 09

Autumn Budget wishlist

With the Chancellor’s first Autumn Budget due to be presented on 22 November, professional bodies and business groups are setting out their Budget wishlists. Recommendations include changes to Business Rates, a ‘Brexit ready’ Budget, incentives for business and an appeal for changes to the Apprenticeship Levy. The ICAEW is urging that the government give sufficient […]

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Sage-blog-headers-budget

Oct 26

Autumn Budget on Wednesday 22 November and 14 December

Chancellor Philip Hammond has announced that he will deliver the Autumn Budget on Wednesday 22 November. The Autumn Budget will be the second Budget to be delivered this year, and will outline the government’s proposed tax changes and spending plans in response to forecasts from the Office for Budget Responsibility (OBR). The 2017 Autumn Budget […]

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Sage-blog-headers-growing business

Oct 23

HMRC offer tax support to growing businesses

HMRC have announced the introduction of a new service to directly help mid-sized businesses as they expand and grow. This is to be known as the Growth Support Service. According to HMRC there are approximately 170,000 mid-sized businesses registered in the UK. The businesses with either a turnover of more than £10 million or more […]

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Sage-blog-headers-trusts

Oct 19

Trusts Registration Service

HMRC have launched a new Trusts Registration Service (TRS), so that trustees can register their trust online and provide information on the beneficial owners of the trust. The new service launched in early July for trustees and replaces the 41G (Trust) paper form, which was withdrawn at the end of April. Under the existing self […]

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Sage-blog-headers-MTD

Oct 16

Making Tax Digital for VAT

The government have issued information on how Making Tax Digital for Business (MTDfB) is expected to work for VAT once the rules are introduced in April 2019. Under the proposed rules, which have been issued subject to consultation, VAT registered businesses with turnover over the VAT registration threshold will be required to submit their VAT […]

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Sage-blog-headers-phishing

Oct 13

HMRC phishing and scam advice

HMRC have updated their list of examples of websites, emails, letters, text messages and phone calls used by scammers and fraudsters to obtain individual’s personal information. The guidance can be used to help you decide if a contact from HMRC is genuine, this guidance provides examples of the different methods that fraudsters use to get […]

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Sage-blog-headers-paper tax returns

Oct 11

Deadline for paper self assessment tax returns

For those individuals who have previously submitted paper self assessment tax returns the deadline for the 2016/17 return is 31 October 2017. Returns submitted after that date must be submitted electronically or they will incur a minimum penalty of £100. The penalty applies even when there is no tax to pay or the tax is […]

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Sage-blog-headerschildcare

Sep 29

Childcare Services compensation

The government are offering compensation to those who have been affected by problems with the implementation of Tax-Free Childcare. Individuals who have been affected may be able to get a government top-up as a one-off payment for Tax-Free Childcare. The government will also consider refunding any reasonable costs directly caused by the service not working […]

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Sep 27

SAGE & COMPANY COMPLETE PURCHASE OF PARRY SCHOLES CHARTERED ACCOUNTANTS

It’s been a busy couple of weeks here at Sage & Company as we have completed the purchase of Parry Scholes Chartered accountants in Denbigh and recruited three new members of staff. The purchase of the Parry Scholes business has grown the practice significantly and the Sage & Co team are relishing the opportunity to […]

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Sage-blog-headershmrc webchat

HMRC online forum and webchat

HMRC has announced the introduction of a new online tax forum and web chat service for small businesses. HMRC are advising that the new service called the Small Business Online Forum offers advice on tax matters as well as help with: starting a business support for growing a business – including taking on employees and […]

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Sage-blog-headersnew employers

Sep 25

Auto enrolment for new employers

Under pensions, auto enrolment employers have to enrol qualifying employees into a workplace pension. Duties include paying contributions for the employee. The process of auto enrolment has been phased in from October 2012 when the largest employers had to comply with the rules. However the rules are set to change and new employers will have […]

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Sage-blog-headersdata protection

Sep 21

Get ready for the new data protection rules

The government is to introduce new data protection rules under the General Data Protection Regulation (GDPR) which takes effect from 25 May 2018. Under the GDPR businesses will have increased obligations to safeguard the personal information of individuals which is stored by the business. These rules apply to the information of customers, suppliers or employees. […]

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Sage-blog-headerscompany cars

Sep 18

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which took effect from 1 September 2017. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or […]

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Sage-blog-headersguidance for employers

Sep 14

Pensions Auto Enrolment Compliance

The Pensions Regulator (TPR) has begun carrying out employer spot checks to make sure employers are complying with their automatic enrolment duties and that they are giving their staff the workplace pensions they’re entitled to. According to the TPR, these inspections help them to understand any challenges employers are facing, and whether TPR needs to […]

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Sage-blog-headersguidance for employers

Sep 11

Guidance for employers

HMRC have issued their latest guidance for employers in the August edition of the Employer Bulletin. This publication, which is issued every two months, includes articles on: Reporting Pay As You Earn in real time Optional Remuneration Arrangements Tax codes – Get it right first time PAYE penalties – continuation of the risk-based approach to charging penalties […]

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Sage-blog-headerstaylor

Aug 25

Taylor Review of employment practices

The long awaited Taylor Review of employment practices suggests that a national strategy is needed to help provide security in such areas as wages, quality of employment, education and training, working conditions, work life balance and the ability to progress at work. One of the areas of focus relates to the ‘gig’ economy, with the […]

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Sage-blog-headerslabour

Aug 22

Latest labour market statistics

The latest labour market statistics for the period March to May 2017 showed a 175,000 rise in employment and 64,000 fall in unemployment. Estimates from the Labour Force Survey show that, between December 2016 to February 2017 and March to May 2017, the number of people in work increased, the number of unemployed people fell, […]

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Sage-blog-headersmaking tax digital

Aug 18

New timetable for Making Tax Digital

The government has announced a revised timetable for the introduction of Making Tax Digital for Business (MTDfB). MTDfB introduces extensive changes to how taxpayers record and report income to HMRC. Unincorporated businesses, including landlords, were expected to be the first to see significant changes in the recording and submission of business transactions but the government […]

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