The tax penalty system is intended to make penalties simpler to understand and more consistent across many taxes. The penalties can range from 0% where reasonable care is taken, but nonetheless an incorrect return is submitted up to 100% of the taxread more
From next April, Wales will join Scotland in becoming responsible for some of the taxes paid locally. This will begin with the introduction of the new Welsh land transaction tax (LTT) which will replace the UK stamp duty land tax (SDLT) as well asread more
In a boost for the Midlands economy, Coventry has been named UK City of Culture 2021. The announcement was made by the Minister for Arts, Heritage and Tourism, John Glen after Coventry beat four other cities that were in the running.
The title of
Entrepreneurs’ relief applies to the sale of a business, shares in a trading company or an individual’s interest in a trading partnership. Where entrepreneurs’ relief is available CGT of 10% is payable rather than the normal main rate of 20%. Thisread more
The employment allowance of £3,000 per year is available to most businesses and charities and can be used to be offset against their employers Class 1 NIC bill. The allowance can be claimed as part of the normal payroll process.
An employer can
The Chancellor, Philip Hammond has announced that he will deliver his Spring Statement to the House of Commons on Tuesday, 13 March 2018.
This will be the first Spring Statement to take place following the government’s decision to switch to a new