Business Tax – Making Tax Digital for Business

Extensive changes to how taxpayers record and report income to HMRC are being introduced under a project entitled Making Tax Digital for Business (MTDfB). The government has decided how the general principles of MTDfB will operate. Draft legislation has been issued on some aspects and more will be published in Finance Bill 2017. Under MTDfB, businesses, self-employed people and landlords will be required to: Maintain their records digitally, through software…
Changes to Personal Tax - what this means for your savings and pension

Changes to Personal Tax – what this means for your savings and pension

Following on from the first blog in our 2017 Budget Summary series we look at other areas around Personal Tax that are affected by the announcements made by Chancellor Philip Hammond on Wednesday 8 March. In this blog, we focus on savings, pensions, tax-free childcare and Universal Credit. Read our previous blog changes to Personal Tax – how this affects your personal allowance and tax rates for information on the…