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HMRC and SA302s for Mortgages and Loans

by | Dec 6, 2017 | Tax News

This in by email from HMRC This is a reminder that, on the 5 September, HMRC changed the way we deal with requests for copies of the SA Tax Calculation (sometimes referred to as the SA302). From that date we no longer issue paper copies of the tax calculation if the...

Budget: Income tax changes

by | Dec 1, 2017 | Tax News

The chancellor made a number of tweaks to income tax rates, rules and allowances.  The following changes will be implemented from April 2018:  Personal Allowance increase Personal allowance has been increased from £11,500 to £11,850. This means higher rate tax rates...

Christmas Shutdown 2017

by | Nov 27, 2017 | YogaTax News

Just to let clients know the Whitefield office will be closing for Christmas at midday Friday 22 December 2017, and reopening 9am Tuesday 2 January 2018. During that time, if you need urgent help on something please email, and we will do our best to help. For company...

Budgeting for a Yoga Teacher

by | Nov 24, 2017 | Tax News

We all have different strengths and weaknesses.   Mostly – but not always – Yoga Teachers come to the job from other walks of life, and some will have a good grasp of finances, some less so. A question that comes up sometimes is budgeting and forecasting, as part of...

Autumn 2017 Budget

by | Nov 22, 2017 | Tax News

A very quick set of “first impressions” on todays budget speech, as always focused on a typical YogaTax client – so I’m not paying a lot of attention to the wider proposals on public expenditure, excise duty on tobacco/alcohol, and taxes like...

Class 2 NI abolition put back 12 months

by | Nov 3, 2017 | Tax News

The self employed pay both Class 2 and Class 4 NI.   Class 2 is a fixed weekly amount – sometimes called a stamp – Class 4 a variable amount related to profit. Its long been intended to abolish Class 2 NI, and the set date was April, 2018.  Yesterday, 2...

Claiming Clothes – HMRCs rules

by | Oct 19, 2017 | Tax News

Theres enough complexity in life, and you’d think that tax could be black and white – what you can claim or what you can’t claim.  Alas that simplicity doesn’t exist;  the area of allowable expenses is one of the key areas of uncertainty and...

Training and CPD – HMRCs guidance

by | Sep 18, 2017 | Tax News

There is often a grey area around claiming training costs and CPD. The rules are that “new skills” training can’t be claimed; CPD style training can be claimed. Alas there is often not a clear cut distinction and judgement is called for. Be prepared...

HMRC introduces 2 Step Verification

by | Aug 17, 2017 | Tax News

Users promised greater security and a safer online experience. From September 2017, HMRC will make it a requirement for all businesses using their online tax accounts to register for 2 Step Verification (2SV) – if not already using it. Users logging into their tax...

Tempted to run a Social Enterprise or Charity?

by | Jul 19, 2017 | Tax News

As businesses mature, and peoples priorities change, thoughts often turn to Social Enterprises and Charities, both for existing businesses and new ventures. We’ve written a new guide about how these work, and some of the pros and cons. You can read our guide...

Making Tax Digital Deferral

by | Jul 14, 2017 | Tax News

A bit of good news for a summer Friday morning. Yesterday – Thursday 13 July – the Government announced a deferral in the timescales for the ambitious Making Tax Digital programme – the one where businesses would have to submit quarterly figures...

Some Feedback We Received

by | Jul 10, 2017 | YogaTax News

Its nice to get feedback from clients, and this is something sent to us recently – we have permission to share: I just wanted to say thanks to you all for your helping me over the last 16 years.  It’s been an absolute pleasure dealing with you always.  You...
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