With the end of the 2017/2018 tax year approaching you may want to make sure you have considered and where possible made use of the available allowances and exemptions, before the end of the current fiscal period (5th April).
Life, business and the law
The law never stands still, and the way it applies to you and your organisation is constantly evolving. Our people are on top of these developments and can keep you up to date with some of the most interestings aspects of these changes. Check out our articles and updates for our perspective on issues that might affect you.
Latest articles from Amber Heron
Request for Annual Scottish Finance Bill made by leading organisation the Chartered Institute of Taxation
The Chartered Institute of Taxation (CIOT) has confirmed that it has renewed its request for the introduction of an annual Scottish Finance Bill to improve scrutiny of devolved tax legislation.
Derek Mackay the Scottish Finance Secretary delivered the Draft Scottish Budget on Thursday 14 December announcing a new 5-band tax system. Scottish taxpayers, other than those with very straight forward affairs, will find their tax calculation is complicated as a result of these multiple rate bands.
Further to our announcement on 10 November, HMRC have responded to extensive lobbying by agents and professional bodies to extend the deadline for existing Trusts from 31st January 2018 to 5th March 2018.
HMRC are introducing a simpler way to self-assess from April 2018. If this applies to you, you will no longer need to complete a self-assessment tax return. Instead, HMRC will issue a tax calculation to you, using the information that they hold about you.