Tax for Landlords Series: Introduction

We are delighted to announce our partnership with Kingsley Hamilton Estates, who specialises in sales, new homes, lettings and property management.  K&B Accountancy Group’s clients are invited to register for VIP access to their latest property portfolio as well as exclusive pre-public release opportunities. As tax on property income is one of the most popular…

What is classified as ‘goods’ when determining if you are a limited cost business after 1 April 2017?

One of the most frequently asked questions from our clients on the VAT flat rate change for a limited cost business is: “what is counted as ‘goods’ when determining if they need to use the higher rate of 16.5%?” According to HMRC guidance, ‘goods’ are movable items or materials exclusively used in your limited cost…

Rates and Thresholds for Tax Year 2017/18

Rates, Allowances and Duties for Tax Year 2017/18 Employers can use the following rates and thresholds for the tax year 2017/18 when operating payroll or providing expenses and benefits to their employees. Click on each of the headings to view the rates and thresholds. 1 Tax thresholds, rates and codes 2 Class 1 National Insurance thresholds 3…

Off-Payroll Working in the Public Sector – HMRC Update

Last Friday (3 February), HMRC published further guidance regarding off-payroll working in the public sector from 6 April. The update provided clarification that the responsibility of determining the IR35 status of a Personal Service Company (PSC) worker would lie solely with the hiring Public Authority. If the Public Authority determines the PSC worker to be inside…

Contractors should prepare for a spotlight on taxes

This article originally appeared in IPSE Magazine issue 59. IPSE, the Association of Independent Professionals and the Self-Employed, is the UK’s largest representative body for the self-employed community, including freelancers, contractors, consultants and independent professionals. We exist to support and enable our members, and the wider population of self-employed, through a range of support services,…

Self-Assessment Tax Return Deadline 2015/2016

It’s that time of year again where the self-assessment tax return deadline 2015/2016 is almost upon us. We hope that you are keeping up to date with all of your paperwork since it can be all too tempting to switch off before your holidays have even begun. If you are processing your own tax return…