This is considered an out of date browser. This website has been developed with modern browsers in mind to allow it to display at its best in a wide variety of viewing situations - including mobile viewing. But we haven't supported older browsers like IE8. Please upgrade to the latest version of Internet Explorer - or try Mozilla Firefox or Google Chrome. Both are excellent browsers.
Business rates have been devolved to Scotland, Northern Ireland and Wales. The business rates revaluation takes effect in England from April 2017 and will result in significant changes to the amount of rates that businesses will pay. The government announced £3.6 billion of transitional relief in November 2016. The Chancellor has now announced £435 million of further support for businesses. This includes:
The government will also introduce a £1,000 business rate discount for public houses with a rateable value of up to £100,000, for one year from 1 April 2017. This is subject to state aid limits for businesses with multiple properties.
In addition to measures specifically referred to earlier in this summary, other measures announced include:
The government will introduce a 25% charge on transfers to QROPS. This charge is targeted at those seeking to reduce the tax payable by moving their pension wealth to another jurisdiction. Exceptions will apply to the charge allowing transfers to be made tax free where people have a genuine need to transfer their pension, including when the individual and the pension are both located within the European Economic Area.
The government will consult on options to combat missing trader VAT fraud in the provision of labour in the construction sector, in particular, applying the reverse charge mechanism so the recipient accounts for VAT.
HMRC are actively monitoring National Insurance Employment Allowance compliance following reports of some businesses using avoidance schemes to avoid paying the correct amount of NICs. The government will consider taking further action in the event that this avoidance continues.
Please contact us for further details if this is an area of interest to you.
Disclaimer | The Budget 2017
Making Tax Digital
The Making Tax Digital pilot for Self Employed businesses launched in March which will progress in a few years’ time a...
Selling your Business
When selling a business, the process is much more complicated than a simple transaction and a signature. It’s all abou...
Flexible working staff over the summer holidays, how will this affect your payroll?
The school holidays are soon upon us and it can be a difficult time for working parents who are usually juggling managin...
What's a reasonable excuse to not file your tax return on time?
It is very known that when a tax return has been issued, but not filed by the statutory deadline on time then an automat...
What must go through your payroll and be subject to PAYE?
You may think it’s obvious what must be going through your payroll and be subject to PAYE however, it’s not just sal...
Do you know who controls your business?
The law requires all Limited Companies and LLPs to tell Companies House about the people with significant influence or c...
Employing casual staff
As an employer you must pay a worker a fair wage for a fair days work and also provide a workplace pension, welfare and ...
When entering your information into your payroll, even it is all correct you still need to make sure that it is reported...
Expenses & Benefits Review
Have you ever thought of initiating an expenses and benefits review? What better time of year than now to work through t...
The team at Sence have been so helpful and understanding from the moment I started to use their services.
Red Door Studios