Tax Tips and More | Autumn 2018 Edition

Welcome to the quarterly edition of our Autumn Newsletter.

We are now in the last quarter of the year; have you achieved everything you set out to? 

One quite crucial thing we recommend is that you start thinking about getting your business compliant for Making Tax Digital, if you haven’t already. Making Tax Digital is not going away, yet we are finding many businesses are not facing up to the significance of it.

Yes, from April 2019 it will only affect the way in which VAT is reported to HMRC and will only apply to those businesses VAT registered and with a turnover above £85,000. But, that is still quite a lot of businesses, and many businesses we have come across do not have the correct systems in place. The VAT gateway will be switched off, so you must think about transitioning to cloud software. Read our article on page 4 for all the details.

In this edition, we also bring Inheritance Tax Planning advice for those with estates above the nil-rate band of £325,000 (page 7), guidance on the best company car (page 8) and advice on the best tax free benefit schemes for employees (page 14).

We are always looking at ways to improve our newsletters and increase the advice we deliver to you. If you do have any specific questions that need answered or advice you would like to see, please get in touch with us.

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