Vale & West Chartered Accountants Blog

New car tax rules to be introduced this week

Vale & WestMar 29,2017
Tax

New car tax rules to be introduced this weekend could see bills rise by thousands of pounds. Cars bought after Saturday 1 April 2017 will pay a one-off tax charge for the first year. The amount varies depending on the CO2 emissions of the vehicle, ranging between £0 for electric cars, and £2,000 for high

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Self-employed face multiple tax returns

Vale & WestMar 29,2017
Kathryn Cutts

There are concerns that plans to force millions of self-employed people to file multiple tax returns each year will be a detrimental step and is purely a cost-cutting exercise for HM Revenue & Customs (HMRC).

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‘True costs’ of Making Tax Digital still unclear, says Treasury Committee

Vale & WestMar 28,2017
Tax

The Treasury Committee has again called on HM Revenue & Customs (HMRC) to provide greater clarity on the true costs of Making Tax Digital (MTD) for small and medium-sized enterprises (SMEs).

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Personal tax changes from April

Vale & WestMar 27,2017
Richard Ziemba

The new tax year will bring a number of changes for savers and investors, including changes to paying gross interest on corporate bond funds to an increase in the Personal Savings Allowance (PSA).

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12 per cent rise in winding-up applications to recover unpaid tax

Vale & WestMar 27,2017
Tax

A new study suggests that the number of winding-up applications issued by HM Revenue & Customs (HMRC) to small and medium-sized enterprises (SMEs) is on the rise. According to business financier Funding Options, 3,906 such applications were issued to SMEs in 2016 in a bid to recover unpaid tax, up from 3,405 one year previous

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New technology to see cheques clear within one working day

Vale & WestMar 24,2017
Economy

From October this year, businesses that pay cheques into their accounts will be able to get the money cleared within one working day.

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Tax-free childcare coming this April

Vale & WestMar 23,2017
Tax

From 28 April this year, parents with young children will be able to claim tax-free childcare against their yearly income.

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Rise in corporation tax take

Vale & WestMar 22,2017
Kathryn Cutts

According to figures from the Office for National Statistics (ONS), the Government narrowed the budget deficit in February, boosted by the highest tax receipts on record for the month.

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Inflation rises past BoE’s two per cent target

Vale & WestMar 22,2017
Interest Rates

The UK’s inflation rate jumped from 1.8 per cent in January to 2.3 per cent in February, the Office for National Statistics (ONS) has revealed.

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Boots to stop charging VAT at airports

Vale & WestMar 22,2017
Lee Gardner

Boots has finally begun to refund customers who were charged VAT when they bought goods in the store’s airport outlets following a revelation back in 2015, when airline passengers found they had been overcharged.

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