The Autumn Statement - A New Chancellor but Nothing Different
Published On: 24/11/2016
The 2016 Autumn Statement marked the first statement delivered by Chancellor Philip Hammond but, despite this, served mainly to confirm old news that changes already announced would take place, rather than introduce anything significant.
A New President – What Does It Mean For US Tax Rates?
Published On: 09/11/2016
So the US now has a new President-elect with the plan to, “Make America Great Again”. Part of this will include his tax reform plan and with the Republicans retaining control of both Congress and the Senate these plans could well be implemented with minimal change. Briefly the tax reform plan sets out the following:
The idea of Making Tax Digital was first mooted in the 2015 Autumn Statement with the announcement that the Government wanted to replace the annual tax return with some form of quarterly accounting for the self-employed, landlords and partnerships. Limited company obligations will also follow. As more and more people become aware of this "quarterly reporting", concern is growing as to how this will impact on the self-employed.