W R News

Wales Income Tax

Wales Income Tax

Wales will devolve its income tax rates from April 2019.

From 6 April 2019, some of the Income Tax paid by people living in Wales will directly fund Welsh public services

Employee expenses – a word of caution!!

Employee expenses – a word of caution

During the Christmas season the prospect of a nice tax refund from HMRC can appear a very attractive prospect.  There are plenty of companies out there who will tell you that they can get you a refund and all you have to do is pay them a percentage of that refund for doing so.

Capital allowances changes

Capital allowances changes

A number of changes to capital allowances were announced at the Budget, including an increase in the Annual Investment Allowance (AIA), for two years to £1 million, in relation to qualifying expenditure incurred from 1 January 2019. The AIA is currently £200,000 per annum. Complex calculations may apply to accounting periods which straddle 1 January 2019.

Personal tax changes - allowance and basic rate band increases

Personal tax changes - allowance and basic rate band increases

At the Budget, the Chancellor announced that increases to the personal allowance and basic rate band for 2019/20.

HMRC identify record £15.6 million minimum wage underpayments

HMRC has announced that they achieved record enforcement results this year, identifying £15.6million of minimum wage underpayments.

Genuine HMRC contact and recognising phishing emails and texts

HMRC has updated their guidance on how to recognise when contact from HMRC is genuine and how to recognise phishing or bogus emails and text messages...

Budget 2018

Budget 2018

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that 'austerity is coming to an end - but discipline will remain'.

Deliberate tax defaulters

HMRC has published an updated list of deliberate tax defaulters. The list includes details of taxpayers who have incurred a penalty because they have either:

Trustee diversity

Good leadership is the key to all successful organisations! A good board of trustees can make all the difference to the charity’s future, creating a shared vision and purpose. It is important to take the role of trustees seriously, ensuring that the board is fit for purpose.

'No deal' Brexit guidance and small business survey

Following the issue of some 'no deal' Brexit technical notices, in August, the government has issued further notices with the aim of helping both businesses and individuals to prepare in the event of a UK-EU agreement not being realised.

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