Chancellor Philip Hammond has opted to scrap the planned abolition of class 2 national insurance contributions (NICs). The Government was originally due to abolish class 2 NICs for the self-employed from 6 April 2018, but the move was delayed for 12 months in November 2017 and has now been abandoned. The policy, which was first … Continued
A think tank is calling for inheritance tax to be abolished, as part of a set of proposals for major reform to the UK tax system. The Institute for Public Policy Research (IPPR) published its 10-part plan for economic reform, which includes replacing the system of inheritance tax with a new ‘lifetime gifts tax’. Under … Continued
The Requirement to Correct (‘RTC’) is a statutory obligation for taxpayers with overseas assets to correct any issues with their historic UK tax position. HMRC have written to all taxpayers who have or who had any offshore financial connections (including those who consider themselves to be non-UK domiciled and/or non-UK resident) to instruct that they … Continued
BWM Chartered Accountants are hosting a Free Charity Autumn Update Seminar on Tuesday 2 October from 9am. Full details are provided here With so much going on in the charity sector we have invited an excellent line-up of speakers (including the Charity Commission & the CEO of the Charity Finance Group) to provide the latest … Continued
Liverpool City Council will be hosting consultation events across the city to discuss potential changes to the Community Resource Grant. If you would like to attend one of the following consultation events please register by emailing corporate.grants@liverpool.gov.uk by 4 pm on Wednesday 10th October. Salvation Army, Cavendish Drive, Walton, L9 1NB Mon 15th Oct 10 … Continued
Philip Hammond’s decision to abolish stamp duty land tax (SDLT) for most first-time buyers on all properties worth up to £300,000 saved homeowners £284 million in the first half of 2018. The chancellor scrapped SDLT in Autumn Budget 2017 for most people taking their first steps on the property ladder in England, Northern Ireland and … Continued
The Treasury fetched a record high of £5.2 billion in inheritance tax receipts last year, according to statistics published by HMRC. Inheritance tax receipts increased 8% year-on-year in 2017/18 to continue a long-term trend, which began when the nil-rate band was frozen at £325,000 with effect from 6 April 2009. Since then, inheritance tax receipts … Continued
VAT creates the biggest administration burden for around two-thirds of businesses in the UK, research from the British Chambers of Commerce (BCC) has claimed. The report, which polled more than 1,100 businesses of all sizes, found that 64% were bamboozled by an array of rates and rules to comply with VAT legislation. This percentage is … Continued
HMRC has confirmed that digital reporting requirements will be relaxed during the first year of Making Tax Digital (MTD) for VAT-registered businesses. From April 2019, businesses with annual taxable turnover of more than £85,000 will be required to maintain digital records for VAT and submit quarterly returns alongside the annual tax return. Under the requirements … Continued
Charities can now see all of the questions that will appear in this year’s charity annual return, ahead of the online service becoming available at the end of the month. The online 2018 charity annual return service will become available at the end of August, with the Charity Commission this year introducing a tailored return … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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