Liverpool & Sefton Chamber of Commerce is urging businesses across the city region to “get ready” to an imminent change to the UK’s apprenticeship system. The issue was brought into sharp focus on Friday morning when Liverpool accountancy and business advisory firm BWMacfarlane held a breakfast briefing for local business – and it was clear … Continued
The Budget, Tax and the Self-Employed
The Budget, Tax and the Self-Employed In his first Budget on 8th March the new Chancellor Phillip Hammond announced that he would level the playing field between employees and the self-employed by increasing Class 4 National Insurance Contributions (NICs) from 9% to 10% from 6 April 2018 and then to 11% from 6 April 2019. … Continued
Spring Budget Report 2017
Chancellor Philip Hammond described his first and last Spring Budget as one that “takes forward our plan to prepare Britain for a brighter future”. The following report summarises the announcements made by Chancellor Philip Hammond during the Budget 2017 on 8 March 2017. For a copy of our full Spring Budget 2017 report please see our … Continued
BWMacfarlane recruit experienced trust manager to offer full suite of services to clients
Leading independent Liverpool accountancy firm BWMacfarlane has recruited one of the region’s leading experts on family trusts and estates to its team. Anthony Whittaker joins the growing Castle Street practice from Grant Thornton. As BWMacfarlane’s new trust and estate manager, Anthony will be proactively promoting trust services to business owners and high net worth individuals, both within the firm’s … Continued
Increase to probate fees
The government is to go ahead with plans to move from the current flat fee for applications for a grant of probate to a banded structure where fees increase in line with the value of the estate, up to a maximum of £20,000, Currently, a £215 flat fee applies if probate is applied for by … Continued
Apprenticeship levy approaches
Apprenticeship levy approaches Businesses are preparing for the apprenticeship levy which is due to launch on 6 April 2017. Employers with an annual turnover of over £3 million will have to pay a 0.5% levy of their wage bill into apprentices and training for their business. An annual levy allowance of £15,000 will also be … Continued
Late payment regulations support SMEs
Late payment regulations support SMEs Large companies and limited liability partnerships (LLPs) will have to publish their payment practices and performance twice a year from April 2017. This new reporting requirement will include the average time taken to pay supplier invoices. The government hopes this will help to reduce late payments. It is estimated that … Continued
Pensioners staying in work drives up retirement income
Pensioners staying in work drives up retirement income The rise in the proportion of pensioners in employment accounts for a quarter of pensioner income growth, according to the Resolution Foundation. Since 2001 average pensioner income has grown so that now a typical pensioner household is £20 a week better off than a typical working household. … Continued
Firms prepare for Making Tax Digital
Firms prepare for Making Tax Digital Businesses will be given at least 12 months to prepare for the transition to digital tax accounts. Businesses, self-employed people and landlords will need to submit quarterly updates to HMRC and keep their records digitally by 2020, but this will be phased in. The current plan is to start … Continued
Landlords – Fee Protection Service
Fee Protection Service HMRC finds landlords an easy target to investigate because of the depth and variety of information it receives and gathers. When selecting a landlord for enquiry, HMRC can check: The Land Registry records to find out when a let property was bought and how much for. Voters List entries to confirm whether … Continued