News

Comments Off on Budget 2018: Business reaction to the ‘something for everyone’ Budget

Budget 2018: Business reaction to the ‘something for everyone’ Budget

Budget 2018: Business reaction to the ‘something for everyone’ Budget

Liverpool city region professionals say there are a number of positives in Philip Hammond’s Budget including a renewed commitment to the Northern Powerhouse. Tony McDonough of Liverpool Business News reports Peter Taaffe, managing partner of BWM   Business leaders, both in the Liverpool city region and across the UK have offered a cautious welcome to Philip … Continued

Comments Off on Government Announces Apprenticeship Levy Reforms

Government Announces Apprenticeship Levy Reforms

Government Announces Apprenticeship Levy Reforms

Chancellor Philip Hammond has announced a package of new measures to reform the under-fire apprenticeship levy. Under the revised rules, employers who pay the apprenticeship levy will be able to transfer a quarter of their funds to organisations in their supply chain, including smaller employers. Levy-paying businesses have been able to transfer up to 10% … Continued

Comments Off on Capital Gains Tax Payment Window on Residential Property

Capital Gains Tax Payment Window on Residential Property

Capital Gains Tax Payment Window on Residential Property

There is a forthcoming legislation change which affects the taxation of capital gains on property; notably a change to the reporting and payment on account obligations for UK resident individuals with residential property gains. The changes will take effect for disposals on or after 6 April 2020, in line with announcements made at Budget 2017. … Continued

Comments Off on Annual Investment Allowance to Rise to £1m

Annual Investment Allowance to Rise to £1m

Annual Investment Allowance to Rise to £1m

The annual investment allowance is set to temporarily increase from £200,000 to £1 million, allowing businesses to gain more tax relief on their investments. This will take effect from 1 January 2019 and remain in place until 31 December 2020, after which it is due to revert back to £200,000. Using the annual investment allowance, … Continued

Comments Off on Higher-Rate Earners Hit by National Insurance Rise

Higher-Rate Earners Hit by National Insurance Rise

Higher-Rate Earners Hit by National Insurance Rise

Individuals set to benefit from an increase to the higher-rate threshold in 2019 will only see half of the tax reduction expected, as a result of a Budget measure not mentioned in the Chancellor’s speech. In Budget 2018, the Chancellor announced that the higher-rate income tax threshold would increase from £46,350 to £50,000 in 2019/20. … Continued

Comments Off on Free NatWest Business Accelerator Programme Lands in Liverpool

Free NatWest Business Accelerator Programme Lands in Liverpool

Free NatWest Business Accelerator Programme Lands in Liverpool

The NatWest Entrepreneur Accelerator gives businesses the power to start, scale and succeed via 12 hubs and other satellite locations across the UK. More than 5,000 have already passed through the fully-funded programmes and as of 2017 more than 80% were still trading. Liverpool is to become the first satellite location to host a bespoke … Continued

Comments Off on Update Bulletin 2, Charities SORP (FRS 102) Published

Update Bulletin 2, Charities SORP (FRS 102) Published

Update Bulletin 2, Charities SORP (FRS 102) Published

Bulletin 2 for the Charities SORP (FRS 102) has been published on 5 October It can be found on the Charities SORP microsite here. The bulletin is a summary of the changes to the Charities SORP following the triennial review of FRS 102. These changes apply to all reporting periods beginning on or after 1 January … Continued

Comments Off on HMRC Announce Six-Month MTD Deferral for Complex Businesses

HMRC Announce Six-Month MTD Deferral for Complex Businesses

HMRC Announce Six-Month MTD Deferral for Complex Businesses

The government’s Making Tax Digital (MTD) programme means that 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 of MTD, any transfer of data between software programs must be carried out … Continued

Comments Off on Apprenticeships Fall 31% in the Last Academic Year

Apprenticeships Fall 31% in the Last Academic Year

Apprenticeships Fall 31% in the Last Academic Year

The number of people starting apprenticeships has dropped by 31% in the last 12 months, the Department for Education has claimed. In the academic year between August 2017 and May 2018 there were 315,900 apprenticeship starts, compared to 457,200 the same time the year before. Business groups including the British Chambers of Commerce (BCC) and … Continued

Comments Off on Chancellor Mulls Abolishing Dividend Allowance

Chancellor Mulls Abolishing Dividend Allowance

Chancellor Mulls Abolishing Dividend Allowance

The Treasury is reportedly considering abolishing the dividend allowance in Autumn Budget 2018. The Daily Telegraph claims Chancellor Philip Hammond has business owners, directors and shareholders in his sights to help fund a Government pledge to increase spending on the NHS. Hammond cut the dividend allowance from £5,000 to £2,000 in Spring Statement 2017, with … Continued