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Insider Newsletter September 2020

Monday, September 7, 2020

September's newsletter covers Video-witnessed wills become legal in England and Wales, Businesses claim late payments crisis deepens during lockdown, Furloughed workers get redundancy pay protection and Firms ‘unable to prepare’ for end of Brexit transition period.


 

Getting Britain Spending Again - Economic update 2020

Friday, July 10, 2020

It’s safe to say Chancellor Rishi Sunak did not expect to be delivering the first official fiscal statement less than four months after his maiden Budget speech back in March, but here we are. 

COVID-19 Update

Friday, June 5, 2020

We hope you are continuing to keep well. We thought we would give you an update on the current situation and what is available to help you and your business as we start to come out of lockdown….

Biggest spending spree in 28 years

Friday, March 13, 2020

“Getting it done” is the soundbite Chancellor Rishi Sunak clearly wanted us to take away from his debut Budget speech, but “giving it away” might be more accurate.

​Employers to pick up the bill for 6.2% national living wage increase?

Tuesday, February 11, 2020

The hourly national living wage rate for over-25s will increase from £8.21 to £8.72 for 2020/21.

Thousands file tax returns through self-assessment over Christmas

Tuesday, February 4, 2020

Thousands of taxpayers used the Christmas break to file tax returns for 2018/19 through self-assessment. 

Budget set to take place in February once Brexit is resolved

Wednesday, January 15, 2020

The new government intends to announce the 2020/21 tax rates, bands and allowances in a full Budget next month.

Complex taper rules could lead to ‘huge’ tax bills for high earners

Friday, January 10, 2020

High earners could face large tax bills if they fail to declare pension contributions on their 2018/19 tax returns, according to a report

Extension of off-payroll rules into the private sector could face delay

Wednesday, January 8, 2020

The planned extension of the new off-payroll rules to the private sector will be included in a review into how the new government can provide better support to the self-employed.

Quarter of small businesses in the UK expect to go bust by 2024

Saturday, January 4, 2020

A quarter of small business owners in the UK believe their company will fold in the next four years, research has claimed. 
 

Budget 2018

Wednesday, November 7, 2018

Going into Budget 2018, between leaks and political instability, few expected Chancellor Philip Hammond would have surprises left to spring.

From sole trader to a limited company

Monday, April 9, 2018

What to expect from incorporating your business.

Payroll and Pension Update

Wednesday, March 28, 2018

Dear Client, We should like to take this opportunity to highlight certain changes taking effect from 6th April 2018. 

Accounts for limited companies

Monday, December 11, 2017

Audits may be a thing of the past, but certain annual reports still apply. If you’re a business owner, you may be familiar with the process of submitting your accounts for official inspection by an independent body. This is known as an audit. 

Online self-assessment

Thursday, December 7, 2017

How to complete your self-assessment tax return online. For self-employed people, company directors and those receiving other sources of income, it’s the time of the year to send your self-assessment tax return.

Autumn Budget 2017

Thursday, November 23, 2017

Chancellor Philip Hammond said he’d take a “balanced approach” to his second Budget of 2017. Once again the speech was light on headline-grabbing finance changes and there were no ‘giveaways’ or major surprises.

Instead, the chancellor focussed on measures to prepare the economy for post-Brexit life.
Raising productivity is key to boosting economic growth and wages, but growth has “remained stubbornly flat” and continues to be an issue.

Measuring business performance

Friday, November 10, 2017

What are the best ways to assess your firm’s performance? Changing market conditions make it more important than ever to measure your business’ performance on a regular basis.

Patent Box

Sunday, November 5, 2017

Reducing corporation tax due on patent income.

VAT and three-party transactions

Monday, October 9, 2017

VAT can get very complicated when there are three parties involved in a transaction.

This may happen in an agency situation where one party is arranging for the supply of goods or services in return for a commission, but it can also occur in other circumstances which are not so easy to recognise.

Managing automatic re-enrolment

Sunday, October 8, 2017

Over the last five years there has been a seismic shift in attitudes towards retirement saving.Auto-enrolment means workplace pensions are now regarded by many employees as a normal part of working life. 

The family home allowance

Friday, September 1, 2017

Not everyone’s a winner with the recently-introduced residence nil-rate band. Rising property prices have left more families being elevated to millionaire status and dealing with the inheritance tax (IHT) implications that come with it. The Treasury collected £4.6 billion from IHT in 2015/16, compared to £2.69 billion in 2010/11, to reflect a rising year-on-year trend. And that shows no signs of slowing down any time soon.

Buy-to-let property

Thursday, August 10, 2017

A guide for individual landlords on the recent tax changes. Whether you own one or 50 let properties, you need to be aware of the tax changes that have already started to take effect – and which will accelerate over the coming years.

Managing the digital revolution

Tuesday, August 1, 2017

Ensuring the smoothest transition for your business.  Making Tax Digital (MTD) will mean most businesses and taxpayers access their tax affairs online through digital tax accounts in the near future. But what impact will MTD have on your business?

Planning your retirement

Saturday, July 1, 2017

Whatever your age, it’s never too late to start saving to retire. It’s more important than ever to start your retirement planning from an early age, however dull a prospect that may sound to younger generations

Salary or dividend?

Friday, June 30, 2017

What combination of salary and dividend should you take in 2017/18? 

As the owner and director of your own company, you can choose how and when to extract funds from your company. As almost all the funds you take out will create a tax charge in your hands, you may want to leave a proportion of the money in the company until you really need it. 

Spring Budget 2017

Friday, March 10, 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”.

Year End Tax Guide 2016/17

Tuesday, January 24, 2017

The way in which tax charges (or tax relief, as appropriate) are applied depends upon individual circumstances and may be subject to change in the future.

Christmas Opening Hours

Friday, December 23, 2016

Everyone at Sadler Davies would like to wish you a Happy Christmas and a Prosperous and Healthy 2017!

​Small businesses offered alternative route to finance

Tuesday, December 6, 2016

Small businesses that have been rejected for finance by banks may be matched with alternative finance providers under a government scheme.

Pension reforms could cost £5 billion

Saturday, November 5, 2016

The pension reforms introduced by George Osborne could cost £5 billion and push house prices up in the long term, according to the Office for Budget Responsibility (OBR).

Tax-free childcare to launch in 2017

Thursday, October 6, 2016

The government’s tax-free childcare scheme is due to launch in early 2017.
As part of the scheme, parents will be able to set up an online account with HMRC to pay for childcare with a registered provider.

VAT after Brexit

Tuesday, September 27, 2016

What could happen to VAT after the UK has left the European Union?

New system to challenge business rates outlined

Wednesday, August 17, 2016

A system to allow businesses to check and appeal business rates bills has been announced.

Property tax changes

Thursday, June 2, 2016

A 3% SDLT surcharge was introduced for purchases of additional residential properties from 1 April 2016. Similar changes were made to land and buildings transaction tax in Scotland.

How to trace lost pension pots

Wednesday, June 1, 2016

In a bid to help people locate their lost pension pots, the Pension Tracing Service has launched a new website.

Digital divide growing between businesses

Tuesday, May 17, 2016

A growing divide is opening up between businesses that use digital technology and those that do not, according to research by the Confederation of British Industry (CBI).

Lack of management skills limit business growth

Wednesday, April 20, 2016

A lack of leadership and management skills may be inhibiting the growth of businesses.

A summary of announcements from the Budget 2016

Thursday, March 17, 2016

Pitched as a “Budget that puts the next generation first”, George Osborne’s speech contained a number of announcements aimed at helping people save for the future.

Digital tax accounts to replace annual tax return

Wednesday, February 24, 2016

HMRC has launched a digital accounts system for businesses and individual taxpayers. 

Higher stamp duty rates for buy-to-let property

Thursday, December 17, 2015

Stamp duty land tax (SDLT) on additional properties such as buy-to-let investments and second homes will be 3 percentage points higher than current SDLT from April 2016.

Autumn Statement 2015

Thursday, November 26, 2015

George Osborne’s third economic statement of 2015 (and the fourth within 365 days) lacked the big surprises and headline grabbing announcements we’ve recently come to expect from these occasions. 

Private sector businesses hit record number

Wednesday, November 25, 2015

The number of private sector businesses has reached a new record of 5.4 million, the Department for Business, Innovation and Skills has announced. 

Pension ‘top up’ introduced

Thursday, October 8, 2015

From 12 October 2015, eligible individuals will be able to begin topping up their state pension by up to £25 per week.

Digital tax accounts timeline overview

Wednesday, September 2, 2015

HMRC has revealed how it plans to introduce digital tax accounts over the course of the 2015/16 tax year.

Entrepreneurs' relief changes affect family businesses

Friday, August 7, 2015

Family businesses are being unfairly penalised by changes to entrepreneurs' relief (ER), according to the Institute of Chartered Accountants in England and Wales (ICAEW) Tax Faculty.

5 ways to make your business more productive

Thursday, August 6, 2015

While it's essential that government takes measures to improve the productivity of the economy as a whole, there are several ways business owners can improve the efficiency of their company

Government publishes productivity strategy

Wednesday, August 5, 2015

A plan to improve the productivity of UK businesses has been published by the Treasury.

Financial assets drive rise in household wealth

Wednesday, July 22, 2015

Financial assets such as pensions and shares are driving a rise in household wealth, research by Lloyds Bank has suggested.

Financial assets drive rise in household wealth

Wednesday, July 22, 2015

Financial assets such as pensions and shares are driving a rise in household wealth, research by Lloyds Bank has suggested.

Financial assets drive rise in household wealth

Wednesday, July 22, 2015

Financial assets such as pensions and shares are driving a rise in household wealth, research by Lloyds Bank has suggested.

Deregulation tops small firms’ priority list

Friday, July 10, 2015

More than half of small business owners want the new Conservative government to prioritise reducing regulation, a survey by the Federation of Small Businesses (FSB) has revealed.

Auto-enrolment exemptions introduced

Wednesday, May 27, 2015

Employers will no longer need to auto-enrol employees in certain circumstances after regulatory changes were introduced in April 2015.

Businesses delay capital investment

Tuesday, May 12, 2015

Almost two thirds of UK businesses generated a cash surplus in the last tax year, according to research by the Institute of Chartered Accountants in England and Wales (ICAEW).

SMEs in profit at 2007 levels

Wednesday, April 22, 2015

Small businesses in the UK continue to be less productive compared to other countries, according to a report by the All Parliamentary Small Business Group.

The dawn of alternative finance

Monday, March 23, 2015

However, businesses are increasingly looking towards alternative sources of finance. 

Number of small firms hits record high

Wednesday, March 18, 2015

There are a record 5.2 million small irms in the UK, according to a government report.

Compliance costs SMEs

Wednesday, March 4, 2015

SMEs pay almost £10 billion in tax compliance costs each year, according to research by the Association of Accounting Technicians (AAT).

Businesses lack mental health policies

Thursday, February 26, 2015

Three quarters of employers don’t have a workplace mental health policy, research by the Institute of Directors (IoD) and YouGov has found.

Government proposals to tackle late payment

Wednesday, January 21, 2015

Large companies could be forced to publish information about their payment practices, under government proposals designed to combat late payment.

Small Businesses plan growth for 2015

Tuesday, January 13, 2015

Small businesses are planning growth in 2015 but many are unaware of the inance options available to them, research by the British Business Bank has revealed.

Savers unaware of pension guidance service

Friday, January 2, 2015

More than half of over-40s do not know whether they will be eligible for the government’s free pension guidance service, research by Partnership has found.

Employees take advantage of flexible working

Friday, January 2, 2015

There is a high demand among employees for flexible working arrangements, research by the Centre for Economic and Business Research and Citrix has found.