THP Blog

Ahoy – The End of the Tax Year in Nigh!
Posted by Jon Pryse-Jones on February 1, 2017

Now we’ve all (hopefully!) finished with our Tax Returns for this year and have passed the 31 January date for submission, it’s time to prepare for the next important deadline of 5th April. With just two months left before the end of the current tax year, those who have income from business or property sources

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Tax Planning 2017
All Change! How will Changes to the Tax System Affect you in 2017?
Posted by THP on January 17, 2017

Planning your Tax with the New Changes of 2017 Have you ever thought how cunning the Chancellor’s annual Budget really is? It’s a clever way of announcing lots of unpopular changes in one go, safe in the knowledge that most of them will bite at a later stage – when people’s minds have wandered off

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Tax Changes 2017
Changes to the “VAT Flat Rate Scheme” imminent – will you be out of pocket?
Posted by Jon Pryse-Jones on December 5, 2016

In last month’s Autumn Statement, Chancellor Philip Hammond announced changes to the VAT Flat Rate Scheme that will lead to a squeeze on finances for many small businesses. How the current Flat Rate Scheme works depends on the sector your business is in. As things stand, if you use this scheme you can’t reclaim VAT

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Value Added Tax
What do the latest buy-to-let changes mean for landlords?
Posted by Jon Pryse-Jones on November 21, 2016

When it comes to investments, property is arguably one of the most popular choices for people considering profitable options for their money, compared to low savings rates and the unpredictability of the stock market. With relatively low mortgage rates and the opportunity to use the money earned to fund retirement incomes, becoming a landlord is

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buy-to-let-landlords
Buy-to-let landlords – are you facing a major tax hike?
Posted by Jon Pryse-Jones on September 19, 2016

If there’s one group of people who kept a keen eye on former Chancellor George Osborne’s budgets, it’s landlords. Osborne had the hunch that property landlords were adding too much inflationary pressure to the UK housing market. So he put buy-to-let landlords in his sights and got to work reducing the income tax relief available

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Re-let your property
Government backs down on small business red tape: but will it really help you?
Posted by Jon Pryse-Jones on August 23, 2016

If there’s one thing that’s the bane of a small-business owner’s life, it’s keeping on top of all the red tape demanded by the government. Whether it’s running a compliant payroll, getting your VAT returns in on time or submitting your accounts, it seems like the taxman wants more paperwork out of you than you’d

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Making Tax digital
Joint bank account with a child or parent? You might want to close it.
Posted by Jon Pryse-Jones on May 16, 2016

In recent years, more and more older people have decided to open a joint bank account with one of their adult children. It’s easy to see the thinking behind it. If you’re getting older or you’re not in the good health you once were, a joint account appears to be a simple way of letting

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Concerns with joint accounts
Get taxed early and it could pay you dividends!
Posted by Jon Pryse-Jones on February 12, 2016

Act now and you could save money before new tax rules bite There’s nothing more calculated to spoil your morning than a large bill from HMRC nestling amongst your morning post. Most of us simply sigh and pay up, even if at the last possible moment. Others decide to let off steam by sending the

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Helping your dividends
HMRC taskforces collect £109m in unpaid tax
Posted by THP on January 13, 2016

Are you covered by Tax Investigation Fee Protection? Newly released statistics reveal that specialist HMRC taskforces have collected £109m in extra tax over the last six months alone. Such impressive results mean that the Revenue is likely to continue to invest money in these units, and increase the number of investigations launched. Taskforces were set

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Calculating Taxes Up And Down
Service Of The Quarter – Tax Planning
Posted by THP on January 7, 2016

When Chancellor George Osborne delivered his Summer Budget in early July, alarm bells started ringing at THP. Very quickly we realised that nearly all of our clients would urgently need to review their income and tax planning. Until now, any competent accountant would have told you that if your business gives you an income of

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tax planning with THP
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