Archive for November, 2016

Restrictions for the use of VAT Flat Rate Scheme

November 28, 2016

The flat rate scheme is used by many small to medium sized businesses to simplify their VAT reporting. Many of those businesses enjoys a cash advantage from using this scheme. However, this advantage is due to be cut back significantly from 1 April 2017. The FRS will continue but many businesses will not find it […]

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Summary of Autumn Statement 2016

November 24, 2016

Below is a summary of the key points that was outlined during the autumn statement yesterday by the Chancellor. Taxation Income tax threshold to be raised to £11,500 in April, from £11,000. Higher rate income tax threshold to rise to £50,000 by the end of the Parliament Tax savings on salary sacrifice and benefits in […]

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