If you recently bought or are buying a new car, you will have discovered that new rates of Vehicle Excise Duty (VED) apply for purchases of cars first registered on or after 1 April 2017. If not, you may be surprised by how significantly car tax rates have changed.
Archives for 2017
The Marriage Allowance was introduced over two years ago, yet most people who are eligible have not claimed the allowance. Could you be due a tax repayment of up to £432?
The government has introduced a new term: Making Tax Digital for Business, along with yet another acronym. MTDfB has different start dates for different types of business with unincorporated businesses being the first to see significant changes in how they record and submit their transactions.
Effective teamwork is key to success. As the business leader, it’s up to you to bring together the collective efforts of your people and guide them towards achieving your overall business goals. What are the must-have ingredients of a successful team? And how can you make sure your team has what it takes?
1991 was the year that hundreds of mysterious crop circles appeared in farmers’ fields across the UK, the government introduced TESSA’s and Mr Blobby started (and ended) his pop career. That same year, two friends from Preston decided to start their own printing business in the city. Back then, they could not have predicted how radically their industry would change over the next quarter century – or that RfM Accountants would be joining them on their business journey.
RfM regularly supports a number of local charities through donations and fundraising activities. Staff have played golf, dressed down, collected Christmas trees and even walked on fire for good causes. This time, we’re helping two friends of the firm to get ‘on their bike’ for Lancashire charity Baby Beat.
Earlier this year, RfM supported Miss England 2016/17, Elizabeth Grant, to set off to the Miss World Pageant in style. A luxurious lift to the airport for her flight to Washington was just the first stage of what’s set to be a journey full of opportunities. RfM is helping to ensure Elizabeth makes the most of the experience.
Changes to the VAT Flat Rate Scheme (FRS), announced in the Autumn Statement, came into affect on 1 April 2017. Businesses defined as being a ‘limited cost trader’ will now have to calculate VAT using an increased flat rate percentage. We explain what this will mean for many businesses using the FRS.
Self-employed individuals will receive a state pension through the new ‘flat rate’ scheme. In recent years, there have been several changes to the eligibility criteria, so now may be a good time to check what you’re entitled to.
Entrepreneurs’ Relief (ER) can provide a valuable relief from tax on capital gains. But, as with everything in the world of tax, there are rules that must be followed to make sure you really do qualify for the lower rate of tax.
Anti-avoidance rules have been in place for many years to try to prevent the serial winding up of companies and abuse of the capital gains rules. To strengthen these rules the government has introduced a new Targeted Anti-Avoidance Rule or TAAR.
Autumn 2016 brought some good news for the many small companies who find it difficult to secure business finance from the high street providers. A new government bank referral scheme ensures that the large lenders will signpost borrowers to a range of alternative funding options.
Introduced as a tax relief in 1995, Venture Capital Trusts (VCTs) invest in small companies. The rules and reliefs may have been tweaked, but 22 years on they are fundamentally the same. We look at the benefits of VCTs.
As a self-employed individual, you’d think it would always be in your best financial interests to make less profit so that you pay less tax. But when you need to apply for a mortgage, you’ll want the opposite to be true: larger profits, higher earnings. Whilst we can’t change your accounts to make it look like you’ve made more money, we can help you to get a mortgage decision.