Local Professional Support - September 2018

Four in ten small businesses reluctant or resistant to Making Tax Digital
A new HMRC survey has found that four in ten small businesses are less than enthusiastic about the imminent introduction of Making Tax Digital for Business. While HMRC has made some concessions to allow for a soft landing, businesses need to take action now to prepare.

Why the Airbnb tax isn’t bad news for everyone
Airbnb has generated millions of pounds of additional income for UK taxpayers so it’s understandable that HM Revenue & Customs (HMRC) wants its share. But whilst the rules have been tightened up, it isn’t bad news for everyone. Tax breaks are still available for infrequent hosts – and the most active.

Holiday home owners – don't relax too much this summer
HMRC have warned that UK taxpayers need to come forward and declare foreign income or profits on offshore assets by 30 September may come as a shock to those relaxing at their holiday home this summer. Urgent action may be required.

Timing could be key for entrepreneurs seeking tax relief
Proposed changes to Entrepreneurs Relief could make it easier for entrepreneurs to claim tax relief on gains but the timing of transactions will be key.

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