The News And Tips page will be regularly updated with information we consider may be of interest to those running a small business or considering a business start-up in the future.
September 2018 HMRC UPDATE ON MAKING TAX DIGITAL
HMRC states it is working with more than 150 software suppliers who have said they will provide software for Making Tax Digital for VAT in time for April 2019.
Pandle Software is ready for MTD within the next few months and will definitely be up and running well before the April 2019 deadline.
July 2018 WORDPRESS GUTENBERG EDITOR
Replacement of the current WordPress editor to the new Gutenberg WordPress editor is expected very shortly with the release 5.0
A member of Wealthy Affiliate has produced a range of videos showing all the new developments. Once again membership of Wealthy Affiliate has kept us ahead of the curve.
April 2018 PERSONAL TAX – THE MARRIAGE ALLOWANCE
Introduced on 6th April 2015, over one million couples are still missing out on a tax reduction which could now be worth £900 (back-dated to 2015). If one partner in a marriage or civil partnership is a non tax payer, they can transfer a portion of their free pay allowance to their tax paying partner. See Pay Less Tax UK.
April 2018 THE GENERAL DATA PROTECTION REGULATION (GDPR)
Businesses are required to be GDPR compliant by the implementation date of 25th May 2018. The GDPR applies to all EU organisations – businesses, charities or public authorities – where the collection, storage or processing of personal data is involved. Non EU countries collecting data of EU citizens are also included under the requirements of this directive.
April 2018 MAKING TAX DIGITAL
From April 2019 VAT registered businesses with a turnover above £85,000 will be required to keep digital records and submit their returns through MTD compatible software. The revenue expect more businesses to commence making returns digitally from April 2019 on a voluntary basis. The plans to extend to other taxes have been delayed to 2020 at the earliest.