WatsOn Summer 2024 Newsletter
Monday 22nd Jul 2024Basis Period Reform: Additional Profits From 6 April 2024 all unincorporated businesses (sole traders and partners in a partnership) are required to report profits or losses in line with the tax year. Mandatory Payrolling of Benefits The reporting and paying of income tax and Class 1A national in...Read More...New Coronavirus Guidance for Business and Self Employed
Thursday 4th Jun 2020The coronavirus crisis in the UK has caused a great deal of uncertainty, which makes business decisions more difficult to make. To help guide you through this pandemic, we aim to build business resilience during the COVID-19 crisis by providing free guidance and advice via our new coronavirus ...Read More...WatsON Autumn 2019 Newsletter
Wednesday 23rd Oct 2019HMRC Applies Brakes to Domestic Reverse Charge HMRC announced a one year delay to the introduction of the VAT Domestic Reverse Charge (DRC) for building and construction services. Keeping Pace with Property Tax Changes Disposing of a property? There are important CGT changes on the horizon Off P...Read More...Changes to Capital Gains Tax Private Residence & Letting Relief
Thursday 10th Oct 2019Disposing of property? There are important tax changes on the horizon. The date to keep in mind is 6 April 2020. Disposing of a property on or after this date means you will need to factor in new Capital Gains Tax (CGT) Rules. For many, owning and selling their own home is thought to be tax free b...Read More...IR35 for the Private Sector
Thursday 10th Oct 2019From 6 April 2020 new tax rules are proposed for individuals who provide their personal services via an ‘intermediary’ to a medium or large business. Download the full business update to see how these new tax rules for individuals working via their own companies for a medium or lar...Read More...VAT: Reverse Charge For Builders
Thursday 1st Aug 2019VAT New Accounting Procedures for Builders – 1 October 2019. You might have read that new procedures are being introduced on 1 October which affect any VAT registered construction business. PLEASE NOTE: HMRC have delayed the introduction of these new accounting procedures until 1 October 2020...Read More...WatsON Spring 2019 Newsletter
Thursday 25th Apr 2019Off-Payroll Working in the Private Sector. HMRC has published a second consultation looking at the reform of the off-payroll working rules in the private sector from April 2020. View the full newsletter here...Read More...WatsON Winter 2018 Newsletter
Monday 10th Dec 2018Making Tax Digital (MTD). What, when and how. If your business is VAT registered and the turnover for the last year has exceeded £85,000, you should soon receive a letter from HMRC regarding MTD compliance. For this and more read our newsletter....Read More...
Reebok Ragnar Relay
Thursday 27th Sep 2018When we signed up to the Reebok Ragnar Relay some 6 months ago in support of our Charity of the Year, Chestnut Tree House Children’s Hospice, the team could not have imagined how much fun it would actually be and the effect it would have on all concerned. From day one Team Watsons pulled toget...Read More...WatsON Summer 2018
Friday 20th Jul 2018PREPARE TO DIGITISE VAT. This is the most fundamental change to the administration of the tax system in the past 20 years. Read more in our newsletter...Read More...Partnership Tax Changes
Wednesday 6th Jun 2018LLPs and Partnerships under attack from HMRC anti avoidance rules. Changes to Partnership Taxation in 2014 have had a significant impact on both LLPs (Limited Liability Partnerships) and Partnerships and how profits are taxed. This has led to a decrease in the popularity in the use of LLPs with co...Read More...WatsON Spring 2018
Friday 9th Mar 201860 YEARS IN BUSINESS AND WHAT A CELEBRATION. In June 2017 we celebrated 60 years in business and at the same time rolled out our new corporate rebrand. Read more in our newsletter....Read More...Helping hand for first time buyers
Wednesday 22nd Nov 2017From 22 November 2017, first-buyers paying £300,000 or less for a residential property will pay no Stamp Duty Land Tax (SDLT). First-time buyers paying between £300,000 and £500,000 will pay SDLT at 5% on the amount of the purchase price in excess of £300,000. A first-time ...Read More...Making Tax Digital
Tuesday 11th Apr 2017The Headlines Under Making Tax Digital (MTD) businesses, the self employed and landlords will be required to: keep digital accounting records; and use accounting software to make quarterly reports of income and expenses to HMRC. These requirements are set to be phased in beginning from...Read More...WatsON Winter 2016
Friday 16th Dec 2016END OF THE TAX RETURN Preparing for digital business records HMRC believe that a lot of small businesses do not pay the right amount of tax on their profits due to a delay in writing up their accounting records to the end of the year. To resolve this problem, HMRC announced its intention to requi...Read More...WatsON Autumn 2016
Wednesday 26th Oct 2016DIVIDENDS: REDUCE THE TAX YOU PAY Every UK resident individual can receive up to £5,000 of dividends tax free each year, whatever their marginal rate of tax. As a company owner you could arrange for your family members to receive dividends from your company to take advantage of this. Spr...Read More...WatsON Summer 2016
Wednesday 10th Aug 2016BREXIT How could the vote affect you and your business? Following the UK’s historic decision to leave the European Union, many of our clients are naturally wondering how the Brexit vote will affect their business and their personal finances. Despite a current climate...Read More...Budget 2016 – Corporation Tax Rates to Fall
Thursday 17th Mar 2016The budget yesterday saw confirmation that the Government will not only press ahead with its planned reduction to corporate tax rates over the life of the parliament but to go slightly farther and reduce them to 17% by the end of the parliament in 2020. Whilst the tax rate reductions are heavily lo...Read More...WatsON Winter 2015
Thursday 7th Jan 2016DO NEW STAMP DUTY TAXES MEAN BYE-BYE BUY TO LET Surprise Autumn Statement announcement is set to wipe out landlord profits Landlords are in shock after a second huge tax assault on buy to let by the Chancellor which will force investors to pay thousands more in Stamp Duty on new properties &n...Read More...WatsON Autumn 2015
Monday 2nd Nov 2015Lots of content in our Autumn 2015 Newsletter including: Minimum Wage Vs Living Wage - Benefits cut for low paid workers but compulsory living wage introduced. Financing Start Ups with SEIS - Can SEIS help with your new start up business? Is it time to switch to Cloud Accoun...Read More...
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