Budget Summary

Budget Summary 2019

We have tried to identify and highlight the key factors from the Autumn/Spring Statement, please feel free to call Chris on 01522 543500 if you have any further queries MAKING TAX DIGITAL This will become mandatory for income tax; however, it is currently deferred until at least April 2020. From 1st April 2019 all VAT registered businesses with turnover above the VAT threshold (currently £85k) will be required to file all VAT returns online and must be backed up by…

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Budget Summary 2018

We have tried to identify and highlight the key factors from the Budget, please feel to call Chris on 01522 543500 if you have any further queries.   PERSONAL TAX ALLOWANCE From 2018-19 the allowance is set at £11,850 (previously 17/18 £11,500).   TRANSFERABLE ALLOWANCES The maximum amount of free personal allowance that can be transferred between spouses is increased to £1,190 in 2018-19. Couples can only make a claim if one partner has spare personal tax allowance and the…

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