March 2017

HMRC have confirmed that legislation will be introduced so that any retrospective variation to a partnership’s profit sharing arrangements made after the period end will not apply to returns for accounting periods starting on or after 5 April 2018.
20 March, 2017
In the Budget on 8 March, the Chancellor provided a lengthy explanation comparing the position of the self employed and employees, noting the more favourable tax treatment of the self employed and changes that make the benefits system more comparable with employees (with the introduction of the new state pension), but omitting to mention the real risks for genuine entrepreneurs.
05 March, 2017
For many farmers and landlords, the changes announced in Philip Hammond’s Spring Budget will not take effect until April 2018, which gives time to consider the detail and is to be appreciated.  However, the changes already announced to tax relief on interest where some of the borrowing relates to let residential properties will have an impact from this April, so landlords should consider this if they have not already done so when arranging borrowing.
01 March, 2017