Tax E-News

1. News

No major tax changes in chancellor's Spring Statement

As announced last year, the Chancellor’s Budget will in future take place in the Autumn each year as opposed to the Spring.

Cash and digital payments in the new economy

One of the announcements in the Spring Statement was the possible demise of the 1p and 2p coins and the £50 note, but for different reasons. It seems that more and more of us are paying for small transactions such as our morning coffee by using contactless payments.

Charities gift aid small donations scheme

Whilst on the subject of the reduction in cash transactions, we take the opportunity remind you of the Gift Aid Small Donations Scheme (GASDC).

Scottish income tax rates due to rise from 6 April 2018

The Scotland Act 2016 provides the Scottish Parliament with the power to set all income tax rates and bands that will apply to Scottish taxpayers’ non-savings, non-dividend (NSND) income for tax year 2018/19.

Tax efficient extraction of profit from companies for 2018/19

The new tax year means that many directors of family companies will be considering the most tax efficient method of paying themselves.

Diary of main tax events

April/May 2018