A simple guide to the 2017 budget and a more thorough guide for the budget 2017 from McDonagh and Co chartered accountants.
The Budget gave one small concession on Making Tax Digital (MTD) for those below the VAT threshold for quarterly accounting, but we now await further detail.
This measure will restrict relief for finance costs on residential properties to the basic rate of income tax and will be introduced over four years from 6 April 2017.
With 6 April fast approaching, many property landlords, especially those planning to expand their portfolios, will be wondering whether it is better to incorporate.
As detailed in our article in September 2016 In Practice magazine, the government has announced fundamental changes to the IR35/personal service company (PSC) rules affecting public sector bodies.