Budget 2017 Guides

A simple guide to the 2017 budget and a more thorough guide for the budget 2017 from McDonagh and Co chartered accountants.

More on Making Tax Digital

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.

New guidance for public sector bodies on IR35

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.

HMRC – failure to notify and penalties

Tax penalties and reasonable excuses. Practitioners are not under a duty to make enquiries to identify irregularities which are unrelated to the work they have been engaged by clients to undertake.

Property Taxes

Legislation will be introduced in the Finance Bill 2016 to reduce the 18% and 28% rates in those provisions to 10% and 20% respectively.

Capital Gains Tax Deduction

Legislation will be introduced in the Finance Bill 2016 to reduce the 18% and 28% rates in those provisions to 10% and 20% respectively.