News

Making Tax Digital (MTD) Delayed

HM Treasury have announced that their Making Tax Digital (MTD) plans have been delayed. Please find the HM Treasury announcement at https://www.gov.uk/government/news/next-steps-on-the-finance-bill-and-making-tax-digital. Whilst this news is a reprieve for those who were due to come into MTD from April 2018

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Personal Tax Account and Mortgages

With news from Halifax and Nationwide that house prices are starting to drop inevitably some are seeing this as the perfect opportunity to buy. With that in mind we thought now would be a timely reminder of a service that

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Updated Employee Expenses

Employee expenses If you have been employed for part of a tax year, or are continuing your employment alongside your sole trade business, it is important to check whether all of your employment-related business expenses have been reimbursed by your

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DBS Summer Newsletter

Welcome to our 2017 Summer Newsletter. This quarter includes: Changes due to the General Election Tax reporting going digital Tax-free childcare PAYE penalties Paper tax return Simple assessment Reclaiming the SDLT  supplement Inheritance tax residential nil rate band PAYE codes are changing To

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Another fake HMRC email hitting your inbox….

We have received a report from HMRC advising customers to strongly lookout for a new phishing scam. If you get an email with the subject, “Your 2016 Tax Report”, with an attachment, DO NOT open it. Please forward it to

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DBS 2017 Budget Update

Welcome to our 2017 Budget Update based on the Chancellor’s Budget Statement. This update includes: National Insurance changes Tax-free dividends restricted Company car tax Salary sacrifice Allowances for property and trading Business rates revision The digital tax revolution VAT changes Tax

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DBS Spring Newletter

Welcome to our Spring Tax Briefing newsletter. This quarter we look at: MTD (Making Tax Digital) Long-term implications of child benefit Paying the ATED (Annual Tax on Enveloped Dwellings) charge Marginal tax hit for Scotland NMW (National Minimum Wage) traps Levies

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DBS Winter Newsletter

Welcome to our Winter Tax Briefing newsletter. This quarter we look at: Preparing for digital business records Pension recycling Trivial benefits Salary sacrifice Marriage allowance How your savings are taxed Topping up your state pension To read our winter newsletter in full please

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Cheltenham Practice Opportunity

An opportunity has arisen to acquire a private practice located on 2 sites in Cheltenham town centre.  Valuation of £921,000. Please contact george@dbs.org.uk for further information.

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Personal Tax Account – a New Service from HMRC

Everyone can now access their own Personal Tax Account. Once registered, you are able to access all the information that HMRC holds on you, in one place. You will also be able to update information such as address details, and

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Business Rates are Changing

The Valuation Office Agency (VOA) is responsible for assessing all rateable values across England and Wales and has now released the draft 2017 rateable values. To check and review your draft rateable value go online https://www.tax.service.gov.uk/view-my-valuation/search.  If you think the

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Increase in National Minimum Wage (NMW)

On 1st October 2016 all National Minimum Wage (NMW) hourly rates will increase to: Current Rate      Rate From 01/10/2016               £                        

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Autumn Newsletter

Welcome to our Autumn Tax Briefing newsletter. This quarter we look at: Maximising Dividend Income Pension Lifetime Allowance Investors’ Relief Landlords and New Tax Laws Student Loan Deductions SMP Payments Paying HMRC To read our autumn newsletter in full please click here If

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Cyber Crime

The trouble with Cyber-crime is that it is very difficult to prevent an attack as security software may not always pick up absolutely everything so you must also look out for potential threats yourself. So – what to look out

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Superannuation Annual Reconciliation Reports

Superannuation Annual Reconciliation Reports The superannuation annual reconciliation reports need to be submitted before 30th June 2016.  If you have not already done this  or if you are still unsure of the process and if you are doing it right, we

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WOULD YOU LIKE £100 OF JOHN LEWIS VOUCHERS?

Like you, DBS relies on satisfied clients to refer new customers to help grow our business. That is why DBS have now introduced a referral scheme to reward our current clients with £100 of John Lewis vouchers for recommending a

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National Living Wage and National Minimum Wage

With the introduction of the new National Living Wage on 1st April 2016 it is a good time to remind ourselves of the rules that are pertinent to both this new law and the National Minimum Wage. The new National

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Budget Update

Our Budget Update is based on the Chancellor’s Budget Statement. This update includes: Personal Tax Lifetime ISA Employees National Insurance Corporation Tax VAT Capital Gains Property To read our Budget Newsletter click here If you have any questions about any

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Increase in the Employment Allowance

Since April 2014 all qualifying businesses have been entitled to an annual ’employment allowance’ of £2,000 which reduces the liability for Class 1 secondary NICs. The allowance is set to be increased from £2,000 to £3,000 per annum with from

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The New National Living Wage (NLW)

The National Living Wage will come into force on 1 April 2016. When the NLW comes into force all workers who are aged 25 and over must be paid at least the NLW which is currently set at £7.20 per

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The Liechtenstein Disclosure Facility ends 31 December

Time is running out for individuals wishing to register under the Liechtenstein disclosure facility (LDF). The closing date is 31 December 2015. This facility was introduced by HMRC in September 2009 in an effort to encourage taxpayers come forward and

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Highlights from the Autumn Statement (25 November 2015)

“The government remains committed to a competitive tax system with lower rates and high allowances delivering lower taxes for businesses and individuals. But the tax system also needs to be fair. The government will therefore continue to address imbalances in

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When is a car a “Pool Car”?

Whenever an asset or item of equipment owned by an employer is provided to an employee, a taxable benefit in kind will usually arise where private use of the asset is permitted.  A genuinely qualifying pool car will not however,

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Tax Relief for Replacing Furnishings

HMRC have released their consultation document on the replacement of the 10% Wear & Tear allowance available to landlords of furnished residential properties. The proposed legislation, to come into effect in April 2016, offers relief for actual costs incurred and

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It Should Not Happen To A Dentist, Nor Indeed A Lion

The last few days the media worldwide has been agog with the story of the demise of Cecil the Lion in Zimbabwe. Like many others I was very sad to hear of the hunting down of Cecil over 2 days

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Time to Pay Arrangements with HMRC – Mandatory Direct Debit

HMRC have given advanced notice regarding a change to the way they will expect customers to pay future agreed time to pay arrangements. As you may know they can use discretionary powers to agree to payment of a debt by

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Summer Budget 2015 – A Closer Look for Dental Individuals

Personal Allowance and Basic Rate Band  Previously announced rates for 2016/2017 and 2017/2018 have been increased:  Personal Allowance                                             

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At a glance Budget update for Dentists

The Tory government has released their first Budget for many years. Whilst we are awaiting the full details and need to give proper consideration to the proposals some of the main issues we have picked up that will affect dentists

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Superannuation Reconciliation Reports

The superannuation annual reconciliation reports need to be submitted before 30th June 2015.  If you have not already done this  or if you are still unsure of the process and if you are doing it right, we have compiled some

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Let Property Campaign

The Let Property Campaign gives tax payers an opportunity to bring their tax affairs up to date, whether the property is in the UK or abroad and to get the best possible terms to pay the tax you owe. The

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