Smaller landlords feel the sting of tax changes

The number of landlords with smaller portfolios has decreased, following tax changes in the buy-to-let sector. Research by Paragon found that the proportion of landlords with 3 to 5 properties down from 26% to 24% at the end of 2017. This contrasted with rising...

OTS calls for business tax simplification

The Office for Tax Simplification (OTS) is calling on the government to reform the tax system for businesses at the key stages of their growth. A report published on 16 April 2018 outlines several areas where the taxation of businesses could be simplified and reliefs...

SMEs could save £17,000 with digital accounting

Small and medium-sized businesses that use digital software to help with their accounting process could save 27.6 days a year, analysis by Sage shows. According to Sage's research, 59% of SMEs use digital software for accounting, while 18% continue to use manual...

Disincorporation relief set to expire

Businesses will no longer be able to claim disincorporation relief from 31 March 2018. The relief is being withdrawn after fewer than 50 businesses attempted to access the scheme 3 years after its launch, despite more than 610,000 UK businesses being eligible....

MTD pilot opens to the self-employed

Self-employed businesses can voluntarily use software to manage their business records digitally and send income tax updates to HMRC, following the opening of its Making Tax Digital (MTD) pilot. The pilot became available to sole traders with income from one business...