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Budget March 2017: Tax squeeze to continue

The Government has in recent years increased the amount of tax raised by targeting certain sectors. Landlords have been particularly hit in recent years with restrictions on loan interest relief and certain expenses not being able to be offset against rental income. The extra 3% on Stamp Duty Land Tax on buying an additional property… Read More

Budget 2017: Levelling the tax playing field

The Chancellor announced the introduction of measures from April 2018 to tackle the discrepancy between the tax and NIC paid by individuals who are employed, self employed and an employed worker who operates via their own limited company. From April 2018 self employed workers will see a 1% increase in NIC to 10%. This will… Read More

The Ogden rate – what is it and how does it influence insurance premiums?

Not many people outside of the legal and insurance sectors will be familiar with the Ogden rate, not least because it hasn’t changed since 2001 and not therefore been worthy of much press attention. We are all aware however of the prevalence of personal injury claims, and their knock on effect to insurance premiums. The… Read More

Growth Spurt February 2017: Getting things done as a leader…

In this series of snippets we distil our regular Growth Academy half-day workshops down into their essential elements and learning points. A strategic prompt for the Academy members who were there, and a taster of what you missed if you weren’t… Date: 21 February 2017 Key focus: Getting things done as a leader in 2017… Read More

National Minimum and Living Wage rates from October 2016

New rates for the National Minimum Wage and the National Living Wage were introduced with effect from 1 October 2016 Full details can be found on the HMRC website  Year 25 and over 21 to 24 18 to 20 Under 18 Apprentice October 2016 (current rate) £7.20 £6.95 £5.55 £4.00 £3.40   For a full… Read More

4 years with a MacBook Air

In June 2012 I wrote two blog articles on the theme of The Accountant with a Mac. These detailed my reasons for buying a MacBook Air as my work computer. At the time Macs were a rare sight in the business world, especially for accountants, where Windows applications were standard. Four and a quarter years… Read More

Cyber crime is in the news again – does your business need protection?

Cyber Liability Insurance  – what is it and is it relevant to your business ? With businesses being more dependent on internet based services than ever before, the associated risks are very real for all small and medium enterprises. This article explores the cyber crime exposures a company may face, advises on the protection available… Read More

March 2015 Budget: The end of Tax Returns?

The headlines following the Budget indicated that “end of year tax returns will be scrapped” and “tax returns will become a thing of the past.” So what is being proposed instead?  Individuals and business will have a digital tax account. All the information for a taxpayer will be held in one place. A business will… Read More

2015 Budget: Boost for Farmers

The Budget provided a boost for self employed farmers who will be able to average their taxable profits over 5 years compared to the current 2 years. This is to take into account variations in weather and market volatility.  This measure with become effective in April 2016. We have a number of farming clients and… Read More

5 Reasons why Dafferns should file your 2015 tax return

Asking Dafferns to complete your tax return will be money well spent…and the savings made often far outweigh the modest cost of having the return completed professionally. The UK tax system is hugely complicated and convoluted. If you are a higher rate tax payer and you fill in your own tax return, the chances are… Read More