Newsletter 113

Headlines from our latest newsletter.  Please click on any of the links below for more information :

VAT FLAT RATE SCHEME - LIMITED COST TRADER

Changes are being made to the Flat Rate Scheme (FRS) which take effect from 1 April 2017
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#VAT

EQUALITY - GENDER PAY GAP REPORTING

The government has introduced new requirements for all private and voluntary sector employers of over 250 people relating to equal pay reporting from April 2017
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#Equality

MINIMUM WAGE RISES AGAIN

Employers need to ensure they are paying their employees at least the appropriate National Minimum Wage (NMW) or National Living Wage (NLW) rate. The rates increase from 1 April 2017 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#Minimum

TAX-FREE CHILDCARE TO BE ROLLED OUT FROM 28 APRIL 2017

Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, will be launched from 28 April 2017 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#Childcare

CLASS 4 NATIONAL INSURANCE U-TURN

One of the significant announcements Chancellor Philip Hammond made on Budget Day was the proposed increases to the main rate of Class 4 National Insurance Contributions (NICs) paid by self-employed individuals from 9% to 10% from April 2018 with a further increase planned from 10% to 11% from April 2019 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#Class

MAKING TAX DIGITAL FOR BUSINESS UPDATE

Extensive changes to how taxpayers record and report income to HMRC are being introduced under a project entitled Making Tax Digital for Business (MTDfB) - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#Digital

REDUCTION IN THE DIVIDEND ALLOWANCE

It was announced in the Budget that the Dividend Allowance will be reduced from £5,000 to £2,000 from April 2018 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-113#Reduction