Welcome to our August monthly newswire designed to keep you informed of the latest business and tax issues.
Click on the heading for the full story. Please contact us if you have any questions and remember, we’re here to help.
- Bank of England raise interest rate – The Bank of England has raised the interest rate from 0.5% to 0.75%.
- Making Tax Digital for VAT – HMRC has published further information on Making Tax Digital for VAT (MTDfV).
- Scotland introduces relief for first-time buyers – First-time buyers in Scotland will be helped to purchase their first home through a new tax relief which applies to Scottish Land and Buildings Transaction Tax (LBTT).
- Next round of tax draft tax legislation published – The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation.
- One million couples still eligible for tax boost – HMRC has highlighted that three million UK couples have already taken advantage of Marriage Allowance but a million more are still eligible for the tax break.
- Consultation on pensions cold calling ban – HMRC has launched a consultation on draft proposals to ban pensions cold calling.
- Use Tax-Free Childcare over the summer holidays – The Government is reminding ‘stressed-out parents’ that help may be available for childcare costs during the summer holidays.