HMRC have published their updated toolkits for Self-Assessment and Company Tax Returns 2017-18. To find out more, click on this link.

HMRC have published their new pension schemes newsletter on 29 June 2018. To find out more, click on this link.

We would like to inform you about updates we have made to our Privacy Policy in light of the new General Data Protection Regulations (GDPR) that came into effect on 25 May 2018.

What is GDPR? The GDPR forms part of the data protection regime in the UK, together with the new Data Protection Act 2018 (DPA 2018). Find out more on the Information Commissioner's Office website.

Our Privacy Policy describes and clarifies what kind of information we collect, how we use your personal data and how you can manage your personal data.

Further information on our terms and conditions and how we collect, process and use your personal data is included in our client engagement letters. 

If you would like any clarification, or if would like to discuss how we make use of your personal data we collect from, or about you, you can write to, or send an email to, our Data Protection Officer:

The Data Protection Officer
5 Munro Road
Unit 1 Springkerse
Stirling
FK7 7UU 

e: hello@jjaccountingsolutions.co.uk

Download our handy pdf guide on HMRC Tax rates and thresholds for 2017/18 below:

Personal allowance:​ From 6 April 2017 the tax-free personal allowance will increase to £11,500. The higher rate threshold will rise to £45,000 except in Scotland where it remains at £43,000. 

National Minimum Wage: The national minimum wage for those aged 25 and over will rise to £7.50 as from April 2017.

Dividend allowance: The tax-free dividend allowance will reduce from £5,000 to £2,000 from April 2018.

Corporation tax: The corporation tax rate will fall to 19% from April 2017 and to 17% in April 2020.

Capital Gains Tax: The annual capital gains tax exemption increases by £200 to £11,300 from April 2017.

VAT Registration and De-registration Thresholds: The taxable turnover threshold, which requires a person to register for VAT, increases from £83,000 to £85,000 per annum.  The threshold below which a VAT-registered person may apply to deregister increases from £81,000 to £83,000 per annum​. 

Flat Rate Scheme (VAT): With effect from 1 April 2017, businesses eligible to use the flat rate scheme but which are classified as a ‘limited cost’ business, will have to account for VAT at 16.5% of their relevant gross turnover. 

Making tax digital: Businesses with turnover that is less than the VAT registration threshold (currently £83,000)  will have the introduction of quarterly digital reporting delayed by 12 months.