Clifford Towers

Chartered Accountants

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Making Tax Digital: Get Ready – NOW

5th February 2019 by Simon Towers Leave a Comment

Making Tax Digital Get Ready Now

The first step in the Government’s goal to get all tax submissions digital begins in April 2019. They are, thankfully, starting with one avenue before tackling the rest – and that is VAT submissions. In this blog post I highlight what you need to know and how you can make sure you are ready. Who […]

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Filed Under: Accounts Preparation, HMRC Campaigns, Small Business, Tax Advice Tagged With: Making Tax Digital, VAT

Criminal offences for companies and partnerships

9th March 2018 by Simon Towers Leave a Comment

Criminal Offences Tax Evasion

It’s already a crime to evade tax, or deliberately help another person to do so, but the government has taken a firmer stance on corporate fraud. In this blog post, I’ll outline the new criminal offences and provide advice on how you can prevent the criminal facilitation of tax evasion. What’s changed? The Criminal Finances […]

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Filed Under: HMRC Campaigns, Tax Advice Tagged With: Criminal Offence, HMRC, Tax Evasion

Making Tax Digital – A new and more sensible way forward!

26th July 2017 by Simon Towers Leave a Comment

Making Tax Digital - New way forward

The government has announced a new timetable and revised plans for Making Tax Digital (MTD). This welcome announcement means that MTD is not going to be forced onto businesses in the immediate future. Read this blog post to find out why the plans have changed and what the new timetable is. As a professional, I […]

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Filed Under: Accounts Preparation, Tax Advice Tagged With: HMRC, Making Tax Digital, VAT

Tax-Free Childcare scheme

13th July 2017 by Simon Towers Leave a Comment

At the end of April 2017, the new Tax-Free Childcare scheme was launched by the Government. In this blog, I explain what the scheme is, who’s eligible and what this means for employers. What’s new? The government has started inviting parents to apply for Tax-Free Childcare beginning with parents of the youngest children and parents […]

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Filed Under: Employer Considerations, Tax Advice Tagged With: Tax-Free childcare

Property Letting: The New Rules

14th November 2016 by Simon Towers Leave a Comment

Property Letting - New Rules

In line with the recent tax changes to property lettings, we’ve posted a detailed review on our resources page. Here’s an at-a-view glance about what you need to know… Understanding the new rules The recent tax changes to property lettings apply to buy-to-let landlords in the UK and their residential properties. Interest relief The change […]

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Filed Under: Landlord Considerations, Tax Advice Tagged With: Property letting

Tax scam targeting the elderly

19th September 2016 by Simon Towers Leave a Comment

Tax Scam alert from Clifford Towers

There’s a worrying telephone tax scam doing the rounds at the moment, which is particularly targeting the elderly. HMRC has asked us to alert our customers and share what you should watch out for… How this particular tax scam works A fraudster leaves you a telephone message threatening you with a HMRC lawsuit. You’re asked […]

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Filed Under: blog, HMRC Campaigns, Tax Advice

New changes for buy-to-let owners

21st September 2015 by Simon Towers Leave a Comment

Buy to let - changes affecting tax deductability

Following the 2015 Summer Budget, there are some changes being brought into force for buy-to-let owners. Read on to find out how the new rules will affect you…

 Heard the news? Income tax relief for landlords on residential property finance costs is to be restricted to the basic rate of income tax.

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Filed Under: blog, Budget Talk, Landlord Considerations, Tax Advice Tagged With: Buy-to-let owners, Summer Budget 2015

The New Dividend Tax Explained

21st September 2015 by Simon Towers Leave a Comment

How will the new Dividend Tax rules affect you

It’s all change on dividend tax rules following the 2015 Summer Budget. Read on to find out how they could affect you…

In the 2015 Summer Budget, the Chancellor announced there are going to be fundamental changes to the way dividends are taxed.

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Filed Under: blog, Shareholders and Directors, Tax Advice, Tax Calculations Tagged With: Dividend Tax, Summer Budget 2015

Form SA302: Certifying Income for Mortgages – H.M. Revenue & Customs makes some changes…

10th April 2015 by Simon Towers 4 Comments

HMRC have updated SA302 calculation

As I have blogged before, most mortgage lenders require form SA302 as evidence of a mortgage applicant’s financial standing. These forms are difficult to get hold of as HMRC only automatically issue them to tax payers who have submitted a paper tax return. A vast majority of people either submit their returns on-line or use tax agents who similarly submit their client’s tax returns on-line.

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Filed Under: Accounts Preparation, blog, Tax Advice, Tax Calculations Tagged With: Form SA302, Mortgage Lender needs, Self Assessment, Tax Calculation

The Budget 2015 | “Steady as she goes”

19th March 2015 by Simon Towers Leave a Comment

budget 2015

This was the Chancellor’s last Budget Statement before the general election on 7 May 2015. The last Budget before an election is always likely to be a political budget with the possibility of pre-election giveaways.

However the Chancellor was consistent before the Budget in dampening down expectations. When the speech came – it was entertaining with plenty of digs against the Opposition but with very few major proposals. The message is still ‘steady as she goes’. What will the electorate think? By the 7 May 2015 the hype will have subsided and the implications of any proposals will be much clearer.

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Filed Under: Accounts Preparation, blog, Tax Advice Tagged With: Budget 2015, Increase in personal allowance

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Clifford Towers is the trading name of Clifford Towers (Accountants) Limited, a company incorporated in Cardiff, Registration number 4516535, Registered office : Clifford Towers, Unit 14A, Davy Court, Castle Mound Way, Rugby, CV23 0UZ. Director : S G C Towers FCA
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