Read our latest Practice News as well as sector specific and accountancy updates from across the UK.
HMRC has finally gone live with its new ‘Trust Registration Service’ (TRS) which replaces the old system of paper forms for registration of trusts and in return updates with an online service which can be updated in real time. The service went live for trustees in early summer 2017 and finally for agents in November 2017.
As you will now know, the government announced a major revision to the MTD timetable. Digital record-keeping and reporting are to be voluntary for smaller businesses and compulsory reporting is deferred to April 2019 for VAT and April 2020 at the earliest for other taxes. From 1 April 2019, businesses with taxable turnover over the VAT threshold – currently, £85,000 – will have to keep their VAT records digitally and submit VAT returns digitally to HMRC.
Greaves West & Ayre introduces a new service – Probate and Estate Administration
Christmas Greetings and a Festive Warning. As we approach the end of another year we would like to wish all of our clients, employees and friends a very Happy Christmas.
The draft Scottish Budget was announced on 14 December by finance secretary Derek Mackay. This is the most significant Scottish draft budget to date with the finance secretary announcing that the Scottish Government will exercise Scotland’s income tax raising powers to make changes to the rates and bands applying to the Scottish rate of income tax.