The government are phasing out the previous tax benefited child care vouchers and replacing it with a new scheme that doesn't involve the parent's employer. It is therefore available to all employed parents, as well as self-employed parents, which is an improvement to the previous scheme which was dependent on an employer offering the scheme. The new scheme offers tax savings of up to £2,000 per annum per child. Parents may, however, be better off under the old scheme, and ar

HMRC are planning big changes to how individuals and businesses submit tax returns, with a move away from the traditional annual returns. Cloud software provider Xero has published a useful overview explaining what Making Tax Digital is, and how it will impact on small and medium sized businesses. To read more, please follow the link.