HMRC are planning big changes to how individuals and businesses submit tax returns, with a move away from the traditional annual returns.
01 - Making Tax Digital - An Overview
October 8, 2017
02 - Tax Free Childcare - Available to all parents earnings less than £100k
October 20, 2017
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 are still eligible to apply for it until 31 March 2018. Provided that they are registered by 31 March 2018, they can still benefit from the scheme going forward.
For more details on the changes, the ATT have published a comprehensive article on the subject here. If you would like to discuss how the change effect you, please get in touch.
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