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Finance & Tax Acuity Autumn 2018-19

Our regular update on financial, investment and tax developments for investors, company directors and private clients. 19443 MACO ACTUITY NEWSLETTER cover

Click on the links below to download a pdf of the latest edition of Financial & Tax Acuity.

In this edition:

Autumn Budget 2018

"...austerity is coming to an end - but discipline will remain" were the words the Chancellor, Philip Hammond, used to summarise his October 29th Budget speech. That balance between continued cuts and excessive borrowing was evident in the measures announced in the budget. >more

MTD for VAT Information session 13 February 9am-10.30 at our Glasgow Office >find out more and register

 

2019 Outlook: Time to temper your return expectations?

Over the last eight years, the stock market has been pretty generous, providing many investors with a period of relatively strong rates of return. Some experts are warning that the next few years are likely to be less rewarding and that investor expectations need to be tempered in readiness for a period of lower average investment returns. >more

Cash flow planning: your personal road map for the future

Many people spend their working loves planning and saving for their later years. However, when they reach retirement they can be unsure as to how best to allocate their cash. This is where cash flow planning can really help.

If you ran your own business, or held a senior position prior to retiring, you will be familiar with the importance of receiving regular monthly/quarterly management accounts with the next couple of quarters forecast appended to the reporting pack. >more

What to do to aviod going over your Lifetime Allowance

1000% increase since 2006 (that's the increase in the tax paid by individuals who have breached the Lifetime Allowance (LTA)).

In 2006.07 less than £10m in tax was paid by savers who breached the LTA, whereas Retirement Advantage, now part of Canada Life, recently obtained figures that highlighted £110m in tax was taken from savers who breached the LTA. >more

News on no deal Brexit for VATno deal brexit icon

It has been confirmed that the UK VAT system for domestic transactions will continue in the event of the UK leaving the EU with no deal in March 2019.

The government has published a guidance note which confirms some details of what will happen in the event of a 'no deal' Brexit. The note confirms that VAT for UK domestic transactions will remain unchanged, but businesses will have to treat imports from EU countries like current third, non-EU countries, which could mean changes to IT systems and reporting processes. >more

VAT shake-up for construction sector

Large and small businesses making standard-rated or reduced-rated supplies of construction services may be impacted.

One of the biggest changes to the VAT legislation in recent years is expected to come into force in 2019 and will affect companies, contractors and subcontractors in the construction industry. >more

More requirements to fall on private landlordspressures on landlord icon

Fresh requirements will increase the complexity for landlords and people making money renting out their main residence from 2019.

The effect of these changes is visable as new buy-to-let sales are dropping, and large numbers of landlords are reportedly looking to sell rental property. Within the new requirments affecting property disposals, it may be worth reviewing your arrangements ahead of the deadlines mentioned within our Acuity. >more

If you would like to discuss any of the finance, tax or investment issues in this edition get in touch with us to arrange an appointment. >Get in touch  

Scottish Budget 2019-20