August 2016 Newsletter

“You may have the universe if I may have Italy.” Giuseppe Verdi.

San Marco, Venice, Italy 2009

 

We are certainly hoping that Mark and Laura are enjoying the delights of Italy. Their “Roman experience” has been expertly crafted by the very talented and super conscientious Alan Wilman of Travel Counsellors. No detail too small, no request too large.

Whilst the boss is away… it’s business as usual at MJH Accountants, with all hands on deck. If you need us, we are here, Monday – Friday 8am – 6pm and 9am – 1pm on Saturdays.

The Team wishes everyone a safe and happy summer time.

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August 2016 Tax Tips & News

Welcome…
To August’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

We are committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice in your own specific circumstances. We’re here to help!

HMRC Annual Report Published

 

The National Audit Office has published a report on the 2015-16 accounts of HMRC.The report shows that HMRC raised £536.8bn of tax revenues during 2015-16, an increase of £19.1bn (3.7%) on 2014-15 and paid out £40bn in benefits and credits (approximately one-fifth of the government’s total benefit expenditure). The taxes that contributed to most of this increase were income tax and National Insurance Contributions (NICs), which together increased by £10.3bn (3.8%); corporation tax, which increased by £4.1bn (9.9%); and VAT, which increased by £2.1bn (1.8%). Capital gains tax and Insurance premium tax also recorded significant increases, by 28.1% (to £7.3bn); and 27.6% (to £3.7bn) respectively. The annual cost of running HMRC was £3.2bn in 2015-16 (£3.1bn in 2014-15).

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