News & Blog

The latest press releases and opinion from Bishop Fleming

Digital tax plans put on hold

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The government's plans to digitalise the tax system and force business from April 2018 to make quarterly online returns have been dropped, due to the general election. Top 40 accountants Bishop Fleming welcomed the move,…

Tax changes dropped ahead of General Election

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Major tax changes that were announced in the Spring Budget have been dropped by the government, due to a lack of time to pass them into law ahead of the 8 June General Election. With…

Probate fee rises scrapped

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Controversial plans to increase probate fees are to be scrapped due to the general election. They had been set to rise in May 2017 from as little as £155 up to as much as £20,000 for some…

Investing in a new Lifetime Individual Savings Account

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Since 6 April 2017 an individual aged between 18 and 40 can invest up to £4,000 a year into a new tax free Lifetime Individual Savings Account (LISA). This forms part of the overall maximum…

Inheriting the family home

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Inheriting the family home is becoming less expensive due to a new inheritance tax (IHT) relief for residences which was introduced in April 2017. The relief is flexible enough to allow a person to downsize to…

Making Tax Digital for business

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Following the 2017 Spring Budget it has been confirmed that Making Tax Digital, the most radical change in the tax system for over 20 years, will proceed as planned, but with a delay of a…

Spring Budget update – A turn for the worse

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Philip Hammond's Spring Budget, with its U-Turn on National Insurance Contributions (NICs), alienates the very businesses the government should be encouraging, claims Top 40 accountants, Bishop Fleming. Matthew Lee, Managing Partner at Bishop Fleming, described…

Dividend Tax change in 2018

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The new dividend tax regime, which has been in place since April 2016, is to be amended in April 2018, following announcements in the Spring 2017 Budget. Since 6 April 2016 dividend income above £5,000 has…

National Insurance U-Turn, but dividends tax goes ahead

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The government has announced that the proposed increase in National Insurance paid by the self-employed will be shelved until at least 2020. In the Spring Budget the Chancellor had announced that Class 4 National Insurance…

Spring Budget 2017 and the world of payroll

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The recent Spring Budget confirmed a number of payroll-related changes that will take place this year. Tax rates and thresholds As expected, the personal allowance increases in April 2017 to £11,500, continuing its rise towards…