MTS Accountants, Belfast

Author: Grainne McConville

August News

In this month’s news we report on forthcoming restrictions in interest relief on residential property, HMRC’s latest ‘tax cheat’ targets and revised student loan deduction guidance for employers. Please contact us if you would like further guidance on any of the areas covered. Residential property income and interest relief The government has issued guidance and examples […]

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MTS Speers

Introducing

MTS Chartered Accountants are excited to announce its merger with Holywood based accountancy firm Graham Speers & Company. Both MTS and Speers & Company, approaching their 50th and 30th anniversaries respectively, have long standing reputations for offering their clients a wide range of services and outstanding client relations and we strongly believe that this merger […]

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Budget 2016

George Osborne presented his Budget on Wednesday 16 March 2016. In his speech the Chancellor reported on ‘an economy set to grow faster than any other major advanced economy in the world’.  Towards the end of 2015 the government issued many proposed clauses of Finance Bill 2016 together with updates on consultations. The Budget proposed […]

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Annual Investment Allowance Certainty

The Chancellor announced that Annual Investment Allowance will be set permanently at £200,000 from 1 January 2016 providing certainty for businesses. The AIA provides a 100% deduction for the cost of most plant and machinery (not cars) purchased by a business, up to an annual limit and is available to most businesses. The AIA was […]

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PAYE News

PAYE late filing penalties HMRC have now issued the first in-year penalties notices to employers with fewer than 50 employees who missed the deadline for sending PAYE information to HMRC. Rather than issue late filing penalties automatically when a deadline is missed, HMRC have announced that they will ‘take a more proportionate approach and concentrate […]

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Inheritance Tax and the family home

The government has announced the introduction of a new transferrable nil rate band for the family home. The additional band will apply where a residence is passed on death to direct descendants such as a child or a grandchild. This will initially be £100,000 in 2017/18, rising to £125,000 in 2018/19, £150,000 in 2019/20, and […]

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The Marriage Allowance

The Low Incomes Tax Reform Group published updated their guidance on how to apply for the new transferable personal allowance, known as the marriage allowance, for married couples and civil partners which came into effect on 6 April 2015. The transfer of part of the personal allowance between spouses (or civil partners) allows eligible couples […]

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Changes for ‘Buy to Let’ Landords

It was announced in the Budget that the government will restrict the amount of income tax relief landlords can claim on residential property mortgage interest costs to the basic rate of income tax. This means that landlords will no longer be able to deduct all of their finance costs from their property income. They will […]

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Employment Figures on the Rise

The Office for National Statistics (ONS) has released figures showing that UK employment rates were up between February and April compared to the three months to January 2015.  As detailed in the press release the figures show: ‘There were 31.05 million people in work, 114,000 more than for the 3 months to January 2015 and […]

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MTS Marathon Success for Action Cancer

  MTS are proud to announce that the total raised for Action Cancer, by taking part in the 2015 Belfast City Marathon, was over £6,200. The relay team, consisting of Paula Hennessy, Tony Glover, Peter Kelly, Bruce Turkington and Craig Turkington, exceeded expectations by completing the marathon in 4 hours 3 minutes. The walking team […]

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