MTS Accountants, Belfast

Author: Grainne McConville

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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MTS Pound The Pavement For Action Cancer

MTS Chartered Accountants are fielding a relay team in the 2015 Belfast City Marathon in order to raise money for Action Cancer. The team, which is led by Senior Manager Paula Hennessy, consists of Paula and Directors Tony Glover, Peter Kelly, Bruce Turkington and Craig Turkington. As well as the relay team, Senior Manager Grainne McConville […]

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