Jefferies Newsletter July 2017

Another Finance Bill

The Finance Bill 2017 was to be the largest at 762 pages but in order to rush it though it was cut to 148 pages! That’s an 80% reduction dropping 72 out of the 135 clauses and 18 out of 29 schedules.

Our tax system is already far too complex:

  •  6,102 pages of legislation (according to Tolleys in 2012)
  • 639 monetary values
  • 425 thresholds
  • 214 penalties

It’s a shame they couldn’t cut all the tax rules by 80%!

Further details in the newsletter link below.

Time to Renew your Tax Credits

If you’re claiming tax credits, you’ll be sent a renewal pack in the post. It will tell you how to renew your tax credits.

You must renew your tax credits by 31 July 2017 if your renewal pack has a red line across the first page and it says ‘reply now’

Also in this newsletter

  • What will you need to report when Making Tax Digital starts in April 2018?
  • What are the rules on Travel and Subsistence?

Download your copy of our July 2017 here.