Hicks blog

Important dates and changes for April 2017

As another new tax year begins, here are some important tax dates and changes to be aware of this month.

National minimum and living wages rise from 1 April

The national living wage (NLW) is now £7.50 an hour.

Late payment regulations support SMEs

Large companies and limited liability partnerships (LLPs) will have to publish their payment practices and performance twice a year from April 2017.

Pensioners staying in work drives up retirement income

The rise in the proportion of pensioners in employment accounts for a quarter of pensioner income growth, according to the Resolution Foundation.

Apprenticeship levy approaches

Employers with an annual turnover of over £3 million will have to pay a 0.5% levy of their wage bill which will go towards apprentices and training for their business.

Firms prepare for Making Tax Digital

Businesses will be given at least 12 months to prepare for the transition to digital tax accounts.

Retired household income up 13% since 2008

Median income for retired households rose by 3.1%between 2014/15 and 2015/16, according to the Office for National Statistics (ONS).

SME borrowing set to rise in 2017

SME borrowing is projected to rise 22% in 2017, according to Zurich.

Tax and finance changes for 2017

A number of tax and finance changes are set to take place in 2017.