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Member Update - March 2017

Have you booked your place at the IAB seminar?

The IAB has arranged the first in a series of seminars for 2017. The seminar will cover topics including: Making Tax Digital, automatic enrolment, FRS 102 and 105 and much more.

The event will take place in London on Thursday 18th May 2017 and is an excellent way to gain updates for your own business or the business you work for and your clients.

Find out more >

Class 4 NICs rise to be delayed, says PM

Theresa May is set to delay Chancellor Philip Hammond’s move to raise Class 4 national insurance contributions (NICs) until the autumn after some Conservative MPs strongly objected to the measure. Find out more about Class 4 NICs and the highlights from the budget by clicking on the 'Read More' link below. You can also find a budget report and the tax rates for 2017/2018 by logging into the Restricted Area of our website.

£40k plus car purchases face higher road tax rates

From next month, those buying new cars valued £40,000 and more will have to pay a five-year charge as well as the annual road tax rate, while cars registered before 1 April 2017 will not be affected. The measure was introduced to encourage people to buy low-emission cars as under the new system first year rates of vehicle excise duty (VED) will differ according to the CO2 emissions emitted.

Take part in our annual survey

We are conducting our annual survey for the 2016 membership year, and your response would be much appreciated. We are continuously working to provide you with the best service and to gain your views on the IAB. A link to complete the survey can be found here: https://www.surveymonkey.co.uk/r/9JHYCM9.

Auto-enrolment: Key messages March 2017

Automatic enrolment: Minimum contribution levels due to increase in April 2018.

By law, minimum pension contributions are required to increase over time on set dates. These increases are planned in two phases from 6 April 2018 and then again in April 2019.

HMRC offers host of advice

HMRC is ramping up the advice, guidance and tips offering on its website for bookkeepers and accountants. This includes agent toolkits, digital meetings, webinars, e-learning tools and videos. HMRC has also arranged further Talking Points sessions covering topics including automatic enrolment and agent services.

Volunteers wanted to assist with a new IAB Facebook group

We are in the process of setting up a Facebook group exclusively for IAB student and professional members. The aim of the group is to provide further support to you and a platform where you can interact with other members. The group will be used for discussions relevant to studying or the bookkeeping profession, and can be used to post any queries you may have.

Do you have a technical query you need help with?

The IAB is working with Solar Taxwise to provide a free helpline for any members who have VAT and tax related queries. If you need assistance with technical questions relating to other areas then we have a panel of experienced members who can help.

Get your books in order at Europe’s largest Business show!

Europe’s biggest and best free business exhibition is back on 17th & 18th May at ExCeL London. The Business Show is a must-attend for any entrepreneur or business owner looking to start or grow their business.

Word from Sarah: Behind the Scenes

In her regular feature, Sarah Palmer tackles the issues that matter.

Recently I have had the honour of meeting the IAB Council Members and gaining a deeper understanding of the important role they play. I personally think, as members, we should be proud to have such passionate professionals driving the IAB forward and representing our industry in the wider community.

IAB Privileges: Save an Additional 5% on selected Package Holidays

Explain to Your Travel Rewards where you want to go, what board basis you fancy and which type of holiday you’d like to enjoy - sun, ski or cruise. They will search leading tour operators to find your perfect package and slash 5% off the total cost.*

International - New EU initiative to help SMEs expand business abroad

European SMEs can take advantage of new EU support to participate in a series of one-to-one meetings at international trade fairs to expand their businesses abroad.

Business Beyond Borders (BBB) will help EU businesses operate internationally by organising a series of Business-to-Business (B2B) and Cluster-to-Cluster (C2C) matchmaking events at selected international trade fairs to initiate SMEs’ entry into new markets, from Australia and South Africa to India, Chile, Iran, and beyond.