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personal

Tax Diary January 2020

These are the important tax dates for your diary this month. 

In Business? Add these to your new year resolutions

The end of the calendar year is a popular accounting date for many businesses, but for those of us with a year-end accounting date of 31 March 2020, reviewing your management accounts for the nine months to the end of December 2019 is a must-do.

Tax Diary November 2019

Here are the important tax dates for your diary this November.

Working after State Pension age

It is fine to keep working past your State Retirement Age unless your employment is subject to retirement at a compulsory retirement age.

Tax Diary October 2019

Here are the impotant dates for this October:

Is a FIC right for you?

A FIC is a “family investment company” and a tax efficient way of passing on your wealth without losing control of it.

Your Personal Tax Account

Have you checked your personal tax account recently? If at all?  Latest research from the Post Office shows that 46% of UK workers have never checked their personal tax account.  

Self Assessment Update

On Friday 1st February, HMRC announced that over 93% of taxpayers filed their self-assessment tax returns on time and before the 31st January deadline.

Self Assessment Update

On Friday 1st February, HMRC announced that over 93% of taxpayers filed their self-assessment tax returns on time and before the 31st January deadline.

Ministers considering over 40’s tax

Ministers in the United Kingdom are considering new ways to fund the increasing cost of social care.  One of the suggested methods has been successfully used in Germany for nearly two decades and involves placing a 2.5% levy onto the income and earnings of those aged over 40.

Ministers considering over 40’s tax

Ministers in the United Kingdom are considering new ways to fund the increasing cost of social care.  One of the suggested methods has been successfully used in Germany for nearly two decades and involves placing a 2.5% levy onto the income and earnings of those aged over 40.

Protect your home

A government think-tank, the Office for Tax Simplification (OTS), was briefed to consider a non-tax issue, a restricted form of limited liability for sole traders.

Protect your home

A government think-tank, the Office for Tax Simplification (OTS), was briefed to consider a non-tax issue, a restricted form of limited liability for sole traders.

Payments in lieu of notice

Up to 5 April 2018, certain payments in lieu of notice were not taxable, primarily, those not contractually required to be made.

Payments in lieu of notice

Up to 5 April 2018, certain payments in lieu of notice were not taxable, primarily, those not contractually required to be made.

Looking ahead to your future?

Are you looking ahead to your future? Perhaps, you have parents or relatives who may require care assistance?

Looking ahead to your future?

Are you looking ahead to your future? Perhaps, you have parents or relatives who may require care assistance?

4 common mistakes to avoid when submitting your paper tax return

The countdown has begun for this years’ paper tax return, a crucial time for around 10 miilion taxpayers who are either self employed or  receive other income that requires the submission of a tax return, which is normally rental income,  interest or dividend income. It is also necessary to submit a tax return if you have realized capital gains on which a tax liability arises, or if you have made a loss on the disposal of a capital asset that you want to carry forward to set against future gains.

4 common mistakes to avoid when submitting your paper tax return

The countdown has begun for this years’ paper tax return, a crucial time for around 10 miilion taxpayers who are either self employed or  receive other income that requires the submission of a tax return, which is normally rental income,  interest or dividend income. It is also necessary to submit a tax return if you have realized capital gains on which a tax liability arises, or if you have made a loss on the disposal of a capital asset that you want to carry forward to set against future gains.

Is your tax code correct?

Taxpayers are being urged to check their tax codes after HM Revenue & Customs introduced a new “dynamic coding” system in July. 

Is your tax code correct?

Taxpayers are being urged to check their tax codes after HM Revenue & Customs introduced a new “dynamic coding” system in July.