ISSUES TO CONSIDER BEFORE END OF THE TAX YEAR

DON’T LOSE YOUR PERSONAL ALLOWANCE For every £2 that your adjusted net income exceeds £100,000 the £11,850 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%. The restriction applies between £100,000 and £123,700 adjusted net income. Another […]

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TAX DIARY MARCH/APRIL

19/03 PAYE & NIC deductions, and CIS return and tax, for month to 5/03/19 (due 22/03 if you pay electronically) 1/04 Corporation tax payment for year to 30/6/18 (unless quarterly instalments apply) 1/04 MTD for VAT starts to apply to VAT record keeping and VAT reporting for return periods commencing after this date (unless deferral […]

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BRYDEN JOHNSON GOLD CHAMPION PARTNERS

Bryden Johnson are delighted to announce their Gold Champion Partner status with Xero. The gold status reflects the experience and expertise offered by Bryden Johnson, and the successful migration of many clients on to the Xero platform. Xero is an award winning cloud based accounting software system that allows full 24 hr access to business […]

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TERMINATION PAYMENT CHANGES DELAYED TO 2020

HMRC have announced that the changes to the national insurance (NIC) treatment of termination payments and sporting testimonials have been delayed to 6 April 2020. From 6 April 2020 Employer class 1A NIC will become payable on termination payments in excess of £30,000 and on sporting testimonials that exceed £100,000 (lifetime limit). The changes are […]

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TAX DIARY FEBRUARY/MARCH 2019

19/02 PAYE & NIC deductions, and CIS return and tax, for month to 5/02/19 (due 22/02 if you pay electronically)1/03 Corporation tax payment for year to 31/5/18 (unless quarterly instalments apply) 2/03 5% penalty imposed on 2017/18 income tax, CGT, class 2 and 4 NIC still unpaid at this date 19/03 PAYE & NIC deductions, […]

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