TAX PLANNING BEFORE END OF TAX YEAR

There is still time to consider your tax affairs before the end of the tax year on 5th April. You might want to consider increasing your pension savings before 5 April 2020 as the unused annual pension allowance is lost after three years, and for  those looking to do some inheritance tax planning it would […]

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KEY BUSINESS TRENDS FOR 2020

The environment, wellbeing, mental health and technology look set to be some of the big business trends in 2020. As we move into 2020, businesses will have to adapt in a world that places greater emphasis on sustainable business practices. People will want to work for firms that take care of their employees in terms […]

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TAX DIARY JANUARY / FEBRUARY 2020

Date What’s Due   1/01 Corporation tax payment for year to 31/3/19 (unless quarterly instalments apply)   19/01 PAYE & NIC deductions, and CIS return and tax, for month to 5/01/20 (due 22/01 if you pay electronically) 31/01 Deadline for Self-Assessment tax return for 2018/19 if filed online. Also the due date for 2018/19 balancing […]

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CHRISTMAS GIFTS OF UP TO £50

Remember that certain gifts to staff at Christmas are tax free if structured correctly. Ever since April 2016 employers are allowed to provide their directors and employees with certain “trivial” benefits in kind tax free. The rules were brought in as a simplification measure so that certain benefits in kind do not now need to be […]

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GIFTS TO CHARITY

Where possible higher rate taxpayers should “Gift Aid” any payments to charity to provide additional benefit to the charity and for the individual to obtain additional tax relief on the payment. For example, where an individual makes a £20 cash donation to charity, the charity is able to reclaim a further £5 from HMRC making […]

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