Enterprise Investment Scheme (EIS) Relief on investments in certain unquoted trading companies up to £1m per annum (£2m for knowledge intensive companies): • Income tax relief at 30% • Capital gains exemption on disposal Unlimited amounts of capital gain from the disposal of other assets may be able to be deferred by making an EIS […]
6/04 New workplace pension limits apply, 5% from the worker and 3% from the employer, an overall minimum of 8% of earnings 19/04 PAYE & NIC deductions, and CIS return and tax, for month to 5/04/19 (due 22/04 if you pay electronically) 1/05 Corporation tax payment for year to 31/7/18 (unless quarterly instalments apply) 19/05 […]
As noted in the March newsletter, the minimum contributions you and your employees put into your workplace pension increased on 6th April. It is your duty as an employer to ensure these increases are implemented. The table below shows the minimum contributions you must pay, but did you know your duties as an employer do […]
This new charge will apply to certain loans to directors and employees that are still outstanding at 5 April 2019 and new arrangements put in place after that date. The charge affects arrangements involving loans made via Employee Benefit Trusts (EBTs) and similar disguised remuneration schemes adjudged by HMRC and the courts to be tax […]
There is still uncertainty around what Brexit will mean and planning for a “No Deal” scenario seems sensible right now. Businesses that buy and sell from the EU should have contingency plans in place which will need to be flexible to cope with a variety of possible outcomes. If a ‘No Deal’ happens after March […]
The amounts that employers and workers will be required to pay into workplace pensions are due to increase from 6 April unless the worker opts out. The new limits will be 5% from the worker and 3% from the employer. The total minimum contribution will therefore increase from the current 5% overall to 8%. In […]
Arrangements have been announced by the government regarding the movement of goods to and from the EU. A simplified import and export system has been implemented by HMRC – in the event of a ‘no deal’ scenario – as a mechanism to ensure that goods move to and from the UK, with a reduced administrative […]
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 […]
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 […]
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 […]
