Individual’s 2018/19 income tax, CGT, class 2 and 4 NIC liabilities should have been paid by 31 January 2020. Note that if the balance is still unpaid at the end of February 2020 a 5% surcharge penalty is added in addition to the normal interest charge unless a time to pay arrangement has been agreed […]
There have been many stories in the press about GPs and senior hospital doctors refusing to take on extra shifts and additional responsibilities due to the additional tax they are required to pay on the extra pension contributions paid by the NHS. A number of solutions have been put forward. There are now strong rumours […]
The independent loan charge review, conducted by Sir Amyas Morse, was published on 20 December, having been delayed due to the general election. The loan charge was introduced to collect tax from individuals who had benefited from schemes devised to avoid PAYE and national insurance. The date that the loan was made to the individual […]
Following the Conservative Party’s win and a budget date now set for 11 March, the tax changes in the draft Finance Bill scheduled to take effect from April 2020 are now more likely to go ahead. The key tax measures “in limbo” until legislated in Finance Act 2020 are: – Extending the “off-payroll” working rules to […]
The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers that means more tax to pay on dividends on 31 January each year. If you are a higher rate taxpayer and received […]
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 […]
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 […]
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 […]
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 December 2019. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 12p 8p 1600cc or less 9p (10p) 1401cc to 2000cc 14p 9p (10p) 1601 to 2000cc […]
19/12/19 PAYE & NIC deductions, and CIS return and tax, for month to 5/12/19 (due 22/12 if you pay electronically) 30/12/19 Deadline for filing 2018/19 tax return online in order to request that HMRC collect outstanding tax via the 2020/21 PAYE code 1/1/20 Corporation tax for year to 31/03/2019 unless quarterly instalments […]
