Press Room

Diary of main tax events March / April 2019

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Date What’s Due 1/03 Corporation tax payment for year to 31/5/18 (unless quarterly instalments apply) 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 […]

Specialist Tax News

Buy new equipment before 6 April?

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Your business year end, not 5 April, is relevant for capital allowances purposes. If however you are running a business and making up accounts to 31 March or 5 April, you should consider buying plant and machinery to take advantage of the Annual Investment Allowance (AIA).  Note that the AIA was increased from £200,000 to […]

Specialist Tax News

New workplace pension limits from 6 april 2019

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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 […]

Specialist Tax News

Year end capital tax planning

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Have you used your 2018/19 £11,700 annual capital gains exemption?  Consider selling shares where the gain is less than £11,700 before 6 April 2019. In addition, if you have any worthless shares, consider a negligible value claim to establish a capital loss. You may even be able to set off that capital loss against your […]

Specialist Tax News

Consider other tax efficient investments

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If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certain qualifying companies allow you to set off of 30% of the amount invested against your income tax bill as well as the ability to defer Capital Gains Tax (CGT) until the shares are sold. An even […]

Specialist Tax News

Have you used your 2018/19 ISA allowance?

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Your maximum annual investment in ISAs for 2018/19 is £20,000.  Your investment needs to be made before 6 April 2019.  In addition, have you thought about investing for your children or grandchildren by setting up a Junior ISA? In the 2018/19 tax year, you can invest £4,260 into a Junior ISA for any child under […]

Specialist Tax News

Year end pension planning

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For most taxpayers the maximum pension contribution is £40,000 each tax year, although this depends on their earnings. This limit covers both contributions by the individual and their employer. Note that the unused allowance for a particular tax year may be carried forward for three years and can be added to the relief for the […]

Specialist Tax News

Don’t lose your personal allowance!

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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 way that you could avoid […]

Blogs

Funding your small business start-up

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There have never been so many opportunities for entrepreneurs to choose from when looking for funding to start their new business. If you are ready to turn your ideas, expertise, and passions into a business, the next step is to put together a business plan. Business plans are important as they serve these two major […]