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Tax Planning (Year-End 5/4/2021)

Introduction: As the tax year ends in these uncertain times (5/4/2021). We are presenting you with tax planning opportunities and pitfalls advices (written or verbal) for both individuals and businesses as well as dealing with issues around COVID-19 in modules as follows: Tax advice for individuals:  Changes in personal circumstancesInternational issues Transferring wealth Issues for employees Minimising tax liabilities Savings and investments and Real estate. Tax a...

April 6, 2021

Tax dates and return deadlines for the tax year 2020/21

Knowing the important deadlines in the last tax year started on 6 April 2020 and ended on 5 April 2021 will help you to prepare and send off the main forms in good time. You may have a range of obligations for corporation tax, PAYE, self-assessment, VAT, National Insurance contributions (NICs) and the Companies House annual confirmation. As well as preparing for the tax year end, you need to deal with a variety of regular payments and filings. When necessary, you should take professional advice....

April 5, 2021

COVID-19 Related Issues

Introduction: The UK, Scottish and Welsh Governments and the Northern Ireland Executive have announced a wide range of measures to support businesses that are experiencing difficulties due to COVID-19. The support that is available depends on the particular circumstances; for example, the sector in which the business operates. details of support can be found at website. We had also put together tax planning opportunities and pitfalls relating to COVID-19 for your particular circ...

April 1, 2021

IR35 (Off-payroll rules from 6th April 2021)

If you’re not directly employed by your client in a traditional sense, but you use an intermediary (such as a Limited Company) to provide your services, the intermediaries’ legislation – known as ‘IR35’ – may apply to you. Broadly, an engagement will fall within the new IR35 rules for payments made for services provided on or after 6 April 2021, where: a worker is personally providing services to a public sector or medium/large private sector end user via their own intermed...

March 31, 2021

Company Formation Privacy

What addresses are recorded by Companies House when you register a company?When forming a private limited company in the UK you are required to provide personal information for the directors of the company and declare the registered address of the business.Some of this information is held securely on Companies House records and only accessible by official government departments and authorised organisations.However other details are readily available to the general public and can be accessed by s...

May 29, 2019

PAYE healthcheck

A PAYE healthcheck is a review of an employer’s payroll and benefit procedures to ensure that they are delivering the right results in terms of compliance with HMRC’s rules on tax and NIC on employees’ pay, expenses and benefits. It is designed to minimise the risk of interest and penalties and to improve compliance.Some organisations shy away from the idea of having a PAYE / NIC risk review as it is often seen as being an unnecessary cost. Other organisations take the view that if there a...

April 26, 2019

HMRC enquiries: Which records to keep private

Any taxpayer who submits a tax return can be selected for an HM Revenue and Customs (HMRC) enquiry at random. Those taxpayers unfortunate enough to be selected may find HMRC’s tax return enquiries rather obtrusive. Is HMRC entitled to see a self-employed taxpayer’s private records, and if so, to what extent? ...

February 14, 2019

Cash basis for landlords – when does it apply?

The cash basis simply takes account of money in and money out – there is no need to worry about debtors and creditors and prepayments and accruals. Income is recognised when received and expenditure is recognised when paid. Since 6 April 2017, the cash basis has been the default basis for eligible landlords. An eligible landlord is one in respect of whom none of the tests A to E below is met....

January 18, 2019

Inheritance tax – making tax-free gifts

There are various exemptions, and potential exemptions, which make it possible to make gifts free of inheritance tax. Making tax-free gifts is a useful way to reduce the value of your estate – and ultimately the inheritance tax that may be payable on gifts....

January 15, 2019

Budget 2018 in 24 Bullet Points

1. Public Finances - Turning PointSince 2009-2010 the deficit has fallen by four-fifths, from 9.9% to 1.9%. Public debt peaked in 2016-17 and is now falling. On average, spending on public services will grow 1.2% above inflation a year from next year until 2023-24. 2. Employment Growth and OBR forecastsThe economy has grown every year since 2010, and is projected to continue growing in each year of the forecast. The unemployment rate is at its lowest for over 40 years, there are over 3.3 million...

November 8, 2018 Posts 1-10 of 10 | Page

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