Yearly Archives: 2019

Still time to file your tax returns

The deadline to file your 2018-19 tax returns is fast approaching, the 31 January 2020. Most of our clients will have the reassurance that we have filed their returns online, but for those who still need to file their 2019 return, it’s time to get into action. If you file after 31 January 2020 late...

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Too little, too late?

On 13th December, the Department for Business, Energy and Industrial Strategy in collaboration with Office for Product Safety and Standards, issued a cautionary warning to consumers buying toys this Christmas.

Leaving aside the late publication of this information – not all of us are last-minute shoppers - it is worth reproducing the twelve points that make...

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An end to uncertainty

Whatever your political motivation most of us will be relieved that last week’s election has created a government with a working majority. At last, there is a light at the end of the uncertainty tunnel.

Brexit

Business readers with any sort of trading platform with the EU need to dot the i’s and cross their t’s regarding...

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Land Registry property alert service

Property owners are potentially more at risk from the activities of fraudsters. They have more to lose and there are very real risks that the Land Registry property alert service is set up to counter.

Why consider this service?

Since 2009, HM Land Registry has prevented 254 fraudulent applications being registered by fraudsters. Common attempts to "steal"...

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What constitutes profit for tax purposes?

There is no simple answer to this question. We have listed below some of the matters that need to be are considered. As self-employed business owners’ profits are subject to income tax and National Insurance - and limited companies to corporation tax - we have divided our comments accordingly.

Before making this distinction it is important...

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Tax Diary December 2019/January 2020

1 December 2019 - Due date for Corporation Tax payable for the year ended 28 February 2019.

19 December 2019 - PAYE and NIC deductions due for month ended 5 December 2019. (If you pay your tax electronically the due date is 22 December 2019)

19 December 2019 - Filing deadline for the CIS300 monthly return for...

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Obtain proof of employment history

If you need evidence of employment for a claim, the following notes published by HMRC may help.

You can ask HMRC for a record of your employment history, for example if you are making a compensation claim for:

  • an industrial injury (for example asbestosis or industrial deafness)
  • a road traffic accident
  • medical negligence
  • hardship (for example you’re claiming through a...
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Christmas gifts

You don’t have to pay tax on a benefit (gift) to your employee if all of the following apply:

  • it cost you £50 or less to provide
  • it isn’t cash or a cash voucher
  • it isn’t a reward for their work or performance
  • it isn’t in the terms of their contract

Gifts that fall into this category are known as...

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Flood support

The government announced 13 November that it will extend its Farming Recovery Fund to support farmers badly affected by the recent flooding across Yorkshire and the Midlands. Through this scheme, farmers and land managers who have suffered uninsurable damage to their property will be able to apply for grants of between £500 and £25,000 to...

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Time is running out for tax planning 2019-20

A reminder that in just a few months the present tax year closes, 5 April 2020.

After this date, a whole raft of 2019-20 tax planning options for individuals will cease to be available.

These cover a multitude of opportunities to reduce your liability to Income Tax, Capital Gains Tax and National Insurance. These opportunities include, but...

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