19 May 2016 - PAYE and NIC deductions due for month ended 5 May 2016. (If you pay your tax electronically the due date is 22 May 2016)
19 May 2016 - Filing deadline for the CIS300 monthly return for the month ended 5 May...
Read More...Under new rules, initially announced in the 2015 Budget, farmers will be able to average their profits for Income Tax purposes from two years to five...
Read More...Our government have selected their top-ten tax changes that come into effect from 6 April 2016. Just in case you need a refresher they are:
1.The personal allowance will increase to £11,000 and the higher rate threshold will...
Read More...Married couples and civil partners can gift each other assets and there will be no Inheritance Tax (IHT) charge on the lifetime gift as long as the recipient is domiciled in the UK.
However, transfers to others that are not...
Read More...When you reach the State Retirement Age (SRA) you stop paying Class 1 NIC contributions if you are employed, and Class 2 contributions if you are self-employed.
You will still have to pay Class 4 NIC, the most significant...
Read More...Recent reports in the national media have suggested that HMRC has sought to restrict Gift Aid on donations which are accompanied by a message of support from a donor’s family. According to a recent announcement by HMRC this is...
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If you sell an asset that is subject to CGT the rate of tax you will pay will be 0%, 18% or 28%.
In the current tax year 2015-16, you are allowed to make gains of up to £11,100 tax free. In fact the first...
Read More...From 1 December 2015, the advisory fuel rates have changed to:
1400cc or less: petrol 11p per mile, LPG 7p per mile
1401-2000cc: petrol 13p per mile, LPG 9p per mile
Over 2000cc: petrol 20p per mile, LPG 13p...
Read More...1 January 2016 - Due date for Corporation Tax due for the year ended 31 March 2015.
19 January 2016 - PAYE and NIC deductions due for month ended 5 January 2016. (If you pay your tax electronically the due date is 22 January...
Read More...The government has also published its intention to change a number of other tax reporting issues. Some of the more impactful for smaller businesses and Self Assessment tax payers are reproduced below:
