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Tax Tips and News

Tax & Financial Strategies Guide 2019-20

This guide is designed to help you to make the most of your business and your personal finances, by highlighting the main tax allowances & incentives and suggesting strategies that you might wish to incorporate into your own financial planning.

We would welcome the opportunity to assist you. Download PDF.

  • Loan charge repayments deferred

    Newsletter issue - February 2020. In September 2019, the government commissioned Sir Amyas Morse to conduct an independent review of the loan charge (the review). The review was published on 20 December 2019 along with the government's response, which confirmed that it would accept all but one of the review's recommendations. The main change is…Read More

  • CGT on cryptoassets

    Newsletter issue - February 2020. Cryptoassets are a relatively new type of asset that have become more prevalent in recent years. New technology has led to cryptoassets being created in a wide range of forms and for various different uses. Cryptoassets (or 'cryptocurrency' as they are also known) are cryptographically secured digital representations of value…Read More

  • Increased NMW rates from April 2020

    Newsletter issue - February 2020. Some three million workers are set to benefit from increases to the National Living Wage (NLW) and minimum wage rates for younger workers from 1 April 2020. The compulsory NLW is the national rate set for people aged 25 and over. The NLW is enforced by HMRC alongside the national…Read More

  • VAT and Brexit

    Newsletter issue - February 2020. HMRC have not yet issued any guidance as to how imports from, and exports to, EU and non-EU countries should be recorded for VAT return purposes after 31 January 2020, what happens with the reverse charge, and what should be recorded in boxes 8 & 9 of the VAT return.…Read More

  • February questions and answers

    Newsletter issue - February 2020. Q. What items can be excluded from 'taxable turnover' for VAT registration purposes? A. When the 'taxable turnover' of a business reaches the VAT registration threshold, currently £85,000 per annum, it must register for VAT. Income that is not counted as 'taxable turnover' is excluded from the £85,000 turnover figure.…Read More

  • February Key tax dates

    Newsletter issue - February 2020. 2 - Last day for car change notifications in the quarter to 5 January - Use P46 Car 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/2/2020 28 - First 5% penalty surcharge on any 2018/19 outstanding tax due on 31 January 2020 still unpaidRead More

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