Tax Tips and News

A Simple Guide To The Budget 2020

Mar 14, 2020 | Tax Planning

Dividend allowance The tax-free dividend allowance is unchanged at £2,000. Corporation tax The corporation tax rate will remain at 19%. Annual investment allowance Companies will be able to claim...

Don’t forget to make tax efficient investments ahead of the tax year end

Mar 12, 2020 | Tax Planning

With the end of the tax year looming there is still time to save tax for 2019/20. Make full use of your ISA allowance - ISAs can offer a useful tax free way to save, whether this is for your...

Minimum Wage Increases

Mar 10, 2020 | Tax Planning

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW...

Review confirms off-payroll working rules to go ahead from April 2020

Mar 7, 2020 | Tax Planning

The government has confirmed that reforms to off-payroll working rules for the private sector will go ahead from 6 April 2020. The off-payroll rules have applied to the public sector since 2017 and...

Coronavirus measure: Statutory Sick Pay from ‘day one’

Mar 6, 2020 | Tax Planning

The Prime Minister, Boris Johnson, has announced that employees will be entitled to Statutory Sick Pay (SSP) from day one when self-isolating rather than having to wait until day four under the SSP...

What to do if you need to change your tax return

Feb 18, 2020 | Tax Planning

You made it and filed your self-assessment return for 2018/19 by the 31 January 2020. However, having felt pleased with yourself, you realise to your horror that you have made a mistake and need to...

Incidental overnight expenses

Feb 1, 2020 | Tax Planning

A tax exemption enables an employer to meet small personal expenses when an employee stays away from home for work, without the employee suffering a tax charge and without any need to report the...

Making the most of pension tax allowances

Feb 1, 2020 | Pensions, Tax Planning

Pension savings can be tax efficient as contributions to registered pension schemes, attracting tax relief up to certain limits. Limit on tax relief Tax relief is available on private pension...