Entries by Sara Lathwood

Grandparents could be eligible for parental leave from 2018

It’s a long way off but the time does fly!   Shared parental leave (SPL) and pay is to be extended to working grandparents, Chancellor George Osborne has announced.   A consultation is scheduled for 2016 where the policy, intended to give parents more flexibility during a child’s first year, is expected to be implemented […]

Making the most of the Annual Investment Allowance

If you are considering investing a considerable amount in plant and machinery, it’s worth considering the tax implications first. The annual investment allowance (the amount of capital expenditure you can write off against your tax able profits in the period they are purchased) is set to reduce from £500,000 to £200,000 per annum on 1 […]

Office refit needn’t be taxing

Organising and managing an office refit out comes with a long list of ‘to-dos’ and one thing to take into consideration is the tax relief opportunities that may be available.  If there’s an opportunity to offset these costs, you are likely to want to do as much as you can to benefit from it.   […]

Do you pay professional fees and subscriptions?

When paying any professional fees or subscriptions to professional bodies on behalf of your employees, check that your organisation is among those which receive tax relief from HMRC.   This can be checked on the approved professional organisations and learned societies list found on HMRC’s website as follows: https://www.gov.uk/government/publications/professional-organisations-approval-for-tax-relief-application   Form P356 should be used […]

Childcare changes on the horizon

There are many changes on the horizon concerning childcare, including: Childcare allowance being increased from 15 to 30 hours a week; Salary sacrifice Childcare Vouchers (CCVs) are due to be abolished; Tax credits are being revised; and Tax-Free Childcare (TFC) is due to be introduced.   CCVs and TFC Employers may see lower productivity and […]

Keeping your money safe – avoid identity theft

Experian’s expertise and insight on data security, in a report published recently, has highlighted a gender imbalance. Men are now victims in two out of three ID thefts (63%) across all financial product applications. The report tells us that criminals making bogus current account applications have been targeting men aged between 50 and 59 (up […]

Farmers’ Averaging

It is a long time since a government has brought in special legislation for farmers therefore it would be very welcome news that in response to lobbying by the NFU and others that the special rules for farmers’ averaging would be reviewed.   It has been suggested that the period over which self-employed farmers can […]

Paper self assessment returns

If you are a taxpayer and intend on submitting a paper Self Assessment return, then please take note that the deadline for submitting the 2014-15 return is 31 October 2015. If you submit it late then you will be liable to a £100 late filing penalty. The penalty will apply even if there is no liability […]

Your tax return need not be scary

You are probably aware or should be, that your 2014-2015 tax return, if submitted electronically, needs to be submitted by 31 January 2016. It may seem far away but it’s only 3 months away and time flies. However paper based returns need to be submitted by 31 October! Your liability of taxes needs to be […]

Vehicle Excise Duty

George Osborne, Chancellor of the Exchequer, delivered some major changes relating to Vehicle Excise Duty that will come into effect in the coming year: the way Vehicle Excise Duty (VED) is calculated and spent; new bands of VED; and extending the deadline for the first MOT on new cars and motorcycles. The way VED is […]