How to cope with recession
February 5th, 2019

Recession literally means “the act of going back, of receding…” Economic pundits have hijacked the word to mean “a period of temporary economic decline during which trade and industrial activity are reduced…”. It is usually heralded by a fall in Gross Domestic Product (GDP). According to many commentators on the state of the UK economy […]

Tax Diary February/March 2019
February 4th, 2019

1 February 2019 – Due date for Corporation Tax payable for the year ended 30 April 2018. 19 February 2019 – PAYE and NIC deductions due for month ended 5 February 2019. (If you pay your tax electronically the due date is 22 February 2019) 19 February 2019 – Filing deadline for the CIS300 monthly […]

What can you give away before the end of the tax year?
February 4th, 2019

You can give away £3,000 worth of gifts each tax year (6 April to 5 April) without them being added to the value of your estate. This is known as your ‘annual exemption’. You can carry any unused annual exemption forward to the next year – but only for one year. Each tax year, you […]

What is the government doing to prepare us for Brexit?
February 4th, 2019

According to a recent announcement on the GOV.UK website, preparations include: Recruitment of 700 new staff to work on EU Exit policy using additional funding allocated by HM Treasury for Brexit preparedness. Passing of new legislation to lay the groundwork for our future outside the EU with 57 out of 63 required statutory instruments required […]

Are you ready for the VAT filing changes?
February 4th, 2019

A reminder that from 1 April 2019, VAT registered traders with turnover in excess of the current VAT registration limit, £85,000, will need to file returns after 1 April 2019 linked to HMRC’s Making Tax Digital (MTD) systems. Accounts software providers have been working at some pace to change their software, so they “speak” to […]

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