Accounting News

Employer Childcare Vouchers v Government Scheme

Employer Childcare Vouchers v Government Scheme

Employees who joined their employer’s childcare voucher or employer-supported childcare scheme before 4 October 2018 can remain in that scheme and benefit from the associated tax relief for as long as the employer continues to offer it. However, this may...

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Employees: Tax-Free Benefits To Keep Them Healthy

Employees: Tax-Free Benefits To Keep Them Healthy

More than 25 million working days are lost annually due to work-related ill health matters, including the two leading causes of workplace absence, namely back injuries and stress, depression or anxiety. There are however, several areas where employers can use...

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Buy New Equipment Before 6 April!

Buy New Equipment Before 6 April!

Your business year end, not 5 April, is relevant for capital allowances purposes. If however you are running a business and making up accounts to 31 March or 5 April, you should consider buying plant and machinery to take advantage...

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New Workplace Pension Limits From 6 April 2019

New Workplace Pension Limits From 6 April 2019

The amounts that employers and workers will be required to pay into workplace pensions are due to increase from 6 April unless the worker opts out. The new limits will be 5% from the worker and 3% from the employer....

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Year End Capital Tax Planning

Year End Capital Tax Planning

Have you used your 2018/19 £11,700 annual capital gains exemption? Consider selling shares where the gain is less than £11,700 before 6 April 2019. In addition, if you have any worthless shares, consider a negligible value claim to establish a...

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Consider other Tax Efficient Investments

Consider other Tax Efficient Investments

If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certain qualifying companies allow you to set off of 30% of the amount invested against your income tax bill as well as...

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Have You Used Your 2018/19 ISA Allowance?

Have You Used Your 2018/19 ISA Allowance?

Your maximum annual investment in ISA's for 2018/19 is £20,000. Your investment needs to be made before 6 April 2019. In addition, have you thought about investing for your children or grandchildren by setting up a Junior ISA? In the...

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Don’t Lose Your Personal Allowance!

Don’t Lose Your Personal Allowance!

For every £2 that your adjusted net income exceeds £100,000 the £11,850 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%. The restriction...

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Making Tax Digital – Are You Ready For It?

Making Tax Digital – Are You Ready For It?

Making Tax Digital (MTD) is a major overhaul of the UK tax system. Originally announced during the 2015 Budget, MTD is a new method of tax collection and administration from HMRC which, from 1 April 2019, will require businesses who...

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