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You can give away £3,000 worth of tax efficient 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[…..]
Making Tax Digital is almost here. 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[…..]
Paying your Self-Assessment Tax bill is never enjoyable, and especially if you just don’t have the cash available. 31 January is the date by which any arrears of tax for 2017-18 need to be settled, together with a payment on account for 2018-19, if one is due. Those who have completed their tax returns for[…..]
Please note our offices are closed from the end of Friday 21st December 2018 and reopen on Wednesday 2nd January 2019.
Fake HMRC phishing scams continue to trick taxpayers into parting with their well-earned cash. The HMRC website contains the following helpful information to save you being caught … Email addresses HMRC will never send notifications by email about tax rebates or refunds. Do not: visit the website open any attachments disclose any personal or payment information A[…..]
Marriage Allowance lets you transfer £1,190 of your Personal Allowance to your husband, wife or civil partner – if they earn more than you. This reduces their tax by up to £238 in the tax year. To benefit from this arrangement, you (as the lower earner) must have an income below your Personal Allowance – this is[…..]
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