Tax tips and news
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Employers must plan ahead for EA restriction
Newsletter issue - September 2019. The Employment Allowance (EA) is a valuable relief, particularly for small businesses as it potentially cuts the business's national insurance contributions (NIC) bill by allowing a pre-set annual amount to be offset against PAYE NIC costs. The current limit is £3,000, and it is widely available to most employers. However,…Read More
Tax cuts coming for zero emissions vehicles
Newsletter issue - September 2019. Significant changes to the tax rules governing zero emissions company cars will take effect from 6 April 2020, potentially making an electric car a more attractive option. The tax rules for calculating the taxable benefit arising on a car are not changing - this will still be calculated (broadly) using…Read More
Parking for rent?
Newsletter issue - September 2019.Finding a parking space in a town centre or near to the station is often frustratingly limited. So, if you have a driveway, field or land that can be utilised for parking, you may well have an excellent opportunity to earn some extra tax-free income. Two new allowances - each set…Read More
HMRC 2018-19 Annual report published
Newsletter issue - September 2019.The National Audit Office has published a report on HMRC's 2018-19 accounts. The report shows that HMRC raised £627.98bn of tax revenues during 2018-19, an increase of £22.1bn (3.6%) on 2017-18. Of this total, around £250bn was paid in PAYE and National Insurance. Currently, around 5.7m small businesses represent more than…Read More
September questions and answers
Newsletter issue - September 2019. Q. I am a qualified chiropractor and I have been running my own business for many years. I would now like to specialise in a particular area and have enrolled on a university course to obtain the relevant qualification. The cost is around £18,000 per annum and the course is…Read More
September Key tax dates
Newsletter issue - September 2019.19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/9/2019Read More