Tax Tips and News

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07/12/2019

December Tax Tips and News

Welcome to Sephton’s monthly newsletter. Here, you’ll find all our latest tax tips as well as the news that’s affecting our clients. If you scroll down the page, you’ll see you have access to the complete archive too. We’re committed to making sure our clients receive useful advice and support throughout the year.

If you need further assistance though, please get in touch using the details on the ‘contact’ page. We’re happy to help.

Tax-free Christmas parties
Whilst the tax legislation does not include a specific allowance for an employer providing a Christmas party for employees,HMRC do allow limited tax relief against the cost of holding a social function for employees, Read More...
 
Proposals to pay doctors’ pension tax bills: update
In an attempt to encourage working overtime shifts, doctors have been promised that their tax bills for higher rate pension relief will be covered by the NHS. This development follows the refusal by doctors to work overtime because of tax penalties receiv Read More...
 
Should I register for VAT?
In broad terms, and subject to certain exceptions, a business will be required to register to charge and pay VAT once annual sales reach a pre-set annual threshold, which is currently £85,000. This threshold is determined by total sales and is not t Read More...
 
Should I incorporate my business?
As things currently stand, the expected cut in the main rate of corporation tax to 17% from April 2020 is unlikely to happen, but current corporation tax rates remain pretty favourable. There are also other areas where company formation may help save tax. Read More...
 
December questions and answers
Q. Do all assets qualify for the capital allowances Annual Investment Allowance? Read More...
 
December Key tax dates
19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/12/2019 Read More...
 
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