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22/03/2019

March 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.

HMRC reaffirm income tax charge on winding up
HMRC have published Spotlight 47, which provides guidance on tax avoidance schemes that try to avoid the income tax charge on distributions when a company is being wound up. Read More...
 
Checking directors' expenses
As 31 March approaches, many companies will be getting ready to tie up tax matters for their financial year-end. Now is a time to ensure that everything is in order regarding directors' expenses and review loan account record-keeping procedures. Read More...
 
Voluntary disclosures
HMRC have updated their online guidance on disclosing unpaid tax to include information on authorising an agent to deal with a disclosure made through the Digital Disclosure Service (DDS). The DDS gives individuals and companies a chance to bring Read More...
 
Spring Statement 2019
Chancellor Philip Hammond has delivered his 2019 Spring Statement to the House of Commons. A supporting Written Ministerial Statement (WMS) provides more detail on some of the announcements in the Spring Statement. Read More...
 
Employer responsibilities for tips
The tax and NIC treatment of tips will depend on how they are paid to the recipient. Cash tips handed to an employee, or say, left on the table at a restaurant and retained by the employee, are not subject to tax and NICs under PAYE Read More...
 
March questions and answers
Q. My wife and I own various assets - some are held in individual names and others are held jointly. We are wondering whether we should 'equalise' the value of our assets so as to reduce potential liability to capital gains tax at a future date. Read More...
 
March key tax dates
13 - Spring Statement 2019 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/3/2019 Read More...
 
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