The Pensions Regulator has warned small businesses that they risk being issued with a penalty for failing to meet their obligations to provide a workplace pension. He has emphasised that if a firm has a registered PAYE scheme then it will receive a letter informing them of a staging date even if they have no … Continue reading Workplace Pension Penalty Warnings →

There are a number of major changes to taxation from April of which we are already aware. There are major changes to the taxation of dividends. From 6th April each individual will: receive a tax-free dividend allowance of £5,000 in addition to their personal allowance, and all dividends above £5,000 will be taxed at 7.5% … Continue reading Planning for 2016/17 and April changes in Taxation →

As we approach end of the current tax year on 5th April it is time to consider whether there are any tax savings to be made. A few suggestions follow: Transfer Personal Allowance We have included in a separate article how, under certain circumstances, you can save £212 very simply by transferring unused allowances to … Continue reading End of Year Financial Planning →

OK, so it doesn’t apply to everyone but if you fulfil the criteria then it is a very simple process for someone to transfer £1,060 of their unused personal allowance to their spouse or civil partner. The criteria are fairly straightforward: The relevant couple must be married or in a legally registered civil partnership. One … Continue reading How to save tax of £212 in one easy lesson →

The 31st January deadline for submitting your tax return has now passed and I am pleased to say that the vast majority of our clients submitted their returns by the due date. But anyone who has received a notice to submit a tax return but has not yet done so must act quickly to avoid … Continue reading Late Tax Returns and/or Late Tax Payment →