News


Auto-enrolment qualifying earnings band figures for tax year 2019/20 confirmed
22/01/2019
The draft Automatic Enrolment (Earnings Trigger and Qualifying Earnings Band) Order 2019 has now been published. As expected, it freezes the earnings trigger, which determines when an eligible worker is entitled to be automatically enrolled into a qualifying workplace pension scheme, at £10,000 from 6 April 2019. It also continues to Read more...


Statutory payment rates for tax year 2019/20 confirmed
22/01/2019
The following statutory payment rates are confirmed: The standard weekly rates of Statutory Adoption Pay (SAP), Statutory Paternity Pay (SPP) and Statutory Shared Parental Pay (ShPP) will increase from £145.18 to £148.68 from 1 April 2019. The weekly rate of Statutory Sick Pay (SSP) will increase from £92.05 to £94.25 from 6 April 2019 Read more...


EU Settlement Scheme fee is to be scrapped
22/01/2019
The Prime Minister has announced in a speech to the House of Commons that the £65 fee for applications made by EU citizens under the EU Settlement Scheme is to be waived. The scheme is due to be rolled out in full on 30 March 2019 and at that stage there will be no fee charged. Currently, the scheme is in a public pilot test phase Read more...


Don’t overclaim for equipment purchases
16/01/2019
You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax relief for qualifying expenditure on plant and machinery. The allowance is available for most assets purchased by a business but does not apply to cars. The AIA was set at £200,000 per calendar year for all qualifying expenditure on or after 1 Read more...


Reducing payments on account
16/01/2019
Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on: 31 January during the tax year e.g. for 2018-19 the first payment on account is due on 31 January 2019. 31 July following the tax year e.g. for 2018-19 the second payment on account is due on 31 July Read more...


Could you claim the Marriage Allowance?
16/01/2019
If you or your partner are a low earner or not working, then you may be eligible for the marriage allowance. The marriage allowance allows lower earning couples to share part of their personal tax-free allowance. The marriage allowance (MA) is available to married couples and those in a civil partnership where a spouse or civil partner Read more...


Carry back charitable contributions
16/01/2019
Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a proper record of all donations to backup tax return entries. Donations that are made through the Gift Aid scheme allow for the recipient charity to claim 25p worth of tax relief on every pound donated. Higher rate and additional rate Read more...


Remaining age related tax allowances
16/01/2019
Most age related tax allowances have been phased out. However, the Married Couple's Allowance (MCA) is available to elderly married couples or those in a civil partnership where at least one member of the couple were born before 6 April 1935. The allowance provides for tax relief by deducting 10% of the allowance from the amount of tax Read more...


Tax if clients leave the UK to live abroad
16/01/2019
The P85 form should be completed by individuals or their agents to advise HMRC that have left the UK to live or are going to work abroad for at least one full tax year. The completion of the P85 form will ensure that an individual leaving the UK can claim any tax refund they are entitled to and will also help HMRC decide how an Read more...


Automatic enrolment for the self-employed?
09/01/2019
The government has confirmed that they are to examine a number of different approaches to help encourage the self-employed to save for their retirement. The success of automatic enrolment for pension savings for the employed has helped highlight that pension savings for the self-employed are lagging behind those achieved for the employed. Read more...