Tax planning options 2016-17

There are just two months left before the end of the 2016-17 tax year. Those tax payers who have income from business or property sources, and have not yet considered their tax planning options for 2016-17, should do so as soon as possible. Most tax planning options expire at the Read more…

Affected by severe weather or flooding

It is unfortunate that HMRC have designated the 31 January as the filing deadline for self-assessment purposes as we are more likely to be adversely affected by extreme weather events at this time of the year. There are not many businesses that can continue to trade if their premises, equipment Read more…

More funding available to rural businesses

£120 million of funding is to be made available to support farmers, grow businesses, and generate thousands of jobs in rural communities. This announcement was made by the Environment Secretary, Andrea Leadsom, earlier this month at the Oxford Farming Conference. Funding to be released will include further support for the Read more…

Tax Diary January/February 2017

1 January 2017 – Due date for corporation tax due for the year ended 31 March 2016. 19 January 2017 – PAYE and NIC deductions due for month ended 5 January 2017. (If you pay your tax electronically the due date is 22 January 2017) 19 January 2017 – Filing Read more…

Capital gains tax planning 2016-17

This is also an appropriate time of the year to consider your CGT position if you have already disposed of (or are considering a disposal) of an asset subject to CGT during 2016-17. Most of our readers will be aware that they can make chargeable gains of up to £11,100 Read more…

Three months to go

All UK taxpayers may benefit from pausing, taking a deep breath, and considering their planning options as we approach the run-up to yet another tax year end. Individuals The prime areas for consideration are where income levels are threatening to break through into the higher rates of income tax. For Read more…

Two items on our watch list for 2017

Whilst it is never easy to double guess future changes in our tax system there are already changes afoot, some included in past legislation, and some promised by prior announcement. Two items are worthy of a new year’s underline. Firstly, buy to let landlords that have borrowed heavily to build Read more…