Join Cardens Accountants and Dean WIlson Solicitors LLP to gain sound knowledge of Inheritance Tax planning opportunities to benefit your family. We believe that Inheritance Tax is one of the most punitive taxes affecting families in the UK. If you have made wise financial choices and you would like to hand over your assets to…Read More
HMRC has issued guidance for UK taxpayers on how to settle an outstanding debt with a time to pay arrangement. If you’re worried about paying an outstanding debt to HMRC but don’t have the funds to do so, you can consider a flexible time to pay arrangement that is based on your specific financial circumstances.…Read More
The 2020 national minimum wage (NMW) will increase to £8.72 per hour for employees aged 25 and over from April, in what is being described as the biggest cash boost ever for British workers. Estimates suggest that 3 million UK workers on the NMW are set to benefit, with a full-time worker receiving up to…Read More
As the UK counts down to our EU departure on 31 January, post Brexit VAT has become a huge issue for business. This quick guide covers our VAT arrangements with the EU now, what is likely to happen, and the steps businesses should be taking now. VAT rules before January 31 Businesses trading with…Read More
The tax year end is nearly here – 5th April. Now is the time to review your financial and tax position to make the most of the legitimate year-end tax planning opportunities. Year-End Tax Planning Tips Here are a few things for you to factor into your plans: ISA Allowances Have you made the most…Read More
The race is on to complete your self-assessment tax return. If you haven’t done so yet, the clock is ticking! According to data from the 2017-2018 tax year, 730,000 of you may file on the deadline day itself: 31 January. We advise that you get around to filing as soon as possible so that if…Read More
The difference between tax avoidance and tax evasion substantially comes down to legality. As it currently stands, simply avoiding tax is perfectly legal, but crossing the line into evading tax can result to hefty fines and prosecution, and it is very easy for the former to turn into the latter. What is tax avoidance? Tax…Read More
IR35 by laura_comben89 What is IR35? IR35 also known as ‘The Intermediaries Legislation’ or ‘Off Payroll Working’ is nothing new, in fact, it has been around since 2000. The core aim of the legislation was, and still is, to remove the tax advantages arising from an individual contractor providing services via a limited company, rather…Read More
Why we love Cloud Accounting As a business owner you probably hear a lot of people raving about the “cloud”. Ever wonder if it’s something your business should be using? The cloud is completely changing how accountants work with their clients. So, I thought this would be a great topic to chat about here. Cloud…Read More
Who will CSDSC affect? CSDSC will affect Individuals, Partnerships or Company’s supplying certain construction industry services to a VAT registered customer. Which supplies are affected? The new rules only apply to “construction services”. The definition is the same as that used in the Construction Industry Scheme (“CIS”). It should be familiar to most businesses operating…Read More
Did you know that Inheritance Tax can cost families hundreds of thousands of pounds? However, with careful financial planning, this can be reduced significantly or avoided altogether. What is Inheritance Tax? When someone passes away, the value of their estate is calculated, which includes all savings, investments and property. Inheritances which are between married couples…Read More
How do I pay the tax owed? You will not automatically be issued with a payslip by HMRC in advance of the payment dates on 31 January and 31 July. If you do not receive a payslip you should organise payment anyway otherwise you might incur a fine for late payment and not receiving a…Read More
Your client must remember that employees do not have the statutory right to time off on a Bank Holiday. Therefore, if your client’s contracts require individuals to work on Bank Holidays they can continue to enforce this, providing they guarantee enough time off in lieu (TOIL) to abide by the statutory annual leave requirements. A…Read More
HMRC has deployed new defensive controls to protect abuse of its phone lines in a bid to put an end to fraudster’s spoofing the tax authority’s most recognisable helpline numbers. The controls, created in partnership with the telecommunications industry and Ofcom, will prevent spoofing of HMRC’s most used inbound helpline numbers and are the first…Read More
A quarter of cases on the HMRC’s major defaulters’ list come from this sector with restaurants and takeaways making up 26% (200 of 775) of businesses ‘named and shamed’ by HMRC as ‘deliberate tax defaulters’ since the start of the publication of quarterly lists in December 2017. Recent examples include a Chinese takeaway business from…Read More
