Have you Paid your Self-Assessment Tax Bill Yet?
If you have not yet paid your balancing payment of income tax due for the year ended 5 April 2018, (which was payable by 31 January 2019), a 5% penalty will be charged by HMRC if this liability is not paid in full by 30 days after the payment date. Late payment interest will also…Read More
Pre 5th April 2019-year-end tax planning tips
The tax year end is nearly here – 5th April. Now is a great time to review your financial and tax position to make sure you have made the most of the legitimate tax planning opportunities available to you. Here are a few quick things for you to think about: • Have you made the…Read More
Valentines Tax Benefits! – Saying ‘I do’
As couples around the UK are preparing for Valentine’s Day, those considering if it is the right time to pop the question, the ICAEW says that although it may not be the most romantic season to either propose, get married or enter a civil partnership it could have tax benefits. For example, wedding presents from…Read More
How to ease your security worries when it comes to Making Tax Digital!
Making Tax Digital is a crucial part of the government’s proposal to help make it easier for individuals and businesses to get their tax correct through online software and staying up to date on their affairs. From April 2019, businesses with a VAT threshold of £85,000 and over will be required to file their tax…Read More
Brighton Summit Blog: Looking Up for Cardens!
The theme for this year’s Brighton Summit was ‘Look Up’. In this blog, Victoria at Cardens explains what ‘Look Up’ meant for Cardens and her experience at the Summit. Another successful year at the Summit. Once again, an amazing experience! I had no doubt that this year wouldn’t be as great as last year. This…Read More
Banking with Tide and Cardens Accountants
If you enjoy waiting in queues, filling out paperwork and organising in-house meetings with your bank – Tide is not for you. If you’d like to save yourself time and money with your business banking, read on…. Tide aim to stop you wasting time on banking and admin and allow you to focus on what…Read More
Are you ready for GDPR?
What is the General Data Protection Regulation (GDPR) and do I need to worry about it? A recent survey shows the majority of businesses are unaware of the new ‘General Data Protection Regulation’ (GDPR) requirement that is likely to affect most UK based businesses. If you have not heard of GDPR or have little knowledge…Read More
Make the most of your tax allowances, review tax planning opportunities and get your tax return submitted early.
A new Tax Year brings a second chance to make New Year resolutions………… This tax year (2018/19), why not resolve to make the most of your tax allowances, review any tax planning opportunities, and get your tax return submitted early. Some ideas to help you achieve this include: Transfer income producing assets…Read More
Statutory Pay Increases – are you compliant?
From April 1st 2018 National Minimum Wage and National Living Wage increased. The government is increasing enforcement in this area and substantial financial penalties can be issued if you fail to meet the new legal requirements. Those aged over 25 on the National Living Wage now benefit from an increase of 4.4%,…Read More
Directors Salary From April 2018
From April 2018, we recommend directors take a monthly salary of £702. This salary ensures you receive a “qualifying year” of National Insurance Contributions towards your State Pension, but without the need to pay any contributions. This salary is also below your Personal Allowance of £11,850 for tax purposes. If you are taking a…Read More
The tax year end is nearly here – 5th April. Now is a great time to review your financial and tax position to make sure you have made the most of the legitimate tax planning opportunities available to you. Here are a few quick things for you to think about: Have you made…Read More
Annual Tax on Enveloped Dwellings (ATED) – latest update
The ATED regime is nothing new, in fact it has been around since April 2013. However, changes which come into effect from 1 April 2018 are likely to bring a lot more properties into the charge. The regime levies an annual tax charge on ‘non-natural persons’, i.e. companies and trusts, who own UK residential property…Read More
Be Ready For Auto-Enrolment
The government’s auto-enrolment pension rules are now being extended to small businesses. If you own a business employing one or more workers you will have to: Set up a workplace pension scheme that meets the new rules. Automatically enrol workers who meet the age & earnings criteria. Make a minimum contribution for all eligible workers.…Read More
Cardens FREE workshops
We will be holding a number of FREE workshops during 2018. The main focus of our workshops will be Tax Planning and Accounting Software. Generally workshops will be held in our Hove offices, in small groups, with an expert in the topic guiding you through what you need to know. There will be the opportunity…Read More
How To Make Your Self-Assessment Tax Payment To HM Revenue and Customs
HMRC are encouraging more taxpayers to make payments of tax electronically (online, BACS, CHAPS, Faster Payments or by telephone banking). By Card Online Go to https://www.gov.uk/pay-self-assessment-tax-bill and follow the instructions. The minimum payment you can make is £1 and the maximum is £99,999.99. To make a payment you need your: • Debit/*Credit card details; and…Read More