Some tax reference numbers change each year or period, and others remain the same. So, find below a helpful guide to which references for which taxes will remain the same and which one’s you need to be aware may change: 1. Easy One’s First – Remains the Same: Personal Tax: This is always your UTR…Read More
Despite HMRC’s campaign to target underpayments of tax due on rental properties, less than 3% of estimated eligible landlords have used the let property disclosure facility, according to data from Saffery Champness, which is warning that property taxation is likely to see a greater focus as landlords come under scrutiny over their tax compliance. In…Read More
Cardens discuss five of the most frequently asked questions about payslip changes effective from 6 April 2019. 1. Who will the new payslip changes affect? The difference between an employee and a worker becomes important here. An employee is someone who works for you and has a contract of employment. Instead, you might draft in…Read More
From April 2019, we recommend directors take a monthly salary of £719. 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 £12,500 for tax purposes. If you are taking a directors…Read More
The scammers are targeting self-assessment taxpayers by email and phone, claiming they are entitled to tax refunds and asking for bank details to transfer the money. This has come just a few weeks after the self-assessment tax returns deadline on 31 January. The scam phishing emails are being sent from verio.net domain names which contain…Read More
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
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
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
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
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
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
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
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
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
