Tax Diary February/March 2019

1 February 2019 – Due date for Corporation Tax payable for the year ended 30 April 2018. 19 February 2019 – PAYE and NIC deductions due for month ended 5 February 2019. (If you pay your tax electronically the due date is 22 February 2019) 19 February 2019 – Filing deadline for the CIS300 monthly […]

What can you give away before the end of the tax year?

You can give away £3,000 worth of gifts each tax year (6 April to 5 April) without them being added to the value of your estate. This is known as your ‘annual exemption’. You can carry any unused annual exemption forward to the next year – but only for one year. Each tax year, you […]

Are you ready for the VAT filing changes?

A reminder that from 1 April 2019, VAT registered traders with turnover in excess of the current VAT registration limit, £85,000, will need to file returns after 1 April 2019 linked to HMRC’s Making Tax Digital (MTD) systems. Accounts software providers have been working at some pace to change their software, so they “speak” to […]

What are your tax planning options for 2018-19?

Options for adopting 99% of tax planning opportunities for 2018-19 ends on 5 April 2019, just a couple of months away. This applies equally to individuals and all businesses with an accounting year end close to, but prior to 5 April 2019. More importantly, this planning option applies to all taxes: Income Tax, Capital Gains […]