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Diary of main tax events: April / May 2019
Date What’s Due 1/04 Corporation tax payment for year to 30/6/18 (unless quarterly instalments apply) 1/04 MTD for VAT starts to apply to VAT record keeping and VAT reporting for return periods commencing after this date (unless deferral to 1 October 2019...
New tax year ushers in key business and tax changes
As the beginning of the 2019/20 tax year approaches, a handful of significant changes to tax and business legislation are set to take effect. Rising National Living Wage (NLW) and National Minimum Wage (NMW) rates From 1 April 2019, the NLW for employees aged 25 and...
Essential tax dates for April
1 April Making Tax Digital for VAT set to take effect. 5 April Last day of 2018/19 tax year. Deadline for 2018/19 ISA investments and pension contributions. Last day to make disposals using the 2018/19 CGT exemption. 14 April Due date for income tax for the CT61...
Spring Statement 2019
Amidst all the Brexit debates, the Chancellor Philip Hammond presented his second Spring Statement on Wednesday 13 March 2019. In his speech the Chancellor provided an update on the economy and responded to the Office for Budget Responsibility forecasts Personal Tax...
Property Taxes for Senior Citizens
For most individuals their residence is their main asset. Where transactions in connection with the property are undertaken without professional advice the tax costs can be unexpected and in many cases the costs could have been avoided with the right advice. The...
March Tax Events
The following Tax Events are due on 31st March 2019: Personal Tax Events Last minute planning for tax year 2018/19 The final deadline of 5th April 2019 is relevant to individuals who have not considered year end tax planning issues. These issues include: utilising...
Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 March 2019. The guidance states: 'You can use the previous rates for up to one month from the date the new rates apply'. The rates only apply to employees using a company car. The...
Latest update for employers
HMRC has issued Employer Bulletin (February 2019) which includes a number of interesting articles on: End of year reporting Reporting expenses and benefits Student Loan notices and a new type of Student Loan repayment that employers will need to be able to process via...
HMRC advice – prepare for no deal.
HMRC is urging business owners to make sure they are ready for a potential no deal Brexit. Business owners are being urged to prepare now and take steps to ensure their businesses can continue to trade with the EU if the UK leaves the EU without a deal. HMRC advise:...
National Minimum Wage Rates
Current level At Present Increase To Adult rate (21+) NLW (25+) £7.83 £8.21 Adult Rate (21-24) £7.38 £7.70 YDR (18-20) £5.90 £6.15 16-17 Yr. Old Rate £4.20 £4.35 Apprentice Rate £3.70 £3.90 Apprentices are entitled to the apprentice rate if they are either: aged...
Personal Tax Events
5% late payment penalty on any 2017/18 outstanding tax which was due on 31st January 2019 and still remains unpaid This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income...
Advice for young entrepreneurs entering the world of business
The UK start-up revolution shows no sign of slowing down, and that’s because of budding entrepreneurs. Young entrepreneurs bring fresh new ideas to the table, and are significant in both job creation and economic growth. Their new ventures can generate new wealth and...
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Middleton Accountancy Services
211 Manchester New Road
Alkrington
Middleton
Manchester
M24 1JT
