It comes around almost as fast as Christmas, and here we are again. The 31 January 2018 marks the deadline for filing of the 2016/17 Self-Assessment Tax Return (SATR). Individuals who are required to submit a SATR include, the self-employed and some landlords, investors, company directors, high earners and people who have worked overseas. Those … Continue reading Tax Return Deadline is Approaching
Planning to minimise the inheritance tax (IHT) due on your estate is always important, but the recent introduction of the residence nil-rate band (RNRB) means now could be the ideal time to review your existing plans. What is the RNRB? IHT is charged at 40% on estates worth in excess of the nil-rate band, which … Continue reading Is It Time to Review Your Estate Plan?
The Treasury have delivered what is potentially good news for many (yes, you have read that correctly). Making Tax Digital, or MTD to give it its affectionate moniker, has been both delayed and reduced in terms of requirement. For businesses that are VAT registered, VAT returns will still have to be submitted via MTD compatible … Continue reading Making Tax Digital Delayed until 2020
There are many factors which will influence your choice of company car. These can include the distance you travel, terrain covered, the price, your lifestyle and perhaps even your clients. However, is tax ever a consideration? The start of the tax year saw an increase in the company car rates and indeed the rates are … Continue reading Tax and Your Company Car
If you and your employees club together to take a chance on the Lottery by operating a workplace syndicate, but you do not have a formal agreement in place, a large win could cause tax issues in the future. If ever you are fortunate enough to win the jackpot, the winnings will undoubtedly be … Continue reading Don’t Be a Lottery Loser – Protect Your Syndicate Winnings
The South Wales Argus highlight another successful Gwent Landlord Forum. Landlords from across south east Wales have again received expert advice, support and insight into the ever-changing rental landscape as part of the bi-monthly Gwent Landlord Forum. The event, held by Cwmbran-based Rubin Lewis O’Brien, Green & Co Accountants and Tax Advisors and Lettings agency … Continue reading Landlords Kept in the Know as Renting Homes Act Moves Forward
The question of whether medical expenses are tax deductible is one which is frequently posed and we can consider this using the example of a self-employed farmer who seeks treatment from a chiropractor. She believes that the treatment will improve her ability to farm and therefore queries whether she can claim a deduction for this … Continue reading Doctor, Doctor: Are Medical Expenses Tax Deductible?
Green & Co feature in the South Wales Argus discussing the tax changes for employee perks. The new tax year has seen a raft of changes, with more legislative reform scheduled to come into effect over the next few years. From changes in dividends, stamp duty, and national insurance (with a U-turn thrown in for good … Continue reading Some Employee Perks Are Being Lost and It Could Be Costly
From 6 April 2017 the tax and employer national insurance advantages of a salary sacrifice or salary exchange will be removed, with the exception of: Pensions Childcare (Vouchers, workplace nurseries or directly contracted childcare) Cycle to work Ultra-low emission cars with co2 emissions of or less than 75g/km. Any employees who have swapped their salary … Continue reading Some employee perks are losing their tax breaks.
A new allowance which will enable people to access pensions advice in a tax efficient way will commence in April 2017. Under existing rules, if you require advice regarding pensions you will normally have to pay a fee to a Financial Adviser. A new allowance being introduced in April will mean that you will be … Continue reading New Allowance for Pension Advice