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Don’t overclaim for equipment purchases

You can use the Annual Investment Allowance (AIA) to claim a very generous 100% first year tax relief for qualifying expenditure on plant and machinery. The allowance is available for most assets purchased by a business but does not apply to

Reducing payments on account

Taxpayers are usually required to pay their Income Tax liabilities in three instalments each year. The first two payments are due on:

31 January during the tax year e.g. for 2018-19 the first payment on account is due on 31 January 2019.
31

Could you claim the Marriage Allowance?

If you or your partner are a low earner or not working, then you may be eligible for the Marriage Allowance (MA). The MA allows lower earning couples to share part of their personal tax-free allowance. The MA is available to married couples and those

Carry back charitable contributions

Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a proper record of all donations to backup tax return entries. Donations that are made through the Gift Aid scheme allow for the recipient charity to

Remaining age related tax allowances

Most age related tax allowances have been phased out. However, the Married Couple’s Allowance (MCA) is available to elderly married couples or those in a civil partnership where at least one member of the couple were born before 6 April 1935. The

Tax if clients leave the UK to live abroad

The P85 form should be completed by individuals or their agents to advise HMRC that have left the UK to live or are going to work abroad for at least one full tax year.
The completion of the P85 form will ensure that an individual leaving the UK

Automatic enrolment for the self-employed?

The government has confirmed that they are to examine a number of different approaches to help encourage the self-employed to save for their retirement. The success of automatic enrolment for pension savings for the employed has helped highlight that

New ‘global’ pound coin

HM Treasury has confirmed that the £1 coin will be going global. This announcement means that the UK’s Overseas Territories and Crown Dependencies will be able to design and mint their own versions of the 12-sided £1 coin replacing the older coins.

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