8Twelve Consulting Limited

With more than half of January passed, the tax deadline is starting to loom over businesses across the UK. With online returns and tax payments on a strict timer to 31st January, now is one of the most important times of the year to make sure that your accounts are being handled properly.
Please contact me if you need help with your Tax return.

The 2017/8 Self Assessment Tax return deadline is fast approaching .....

The Easter dates in 2019 fall quite late, on 19 April (Good Friday) and 22 April (Easter Monday), and with the May Day bank holiday on Mon 6 May, by taking nine days of annual leave in between those dates (from 23 April until 3 May), combined with the weekends you’ll get 18 consecutive days off work.

What is a Director's loan account and the consequences of it becoming overdrawn?
HMRC can demand that the money is paid back promptly, else you and your companies finances can be affected.

If you’re a new director or thinking of setting up a limited company, you’ll need to know what your responsibilities to HMRC and Companies House are.If you’re a new director or thinking of setting up a limited company, you’ll need to know what your responsibilities to HMRC and Companies House are.

64 years from now, all retail sales will be made online, according to a new study. Could 2082 be the year the high street sees its final shopper ?

What will the deal be with VAT in the event of a no-deal Brexit? HMRC has released guidelines to make business owners aware of both immediate and long-term changes if no trade agreement is struck with the EU.
As the Brexit countdown enters its final 200 days, HMRC has issued VAT guidance for business owners if the government returns without a trade agreement. The short version is that VAT is here to stay and broadly speaking, transactions with EU countries will be treated the same way as transactions with non-EU countries are currently treated.

Need help with your Bookkeeping/Accounting/Payroll then give me a call - Samantha 07966 184747

Looking for a friendly Accountant / Bookkeeper ? Then look no further www.8twelveconsulting.co.uk

David Cameron’s marriage tax allowance was exposed as a flop this week after it emerged just two in five eligible couples had claimed it.
Two years after it was brought in, HM Revenue & Customs said that while 4.2million people fit the criteria for the handout, just 1.7million had applied.
Critics blame the failure on the Treasury for not doing enough to prioritise the scheme, with some saying it had been ‘deliberately’ downgraded by former chancellor George Osborne.
... They say the reason that only 40 per cent of eligible couples had signed up for the tax break was that it was far too meagre – enabling couples to save only a maximum of £220.
The failure has forced HMRC to step up a marketing campaign in a bid to persuade millions of other couples to sign up for the free money.
Couples are also being allowed to backdate their claim to April 2015, when the tax break was announced – enabling them to receive up to £432 in one go.
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Are you ready for workplace pensions, also known as auto enrollment. Do you know what this means for you and your employees?
Contact us for help and support.

Savings interest is now paid tax free
It used to be that for every £100 interest earned, basic-rate taxpayers lost £20 in tax, higher rate £40. Yet since 6 April 2016, the new personal savings allowance (PSA) has turned it on its head. Now:
All savings interest will be paid gross, ie, there'll be no tax taken off.... This works for ALL interest – not just savings accounts, but bank accounts, credit unions & peer-to-peer savings. However share dividends aren't included. Basic 20% rate taxpayers can earn £1,000/yr interest tax-free. Higher 40% rate taxpayers can earn £500/yr interest tax-free. Top 45% rate taxpayers don't get a PSA, so all interest is taxable. Cash ISAs, premium bonds and other tax-free savings interest DON'T count towards the £1,000 (or £500) PSA limit so you can get this interest too. If you earn interest over the limit, you pay tax at your income tax rate, but only on the amount over the limit. If you do then owe tax, it'll be taken through your tax code. If you self-assess, you'll declare anything you need to pay there. HMRC estimates the PSA will take 95% of people out of paying savings interest tax altogether.
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Self assessment deadline midnight Jan 31st !

HM Revenue and Customs ( HMRC ) must receive your tax return and any money you owe by the deadline - midnight 31st January 2017.
The last tax year started on 6 April 2015 and ended on 5 April 2016.
Please contact me if you need help completing your return or need your return completing and filing by the deadline.
... Samantha Kent FCCA 07966 184747 8Twelve Consulting Limited Samantha@8twelveconsulting.co.uk
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