SJB & Co Chartered Accountants
Tax Returns! We are now nearly two months into the new tax year and it is time to think about completing tax returns! Tax return information should be available with banks and brokers making annual reports available online or sending them out and employers issuing end of year details. We are asking all clients to […]
June 22 Update – Tax returns Read More »
The final reporting obligations for employers that provide Benefits in Kind (BiK) to employees, including directors, is fast approaching. The following update sets out what needs to be done and by what date What needs to be included on P11D forms Items that should be included on a form P11D include any payments made, or
P11Ds: Reporting Benefits in Kind 2021-22 Read More »
PROPERTY BUSINESSES – TAX REVIEW CHECKLIST As Making Tax Digital is now just 2 years away, it is time to start preparations if you have not already done so. Landlords whose rental and self-employed income exceeds £10,000 per year will have to comply with the MTD rules. Note that it is gross income (turnover) that
Property tax issues and checklists Read More »
The Chancellor unveiled his Spring Statement today. With a background of increasing wage, fuel and raw material costs and rising inflation, it was hoped the Chancellor would bring some respite for small businesses and sole traders. Thankfully there is some small respite coming for small business owners and sole traders. Before you get too excited,
The annual tax-free capital gains allowance is £12,300. Consider selling assets, shares for example, that can be sold within the tax-free allowance. If your chargeable gains are likely to exceed the £12,300 limit, are there any assets you can sell at a loss to reduce the total gains below the tax-free limit? It is no
Year-end capital gains tax planning 2021-22 Read More »
Inheritance tax (IHT) planning check list Make sure you have an up-to-date Will. Dying without a Will can cause all sorts of problems for your surviving family as well as affecting your IHT liabilities. Make the most of the annual gift exemptions. You can only carry forward the £3,000 unused annual allowance for one year.
IHT Year-end Checklist for 2021-22 Read More »
There is just over a month to go before the end of the tax year. If you have not already started to do so it is time to start reviewing your finances to consider any actions required by 5 April. If your business year-end is also at the end of March then there will be
Tax payments due 31 JanuaryThis a quick reminder that tax due for last year and payments on account for the current year are due by 31 January. Clients who have completed their tax returns will have the details in the tax return documentation sent out with their return. Details of how to pay if you
31 January Tax Payment Reminder And Filing Deadline Read More »
As UK regional governments turn the screw to limit the spread of the new COVID Omicron variant, we have set out below how you can access details of the current financial support that is available to UK business owners affected by these changes. Major grant options, the Coronavirus Job Retention Scheme, and the Self-Employed Income
How to access details of current grants or other funding for your business Read More »
Christmas is usually a time for people to get together, and an opportunity for you to celebrate with your team. That’s been difficult in recent years, but this year, perhaps can be a bit better. So, instead of the usual Christmas party, why not do something a bit different? Don’t underrate team building As the
Christmas parties and other tax efficient options Read More »
