SJB & Co Chartered Accountants
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 »
The Chancellor, Rishi Sunak, presented his Autumn 2021 Budget and Spending Review on 27 October 2021. Before taking any action based on the contents of this update, please contact us to discuss what the Budget announcements will mean for you and that consider your unique business or personal financial circumstances. Impact on your personal taxes
Budget Impact Statement October 2021 Read More »
Application must be made before 30 Sept 2021 The final Self-Employed Income Support Scheme (SEISS) grant covers the period from 1 May 2021 to 30 September 2021 (five months). Online applications must be made before 30 September 2021 and the process is far from simple. This is an alert to self-employed traders that have not
Final SEISS claim’s deadline Read More »
A summary of the changes announced to increase funding for the NHS and social care budgets from April 2022 The National Insurance (NIC) and dividend tax increases announced yesterday will apply from April 2022 and will be repackaged, in part, as a Levy from April 2023. This Levy will also affect retired persons still
Tax increases to fund NHS and social care proposed Read More »
