The new rules that apply to claims for capital allowances on fixtures to buildings are now in place.
Whether you already have business premises or are in the process of purchasing new or second hand premises, let us help you to protect your entitlement to tax relief.
If you submit tax returns to HM Revenue & Customs (HMRC), a second payment on account in respect of your 2013/14 income tax liability may be due for payment on 31 July 2014. Just under four months away!
Payments on account are based on your tax liability from the previous year. You paid the equivalent of half last year’s tax liability on 31 January 2014 and the remaining half is due on 31 July 2014.
Grab your April 2014 edition of Carlisle Living magazine and head to the business pages, where you can see our article about the launch of our accountancy and tax advisory business – SeavorChartered. The article provides you with a background about Sarah Seavor and explains briefly about SeavorChartered’s personal one to one approach.
A £2,000 Employment Allowance is available from 6 April 2014 to employers who pay employer’s Class 1 National Insurance Contributions (NIC). Those employers who qualify will reduce their NIC bill by up to £2,000.
This is just one of the measures taken by the UK Government to help and support employers with the increased cost of employing staff.
Ensure that you make the claim and take advantage of this cut to your NIC bill.
The rules regarding VAT on discounts (Early Settlement Discount) is changing from 1 April 2015.
HM Revenue & Customs (HMRC) have estimated this could affect up to 250,000 businesses that currently offer early settlement discounts to their customers. These businesses will need to review their systems and look to revise their paperwork accordingly.
Did you know that you can get tax relief when selling your own home? Providing a property has been your residence at some time during your ownership of it, a gain on its disposal will qualify for Principal Private Residence (PPR) relief and be exempt for Capital Gains Tax (CGT) purposes. Even though you may not be living in the property at the time of disposal and may be living in another property as your main residence.
Chancellor George Osborne’s fifth Budget statement was delivered today at 12.30pm. The Chancellor’s message was that although the economy is more resilient and the recovery is much better and faster than forecasted, it does remain fragile and so he still has some tough decisions to make which will affect us all.
He is keen however to reward those of us who work hard and want to get on and he wants to support the UK’s businesses to encourage growth and aspiration.
If you are a maker, doer or saver then this was a Budget for you!
So what were the key announcements from today’s Budget?
At 12.30pm on Wednesday 19 March 2014, the Chancellor, George Osborne, will deliver his 2014 Budget speech which sets out the UK government’s plans for the economy and public finances for the coming year!
We are very excited to have launched the SeavorChartered website.
The launch of our website has added to our excitement of starting up a new accountancy practice in Carlisle. Since starting up only 2 weeks ago, we have received an extremely positive response and we are confident that this will continue.
