Those running a business should take advantage of the temporary increase in the Annual Investment Allowance (AIA) to £250,000. 5th April 2014 is not relevant for this tax break as the limit continues until 31 December 2014, although there are complex transitional rules. AIA provides a 100% tax write off for plant and equipment used … Continued
The new £2,000 “employment allowance” that provides relief from paying employers NIC on the first £2,000 of contributions starts 6 April 2014. For many employers the benefit of the £2,000 relief will be obtained in month 1 by reducing employers NIC payable, for others it could take several months before credit for the £2,000 is … Continued
Have you made use of your annual inheritance Tax exemptions? The general annual exemption is £3,000 per donor (plus last year’s £3,000 exemption if you did not use it). Also consider making regular gifts out of your income to minimise the growth of your estate that will be liable to IHT.
If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS), which offers income tax relief of 30 per cent as well as capital gains tax relief? An even more generous tax break is available for investment in A qualifying Seed EIS company where income tax relief at 50 per cent … Continued
Your maximum annual investment in ISAs for 2013/14 is £11,520 (up to £5,760 of which can be saved in a cash ISA). Your investment needs to be made before 6 April 2014. In addition have you thought about investing for your children or grandchildren by setting up a Junior ISAs or pensions? In the 2013/14 … Continued
For every £2 that your adjusted net income exceeds £100,000 the £9,440 personal allowance is reduced by £1. Pension contributions and Gift Aid can help to reduce adjusted net income and save tax at an effective rate of 60%.
Higher rate taxpayers should make any charitable payments under Gift Aid so that you obtain additional tax relief. The charity will also be able to reclaim the basic rate tax from HMRC. Note also that Gift Aid can be carried back for relief in the previous tax year.
HMRC have just announced that the penalties for late RTI returns will now start from October 2014 instead of April 2014, although interest will run on late PAYE and NIC payments from April 2014.
The first 18 months of the introduction of workplace pensions reform has underlined the need for all employers to plan ahead. Don’t leave it too late – is the message from The Pensions Regulator. Over the next 18 months, it’s the turn of medium employers with around 50-250 workers to comply with their duties to … Continued
From 6 April 2014, employers will no longer be able to claim the Percentage Threshold Scheme (PTS) reimbursement for Statutory Sick Pay (SSP). Employers will have until the end of the 2015-16 tax year to recover SSP paid before the end of the 2013-14 tax year. Employers will still be required to maintain SSP records … Continued
🎅🏻BWM Christmas opening hours🎅🏻
🎄The BWM office will be closed over the Christmas period from close of business on Friday 22 December 2023 at 12pm until 9am on Tuesday 2 January 2024. 🎄
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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