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
One in four people planning to retire this year don’t feel ready to stop working, Prudential has found. The Class of 2014 study tracked the aspirations of people who plan to retire and found a changing attitude towards retirement: 13 per cent of people scheduled to retire in 2014 have postponed their plans 54 per cent … Continued
Two of the highest priorities for high earners in the run up to the end of the tax year is checking whether they should apply for Fixed Protection 2014 and whether they need to make a final contribution prior to 5 April 2014, making use of carry forward relief where appropriate. Please note that the … Continued
The present position (prior to 6 April 2014) A Limited Liability Partnership (LLP) is a hybrid: it has the status of an incorporated business, but LLP members (or partners) are considered to be self employed. One practical consequence is that LLP members have unlimited liability. Contrast this with an unincorporated business partnership where partners are … Continued
Where a property has been an individual’s principle private residence (PPR) at some time during the period of ownership, the last 36 months of ownership have always been exempt in calculating capital gains tax. Where more than one residence is held, it is possible to make an election to nominate a particular property as the … Continued
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
2
🎄Merry Christmas🎄
The BWM office will be closed over the Christmas period from close of business on Friday 23 December 2022 at 12pm until 9am on Tuesday 3 January 2023.
Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
Sign up for news of BWM seminars and events
