Tax Tips & News

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12/12/2019

December Tax Tips & News

Welcome to the BWP Inspire Tax Tips & News newsletter. If you need any help with any of the issues we’ve discussed this month, just let us know or send us a question for our Question and Answer Section. We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year. Please contact us for advice on your own specific circumstances. We’re here to help!

Tax-free Christmas parties
Whilst the tax legislation does not include a specific allowance for an employer providing a Christmas party for employees,HMRC do allow limited tax relief against the cost of holding a social function for employees, Read More...
 
Proposals to pay doctors’ pension tax bills: update
In an attempt to encourage working overtime shifts, doctors have been promised that their tax bills for higher rate pension relief will be covered by the NHS. This development follows the refusal by doctors to work overtime because of tax penalties receiv Read More...
 
Should I register for VAT?
In broad terms, and subject to certain exceptions, a business will be required to register to charge and pay VAT once annual sales reach a pre-set annual threshold, which is currently £85,000. This threshold is determined by total sales and is not t Read More...
 
Should I incorporate my business?
As things currently stand, the expected cut in the main rate of corporation tax to 17% from April 2020 is unlikely to happen, but current corporation tax rates remain pretty favourable. There are also other areas where company formation may help save tax. Read More...
 
December questions and answers
Q. Do all assets qualify for the capital allowances Annual Investment Allowance? Read More...
 
December Key tax dates
19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/12/2019 Read More...
 
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