Posts Categorised: News

Dividend Allowance Advice

There’s No Single Right Answer We provided a reminder recently about the forthcoming change to dividend taxation. The new Dividend Allowance is likely to make a difference to many small business owners.  How big that difference is and whether it is positive or negative is highly dependent on your specific circumstances. It is already clear… Read more »

On or Before Reporting

HMRC tightens up the rules HMRC has confirmed that the temporary relaxation of when PAYE information is reported will end as planned on April 5th 2016. The relaxation allowed businesses with 9 employees or less to report PAYE information ‘on or before’ the last payday in the tax month. This means that PAYE reporting must take… Read more »

Dividend Allowance

A Major Change to Dividend Taxation HMRC has now clarified the structure and tax rates of its new Dividend Allowance. From April 6th 2016 the new tax regime will replace the Dividend Tax Credit and many limited company owners will see a significant tax increase. The changes are designed to reduce “tax motivated incorporation” where… Read more »

2016 Alfie Johnson Summer Ball

Saturday 2nd July is the big day The annual Friends of Alfie Johnson Summer Ball will take place on Saturday 2nd July at its spiritual home: Earls Suite at the Copthorne Hotel, Merry Hill. Tickets are £40 per person or 375 for a table of 10.  The evening features many opportunities for dance, revelry and… Read more »

Record Returns Returned

Everybody crossed the line on time In another record-breaking year Lewis Smith & Co. succeeded in getting all of its clients self assessment returns filed ahead of the January 31st deadline. In fact this year there was  noticeable increase in people providing their paperwork well ahead of time.  That has its benefits for both parties… Read more »

HMRC Advice on Phishing

HMRC Guidance on Recognising Bogus Emails. Most of you will have received “phishing” emails that try to trick you into providing personal or financial information. They range from the faintly ludicrous Nigerian bank account stories to fully branded, personalised messages that are hard to distinguish from the real thing. Emails that appear to come from… Read more »

National Minimum Wage 2016

Are you ready for the big rise?  The national minimum wage rises by 50p in April this year from £6.70 to £7.20 for people aged 25 and over. The government has softened the blow for small businesses by a 50% increase in the National Insurance contributions (NICs) employment allowance, which rises to £3,000 per year…. Read more »

Happy New Year

How to start 2016 The last cork has popped on the bubbly and the Christmas decorations have come down. There’s a New Year to look forward to starting with… Tax returns.  Or to use the proper terminology “self-assessment tax return”. Remember that the online forms for the 2014-2015 tax year must be completed and filed… Read more »