Pearson May Blog

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The end of the tax year

March 3, 2018

To the surprise and relief of most in the tax profession, the 2017 Autumn Budget (which took place in November 2017) was a relatively gentle
affair. At the time of writing, the Spring statement on 13 March has not yet taken place but it will be issued in response to the Office for Budget
Responsibility’s forecasts and is not intended to be a major event.

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31 January tax return filing deadline February 2018

February 3, 2018

As I am sure most people are aware, 31 January was the online filing deadline in respect of Tax Returns for the year ended 5 April 2017.
If you have missed this deadline for whatever reason then you can still file your Tax Return, but you must act sooner rather than later to remedy
the situation.

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Tax benefits pension contributions January 2018

January 3, 2018

The tax benefits of making pension contributions can be significant and although there have not been any major changes in this area in recent years
(despite speculation that the Government would do so), it is always useful to recap the main tax benefits.

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PROPOSED CHANGES TO THE FLAT RATE VAT SCHEME

February 1, 2017

Many small businesses use the VAT flat rate scheme (FRS) to simplify VAT reporting and some even gain a cash advantage from using the scheme. One of the conditions for using the FRS is that the business’s turnover (excluding VAT) must be less than £150,000 per annum.

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DON’T BURY YOUR HEAD IN THE SAND AND STAY SAFE THIS CHRISTMAS

December 12, 2016

As I am sure most people are aware, 31 January 2017 is the online filing deadline in respect of Tax Returns for the year ended 5 April 2016. As we head toward the festive season, you may want to use any time off that you have to get your tax affairs in order. After all, there’s nothing that says Christmas quite like sorting through all your tax records whilst recovering from too much turkey and Christmas pudding!!!

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AUTO-ENROLMENT UPDATE

November 30, 2016

It is nearly two years since I wrote about this last and during that period a lot of employers have reached their ‘staging date’ for pension auto-enrolment purposes (the date by which employers are required to have a qualifying pension scheme in place for their employees).

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THE TAX BENEFITS OF GIVING TO CHARITY

October 19, 2016

What motivates you to give to charity? Is it to help make a difference? To make yourself feel better? To set an example? To join a cause? Whatever the underlying reasons, an added bonus can be the tax breaks that are available.

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Changes To Dividend and Savings Income

July 18, 2016

The changes to dividends and savings income from 6 April 2016 hit the BBC headlines as ‘New Savings Allowance to boost income for millions from April’ but there are some winners and some losers.

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