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Workplace Pension Re-Enrolment

Workplace Pension Re-Enrolment

Pension re-enrolment needs to take place every three years. HMRC and The Pensions Regulator are reminding employers about their obligations. This involves applying the auto-enrolment process to employees who opted out originally. Re-enrolment needs to take place within a six month window starting three months before your original auto-enrolment staging date and ending three months […]

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Temporary Increase in Annual Investment Allowance

Temporary Increase in Annual Investment Allowance

Temporary Increase in Annual Investment Allowance HMRC has announced a temporary increase in in the Annual Investment Allowance (“AIA”) which will mean significantly faster tax relief on purchases of plant and machinery from 2019. The Government has increased the AIA from £200,000 to £1,000,000 for the two years from 1 January 2019 to 31 December […]

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Inheritance Tax (IHT) – Tax Free Gifts

Inheritance Tax (IHT) – Tax Free Gifts

IHT is a tax that can be very expensive for your beneficiaries at 40% of your estate but properly managed the tax can be greatly reduced. You often see celebrities having very few assets when they die and hence little or no tax to pay as a result of proper tax planning. Part of this […]

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Dynamic Coding – Employers Liable if Tax Code Changes Not Implemented

Dynamic Coding – Employers Liable if Tax Code Changes Not Implemented

In July 2017 HMRC launched a new system for amending and updating employees’ tax codes called dynamic coding or ‘PAYE Refresh’. The final stage of the programme, the ‘tax code trigger’, is now being tested and will soon be rolled out nationwide. The process involves HMRC’s system automatically checking the tax codes used by you […]

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Self-Assessment Payment on Account Due 31st July 2019

Self-Assessment Payment on Account Due 31st July 2019

Payments on account are the advanced payments towards your tax bill, paid by self-employed people twice a year, with the deadline dates being 31st January and the 31st July. These have to be paid unless your tax bill is under £1000, or you have already paid 80% of the tax you owe, either through your […]

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