Job Retention Bonus In an attempt to encourage employers to bring back furloughed employees and provide them with gainful employment, employers that bring back a furloughed employee, and continuously employ them through to January 2021, will be paid a new Job Retention Bonus amounting to £1,000 per employee retained. Employees must be seen to be […]
There was some welcome news in the Budget for pension funding. Tax relief remains unaffected and many higher earners will no longer be subject to the pension tapered annual allowance. But, those earning more than £300,000 could see their pension funding further limited. Per the recent Budget: A £90,000 increase to the tapered annual allowance […]
Have you recently received a “Chargeable Event Certificate? (These are issued by the policy provider if you cash in an investment bond) The Government is passing new tax law to provide clarity on the calculation of top slicing relief on investment bonds. This is because a taxpayer took HMRC to court and won (the “Silver” […]
https://www.dbeckman.com/wp-content/uploads/2020/01/Top-Ten-Tax-Tips.pdf
Since the introduction of the High Income Child Benefit Charge (HICBC) in January 2013, many parents haven’t bothered to register for the child benefit because their taxable income is more than £60K. The HICBC starts to claw back any child benefit received by a couple when the income of the highest earning partner reaches £50,100. […]
1. The Principles of Making Tax Digital (MTD) 1.1 The principles of MTD are essentially threefold: a) records must be retained digitally; b) the VAT return must be submitted digitally direct from your accounting system into HMRC’s systems. This means no manual entry or transmission of the data: and finally. c) there needs to be digital links between all parts […]
There are only 4½ months to go before all VAT registered businesses with sales above £85K will need to file their VAT returns digitally under Making Tax Digital (MTD). There are 2 key steps which you/we now need to take: Step 1 – Assess whether you are within MTD or not This means we need […]
There are only 4½ months to go before all VAT registered businesses with sales above £85K will need to file their VAT returns digitally under Making Tax Digital (MTD). There are 2 key steps which you/we now need to take: Step 1 – Assess whether you are within MTD or not This means we need […]
Politicians have meddled with the tax system so often (without prior consultation) that HMRC cannot work out the right or (as they say) the “fair” amount of tax correctly. What’s more the problem covers many taxpayers Take someone with salary income of just £8,000, bank interest of £2,000 and dividend income from their own company […]
The recent Budget proposed massive increases to the fee you need to pay to deal with someone’s estate when they’ve died in England and Wales. What is probate? Probate is the legal permission that is required to distribute someone’s Will after they have died. A Grant of Probate must usually be obtained before an executor […]
© Copyright 2024 David Beckman & Co Ltd. Registered number 04744238 Registered in England. Regulated by the Institute of Chartered Accountants in England & Wales for a range of investment business activities. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers.
Website Created by Web Motivation.
