11 Dec 2018 | Tax Article
December • #05 COLLECTING UNPAID TAX FOR 2017/18 THROUGH YOUR PAYE CODING Under certain circumstances it is possible to arrange the collection of unpaid tax through your PAYE coding rather than making a balancing payment on 31 January. This will depend upon the amount...
11 Dec 2018 | Tax Article
December • #04 GIFTS TO CHARITY Where possible higher rate taxpayers should “Gift Aid” any payments to charity to provide additional benefit to the charity and for the individual to obtain additional tax relief on the payment. For example where an individual makes a...
11 Dec 2018 | Tax Article
December • #03 GIFTS OF UP TO £50 TO EMPLOYEES From April 2016 new rules were introduced to allow employers to provide their directors and employees with certain “trivial” benefits in kind tax free. The new rules were brought in as a simplification measure so that...
11 Dec 2018 | Tax Article
December • #02 CERTAIN GIFTS CAN HAVE CAPITAL GAINS TAX CONSEQUENCES Although there will be no CGT on gifts of cash there may be CGT to pay where the gift comprises shares or other assets. This is because the transaction will generally be deemed to take place at...
11 Dec 2018 | Tax Article
December • #01 CHRISTMAS IS THE TIME FOR GIVING Those thinking about making gifts at Christmas should take advantage of the various inheritance tax (IHT) exemptions and reliefs available to them. Note that certain gifts can also have capital gains tax (CGT)...
