With the Self Assessment deadline of the 31st January 2019 for all electronic tax returns (paper returns had to be filed by October 31st) speedily approaching. Dont leave it to late! HMRC are expecting more than 11.5 million tax returns to be submitted before the deadline. Last year over 750k people completed their ’18 return … Read moreSelf Assessment Deadline
Many businesses will face a routine tax investigation from time to time. More serious investigations are likely if HM Revenue & Customs (HMRC) suspects your tax returns are inaccurate. HMRC has now put small businesses under the microscope and are chasing the estimated £33 billion that is missing from the tax bill. How will i … Read moreTax Investigation Insurance
From April 2019, VAT registered businesses with an annual turnover in excess of £85,000 will be required to keep their records in a digital format and submit VAT returns using Making Tax Digital (MTD) compatible software. HM Revenue & Customs has been charged by the government to modernise the current tax system. Over the past … Read moreMaking Tax Digital (MTD)
Temporary increase in the annual investment allowance The annual investment allowance (AIA) provides a 100% allowance on qualifying expenditure, subject to an annual limit. Budget 2018 announced a temporary two-year increase in this limit from £200,000 to £1,000,000 from 1 January 2019. As with previous changes to the limit, transitional rules will apply to businesses … Read moreAnnual Investment Allowance
The Government has announced it will introduce a package of measures from April 2019 designed to reduce administrative burdens on charities. These will include: increasing the upper limit for trading that charities can carry out without incurring a tax liability from £5,000 to £8,000 where turnover is under £20,000, and from £50,000 to £80,000 where … Read moreCharity Taxes
We are pleased to announce that we have had a smartphone application developed. The AJR & Co app is now available on both Android and iOS, full of useful features, such as tax news, calculators and even mileage tracker!. We hope you find it useful and we would appreciate your feedback. You can find the … Read moreAJR & Co app now available!
Please note that if you have staff the auto-enrolment pensions contribution goes up from 6th April 2018 and again from 6th April 2019. The new contribution rates will be: Date Effective Minimum Employer Contribution Staff Contribution Total Contribution Currently 1% 1% 2% 6th April 2018 2% 3% 5% 6th April 2019 onwards 3% 5% 8% … Read moreAuto-enrolment pensions minimum contributions set to increase from 6th April 2018!