A guide to the Lifetime ISA. Announced by Chancellor George Osborne in Budget 2016 and launching on 6 April 2017, the Lifetime ISA is designed to provide a tax-efficient option for people saving for a first home or retirement.
Workers not planning for retirement A third of workers globally do not have a retirement plan, according to research by Aegon. The survey of 14,400 employees and 1,600 retired people across 15 countries found that providing workers with access to workplace pension plans is a significant factor in ensuring that they are saving for their… Continue reading Workers not planning for retirement
Steady income as highly valued as salary The majority of employees value a steady income as much as the amount of money they receive.
Businesses will need to submit their tax and financial information quarterly using software that’s compatible with HMRC’s systems. In a letter to financial secretary to the Treasury David Gauke, Andrew Tyrie, chairman of the Treasury Select Committee, said that submitting records in a “prescribed digital format” would bring a financial burden to small firms that… Continue reading Software needed for your digital accounts
A guide to tax-efficient profit extraction for business owners. Owning and running your business is a tough proposition but it is vitally important that people continue to do it. As well as the rewards that come from hard work and determination, there are also monetary benefits to running your own business. There are a variety… Continue reading Extracting profits from your business
You may have concerns about your business or personal finances following the result of the EU referendum. We can explain what the result means for your finances and advise on potential actions. Contact us to discuss your circumstances.
Second payment on account reminder The deadline for the second payment on account for tax paid through self-assessment is 31 July 2016. Payment is required if the tax bill is more than £1,000, unless you’ve already paid more than 80% of all tax you owe.