21/12/2018 by Pete Bird
Newsletter January 2019
Up and coming over the next couple of months
Happy New Year...
We hope that 2019 proves to be a prosperous one, presenting opportunities to build your business interests and improve your financial position.
We are currently working hard to ensure all of our clients meet the 31 January 2019 tax return filing deadline. If you still need to let us have the information to complete yours, then please consider this to be a gentle nudge.
Up and coming over the next couple of months:-
Individuals might like to:-
• Consider whether they want/are able to make pension contributions in the current tax year. We would encourage you to speak to your financial advisor early if this applies to you.
• Consider if you have fully utilised your tax allowances for 2018-19? For example, your personal tax allowance £11,850; the capital gains tax exempt amount £11,700; and inheritance tax tax-free gifts allowances.
• Have you taken advantage of the £20,000 ISA limit?
Companies/businesses need to:-
• Consider how to deal with your obligations, if any, to comply with the General Data Protection Regulation (GDPR).
• Consider the timing of any capital expenditure, perhaps accelerating it into the current accounting year to bring forward the tax benefit of capital allowances.
Making VAT Digital (MVD) what you need to:-
• Have you made arrangements to prepare your bookkeeping records digitally, so that you can still submit your VAT returns under the new rules that are mandatory from 1 April 2019?
• If not, then please speak to your accountants or we can help and advise you?
DATES TO REMEMBER:
1 January 2019 - Due date for Corporation tax for companies with an accounting period ended 31 March 2018.
7 January 2019 - Due date for filing and payment of VAT for the period ended 30 November 2018, unless you submit a paper return then the date is 31 December 2018.
31 January 2019 - Latest date for filing your 2018 online self assessment tax return if you wish to avoid a late filing penalty, Due date for payment of the tax for 2017/2018 and first payment on account for 2018/2019.
19th of the Month:Due date for postal payments of PAYE, NIC and CIS deductions and on-line filing deadline for CIS300 monthly return to HMRC.
22nd of the Month:
Due date for electronic payments of PAYE, NIC and CIS deductions to HMRC.