Tax tips and codes for 2018/19

What tax code do I use for 2018/19? In general, use 1185L for employees unless: Notification of a different code is advised by HMRC. The employee’s code was not the basic code last year, in which case expect to: Add 35 to any tax code ending in L Add 39 to any tax code ending in M…

Taxation of Dividends

How the new rules may affect you if you receive dividends 6 April 2016 saw major changes to the taxation of dividends.  Prior to this date, small companies could pay their owner directors a low salary with a substantial dividend payment which saved the company and the director national insurance.  For 2015/16 you could take…

Key accounting dates for January

Individuals and partnership 31 January 2017 Electronic filing date for 2015- 16 personal, partnership and trust tax returns. Balance of 2015-16 tax liabilities due. Payment of first tax instalment for 2016-17 tax liabilities 2014-15 tax returns to be amended by this date. Small and medium-sized companies 1 January 2017 Payment of corporation tax liabilities for…