Please see below a brief list of areas that may need particular attention: -

 

  • Making Tax Digital is now live for all VAT registered businesses from 1 April 2019 which will affect all VAT Return filing. Do you have compatibile software and procedures in place? If not, please contact us to see how we can help.
  • Auto Enrolment is here. Do you know your Staging Date and are you aware of your obligations?
  • From the 6 April 2019 the Employment Allowance which could reduce Employer’s Class 1 National Insurance Contributions (NICs) by up £3,000 remains unchanged.  This will be removed from 6 April 2020 for Employer's with an Employer's NIC liability of £100,000 or more in 2019/20. 
  • Annual Investment Allowance increases to £1 million from 1 January 2019 to 31 December 2020
  • Personal Allowance limit increased from £11,850 to £12,500 from 6 April 2019
  • Higher Rate tax threshold raised to £50,000 from 6 April 2019
  • Income limit for Personal Allowance remains at £100,000 from 6 April 2019
  • National Insurance Primary & Secondary thresholds are aligned at £166 each per week respectively from April 2019
  • Corporation Tax remains at 19% for 2019 
  • New Living Wage Rate came into effect on 1 April 2019. Are you compliant?   
  • A further one per cent cut in the main rate of corporation tax from April 2017, to 19%
  • New HMRC redesigned Business Records Checks (BRC) are now being implemented - are you ready?
  • HMRC PAYE Real Time Information (RTI) - do you still have problems and are you aware of the penalties involved? 
  • Were you ready for the 5 April 2019 Tax Year end and will you utilise all of your allowances and reliefs on your 2019 Self Assessment Tax Return by 31 January 2020?
  • Have you missed out on Class 4 NIC loss relief?
  • VAT Flat Rate Scheme - are you losing out?
  • Did you miss the filing deadline of 31 October 2018 for paper based tax returns?
  • Can your existing Accountant guarantee that they can produce iXBRL compliant Accounts and Returns?
  • New HMRC compliance visits - are you ready?
  • Did your current Accountant advise you of "the real tax year end" and did you miss out on Capital Allowances Relief?
  • Are your Company details up to date with the relevant authorities?
  • Are you aware of the new HMRC compliance visits and penalty system?
  • Are your Company expenses records up to date and do they comply with HMRC guidelines?
  • Are you receiving the right Tax, PAYE, VAT and Accountancy advice?
  • Are you given sufficient notice to plan for forthcoming tax liabilities and take advantage of Capital Investment?
  • Does your Company have an effective "R&D" policy and do you comply with HMRC legislation?
  • Are you being overcharged and undervalued by your current Accountant?

 

If you have any queries or doubts regarding any of the above, then we would advise that you contact us immediately for a free initial consultation and we can guarantee you will not be disappointed.