Concerns by the Audit profession regarding the increase of audit exemption limits would lead to more instances of poor financial reporting were rejected by the Government.
- Digital Tax Accounts
- Early Pension Exit Fees Capped
- Lack of Flexible Working Hampers Employers
Download our February 2016 Newsletter
George Osborne delivered his 8th Budget as Chancellor, stating that this was a budget aimed at helping ‘smaller businesses’ and ‘the next generation’.
Read our April Newsletter for a round-up our latest tax news:
- Lack of management skills limit business growth
- 150,000 secure home ownership from Help to Buy
- National living wage - employer responsibilities
- Business announcements from Budget 2016
Succession planning is a complicated area of business and tax planning for family businesses.
Company car schemes can be a complex aspect of business management. Read our guide to setting up a company car scheme and the tax implications of doing so. Types of company car schemes:
Auto-enrolment is an important step in ensuring all employees have the opportunity to save for their retirement. Auto-enrolling employees into a workplace pension scheme is a legal requirement for all businesses, from those employing hundreds to those with only 1 or 2 people on the payroll. To keep compliant with the rules it is important that employers prepare properly for the event and give themselves sufficient time to do so.
The annual Rent a Room limit has been increased for the tax year 2016/17 from £4,250 to £7,500 starting from 6 April 2016 which is attractive to owner-occupiers and tenants alike.
Read our July 2016 Tax Newsletter for latest news on:
- Software for Digital Tax Accounts
- Second Payment On Account Reminder
- Steady Income as highly valued as Salary
- Workers not planning for Retirement
Read our guide to tax-efficient profit extraction for business owners and learn about the various ways to do so and the tax implications involved.
If you are registered for self-assessment and with the 31st July rapidly approaching, make sure you pay the second instalment of tax for 2015-16, that falls due on this date, unless no payment is due. Check with us if you are unsure.
Daly Park exhibited for the first time at NI Chamber's Annual Networking Conference in St George's Market, Belfast, on 14th September 2016.
Read about Daly Park's 36th anniversary in Belfast Telegraph's article from May 2016.
Small firms are being forced to file four online tax returns a year under the latest HMRC 'Making Tax Digital' initiative.
The deadline for self-assessment tax returns for the year 2015/16 is fast approaching.
Happy New Year and hope you're looking forward to a successful 2017!
Generally you are taxed by the country where you are 'tax resident' and it is possible to be tax resident in 2 or more countries.
Another Budget has come and gone and many of the issues are fundamental to our business and personal lives. The main ones are summarised in our Tax Card.
The latest tax updates and reminders affecting businesses and individuals. Looking at Inheritance Tax deadlines, Payments on Accounts and financing issues for small businesses.
As an owner/director of your business you should take tax advice on how to extract funds from your company.
Whether you own one or fifty let properties, you need to be aware of the tax changes that have already taken effect.
Following our day at NI Chamber's Annual Networking & Business Showcase at St George's Market in Belfast, we were delighted to meet the winner of our raffle prize.
Wishing all our Daly Park friends and clients a Happy New Year and hope you're all looking forward to all that 2018 brings. Read our January 2018 Tax Newsletter for the latest tax news...
A guide to reducing your tax bill before the end of the current tax year.
Daly Park's new Tax Card for the Tax Year 2018/19 is now available.
Read our newsletter for the latest news - on auto-enrolment compliance, food & drink exports etc.
82% of workers feel motivated after receiving some form of recognition from their employers, but what are the tax implications?
Delighted to attend Accountex 2018 in London in May, the UK's largest Accountancy and Finance conference.
Latest news affecting your tax affairs - NIC, Inheritance Tax, Dividend Allowance
Find out more about the tax implications of extracting profits from your business.
In line with the Government's 'end of austerity' message and boosted by better than expected tax revenues and growth forecasts, the Chancellor gave his most eventful Budget speech to date.
With the 31st January self-assessment tax return deadline approaching – do get in contact NOW if you haven’t sent us your income and business details.
Our Year End Tax Guide provides tips to help you reduce your tax bill in advance of the end of the current tax year on 5th April 2019. Tax planning to ensure you avail of all relevant tax reliefs and tax allowances can be very beneficial and should be undertaken before the end of the tax year.
Our latest tax newsletter brings you the latest on auto-enrolment obligations and fines, the streamlined company registration process, the avoidable inherited ISA tax charge and proposals to tighten wealth taxes.
Are you at risk from a tax investigation? HMRC is better equipped at spotting potential anomalies and non-compliance with its powerful data analysis system ‘Connect’ which can cross-reference tax payers information against other government agencies e.g. DVLA, and other trading websites.
This week's Spring Statement from the Chancellor was a very low-key affair with little in the way of new tax news.
With the end of the 2018/19 Tax Year fast approaching, people often ask us how to reduce their tax liability.
Restaurants and takeaways make up approximately a quarter of the businesses ‘named and shamed’ by HMRC as ‘deliberate tax defaulters’ since it began publishing the list in December 2017.
For the latest news on Making Tax Digital for VAT, the Employment Allowance, late tax payments and Charity Accounts Audits:
If you have a property which was once your main residence and you either let it out or have retained it for other reasons, then, from 6 April 2020, HMRC is proposing three significant changes which will potentially increase the capital gains tax paid on the disposal of the property.
Budget day kicked off with an early announcement of a bank interest rate cut. The coronavirus completely overshadowed the Spring Budget 2020 with a £30bn package of measures which the Government has put together to support businesses and individuals.
HMRC are taking a sympathetic approach to businesses regarding their tax bills.
If you are self-employed there are allowable expenses which can deducted from your taxable profits to reduce your income tax bill.
The Self-Employed Income Support Scheme (SEISS) was launched in May 2020 to assist the self-employed at the onset of the Covid-19 pandemic.
Chancellor Rishi Sunak resisted the urge to raise taxes in order to start paying off the Covid-19 emergency support schemes which kept many businesses afloat during the pandemic. However, the cloud of increasing inflation looms.
Arranging your financial affairs as tax-efficiently as possible before the start of the new tax year on 6 April 2022 is arguably more important than ever.
Amid rising pressure to bring in significant relief measures to combat the current international emergency, Chancellor Rishi Sunak implied ahead of time that he could only do so much.
Because the Government has frozen the tax bands and personal allowance of individuals for the next four years, any extra income an individual gets may be taxed more harshly.
Following the market turmoil unleashed after Kwarteng's Mini Budget in October, all eyes were on Jeremy Hunt's Autumn Statement.
With the new year just around the corner and the tax return deadline fast-approaching...