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Make School Holidays Easier With Tax-Free Childcare

Did you know there is a government scheme available that can help contribute towards childcare costs which may mean fewer of your employees will need time off at the same time this summer. Tax-Free Childcare is a scheme available to working parents with children from 0-11 years and many parents are not taking advantage of […]

Read more July 9th, 2019

Staff Summer Party Can Be A Tax-Free Benefit

Your organisation may have an annual Christmas party for staff, but the tax rules also allow staff parties at other times of the year which are a tax-free benefit as long as certain conditions are satisfied. The exemption applies to an annual party (e.g. a Christmas party), or similar annual function (e.g. a summer barbecue), […]

Read more July 9th, 2019

Stamp Duty Land Tax – Recent Rulings

In a recent ruling, HMRC has lost a case at the tax tribunal where the higher stamp duty rate was not payable. So what happened? A couple purchased an uninhabitable property so completed the Stamp Duty return on the basis that they would only pay a stamp duty bill of £1,500. However, when HMRC received […]

Read more July 4th, 2019

Are You Ready Making Tax Digital (MTD)?

The first quarterly returns to be submitted to HMRC under the Making Tax Digital regime will be for the quarter ended 30 June 2019. Now is the time to make sure you are fully signed up and your software is activated ready for the submission which will be due by the 7 August 2019. Our […]

Read more June 21st, 2019

Focus On Managing Your Energy, Rather Than Your Time

You can only spend your time in a productive, effective manner if you have enough energy to do so. Most people respond to the increasing demands in their day to day jobs by putting in longer hours. This takes a toll on us physically, mentally and emotionally. Over time this can lead to increasing levels […]

Read more June 21st, 2019

Setting Up A New Hire For Success

No one has a bigger impact on a new employee’s success than the manager who hired them. Here are some tips on how to set your new hires up to succeed. Investing time in onboarding brings new employees up to speed faster, which means they’re more quickly and efficiently able to contribute to the business. […]

Read more June 21st, 2019

Connect Effectively In The Digital Age

It’s time to rethink how we connect with customers, suppliers, colleagues and the business community. The way we work is becoming increasingly digital. Today it’s pretty normal to work remotely at least one day per week and this is just the tip of the iceberg. As the future of work looks set to become more […]

Read more June 21st, 2019

Reporting The Issue Of Shares Or Options To Staff

Gifts and awards of shares in companies, often known as employment related securities (ERS) are commonly used by employers to reward, retain or provide incentives to employees. They can be tax advantaged or non-tax advantaged. You must notify HMRC of all new ERS schemes including one-off awards or gifts of shares by 6 July following […]

Read more June 10th, 2019

Some Cars Only Qualify For 6% Tax Relief Now

The latest Finance Act has reduced the tax writing down allowance for motor cars that emit more than 110 grams of CO2 to just 6% on a reducing balance basis from April 2019. In the case of company cars, the vehicle is included in the “special rate” pool which means that even when the car […]

Read more June 10th, 2019

Doctors Lobbying For Pension Tax Changes

Hospital doctors and GPs are lobbying the government to amend the pension tax rules as the current system of restricting tax relief on pension contributions means many doctors paying almost all of the extra salary back in tax if they take on additional responsibilities or work additional shifts. This is an issue that doesn’t just […]

Read more June 10th, 2019

Request That The Pension Charge Is Paid By Your Fund By 31 July

The Pension Annual Allowance tax charge depends on the individual’s marginal rate of tax. Where their income exceeds £150,000 it would be at 45%. Thus if the pension input for 2018/19 Was £40,000 and the limit is tapered to £10,000, the excess of £30,000 would incur a £13,500 tax bill on top of their normal […]

Read more June 10th, 2019

High Income Child Benefit Charge And State Pension

Last month we looked at tax planning to minimise or eliminate the high income child benefit to keep both husband and wife (or civil partners) looking after a child below the £50,000 threshold. Where the income of one of the individuals exceeds £60,000 such that the whole of the child benefit is taxed they may […]

Read more June 10th, 2019

Making Tax Digital (MTD) Is Here!

Making Tax Digital (MTD) for VAT has been a long time coming. It is now here, as of 1 April 2019, and will be impacting any businesses with a VAT period that starts on or after 1 April 2019 with turnover above the VAT Threshold of £85,000. For most businesses, this will be their first […]

Read more May 31st, 2019

Our New Smartphone App

Shapcotts Accountants are proud to announce the release of our new smartphone app. The app is available on both iTunes and the Google Play store, please find links at the end of the article. The App gives you easy access to the latest news and updates for you and your business, as well as help […]

Read more May 31st, 2019

Delivering Customer Value

Understanding what your customers really value can help you to market your products and services more effectively. Customer value is the perception of what a product or service is worth to the customer. Customers don’t buy features – they buy benefits. Your customers will buy your product or service because of the benefits that they […]

Read more May 30th, 2019