TEL: 020 8732 5500
Email: mail@simiawall.com
Devonshire House, 582 Honeypot Lane Stanmore Middlesex HA7 1JS
Sir Robert Peel House 178 Bishopsgate London EC2M 4NJ

News

Updated calculator on calculating holiday entitlement

05/12/2019 – The Government has published a revised holiday entitlement calculator, intended as a temporary replacement while the original calculator “undergoes maintenance”, to enable workers to calculate the minimum statutory annual leave they should receive based on their time in employment. The calculator is accompanied by online … More...

Shared parental leave entitlements

04/12/2019 – The shared parental leave and pay rules offer working parents’ far greater choice as to how they share the care of their child and take time off work during the first year of their child’s life. The rules apply equally for children that have been adopted. There are various work and pay criteria that must be met in order to be … More...

Child Benefit tax charge

04/12/2019 – The High Income Child Benefit tax charge could apply to you or your partner if either of your individual taxable earnings exceeds £50,000 and you are in receipt of child benefit. The charge effectively claws back the financial benefit of receiving child benefit either by reducing or removing the benefit entirely. If you or your … More...

Loss of tax personal allowance

04/12/2019 – If your income is expected to exceed £100,000 for the first time, we would like to remind you of the effects this can have on your personal allowance and marginal tax rate. If you earn over £100,000 in any tax year, your personal allowance is gradually reduced by £1 for every £2 of adjusted net income over … More...

New advisory fuel rates published

04/12/2019 – Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel. HMRC accepts there is no taxable profit and no Class 1A … More...

Accounting periods if company has two or more trades

04/12/2019 – A tax accounting period for Corporation Tax purposes cannot exceed a 12 month period. If company accounts cover less than 12 months then the accounting period will normally end on the same day, and thus will be shorter than 12 months. This can happen if the company stops trading or shortens its company’s year-end: also known as its … More...

Income excluded from property business

04/12/2019 – HMRC publishes a list of income streams that are excluded from a UK property businesses' taxable income. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and tenants in your own home, extra services to tenants and letting surplus trade accommodation. In most cases the income from these … More...

When Inheritance Tax applies to pensions

04/12/2019 – Inheritance Tax (IHT) is levied on a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. The rate of Inheritance Tax payable is 40% on death and 20% on lifetime gifts. There is a nil-rate band, currently £325,000 below which no Inheritance Tax is payable. A … More...

Tax Diary December 2019/January 2020

28/11/2019 – 1 December 2019 - Due date for Corporation Tax payable for the year ended 28 February 2019. 19 December 2019 - PAYE and NIC deductions due for month ended 5 December 2019. (If you pay your tax electronically the due date is 22 December 2019) 19 December 2019 - Filing deadline for the CIS300 monthly return for the month ended 5 December … More...

Affected by the recent floods?

27/11/2019 – The Government has put a number of emergency flood measures in place to help those affected by the recent devastating floods. This includes 100% council tax and business rates relief and emergency funding from the Department for Business, Energy and Industrial Strategy. Affected taxpayers should also contact the Business Payment Support … More...

Contact Us

Stanmore:
Devonshire House
582 Honeypot Lane
Middlesex   
HA7 1JS   
 
Bishopsgate:
Sir Robert Peel House
178 Bishopsgate   
London   
EC2M 4NJ

Follow Us

 

Accreditation