Page 8 - Hunstanton Town & Around - January 2016

8 Hunstanton Town & Around January 2016 Tel: 01485 533422 email: editor@townandaround.net
Dates & Deadlines! Have you filed your Inheritance Tax – Deeds of Variation: The Government will not now
introduce new restrictions on how Deeds of Variation can be used for
2015 Tax Return yet? . tax purposes but intends to continue to monitor their use.
Digital Tax Accounts: Every business self employed individual and
Kathryn Gigg, Chartered Accountants, Hunstanton
landlords will have their own digital tax account by 2020 and be
31 January required to update HMRC quarterly.
INCOME TAX: SELF ASSESSMENT FILING AND Mrs K H Gigg FCA
PAYMENT DEADLINE: Caution: The information listed above is for general guidance only. You should
neither act, nor refrain from action, on the basis of any such information. You
Filing deadline for 2014/15 personal, partnership and trust returns filed should take appropriate professional advice on your particular circumstances
online, or for paper returns which cannot be filed online (e.g. if you because the application of laws and regulations will vary depending on
work for the Royal Estate). particular circumstances and because laws and regulations undergo frequent
Those who did not file their paper return by 31 October 2015 will incur change. Whilst I endeavour to ensure that the information contained herein is
£10 daily penalties if they do not file by today. File electronically, by correct, neither I nor my firm shall be liable in damages (including, without
today, to avoid a penalty. limitation, damages for loss of business or loss of profits) arising in contract,
Please telephone us if you require any assistance with filing your tort or otherwise from any information contained in it, or from any action or
2015 Tax Return. At this late stage, we cannot guarantee that it will decision taken as a result of using any such information.
© Kathryn Gigg 2016
be filed ahead of the submission deadline but our advice may be
invaluable in ensuring that you make constructive progress in
bringing your tax affairs up to date. Please contact us on 01485
534800 or email kate@kathryngigg.co.uk.
Balancing payment for 2014/15 and first payment on account for
2015/16 due today.
Deadline to amend a 2013/14 tax return, if relevant.
Deadline to file an outstanding 2013/14 tax return to avoid a tax geared
penalty.
Deadline to file an outstanding 2011/12 return to displace a CHARTERED ACCOUNTANTS | BUSINESS ADVISERS | TAX CONSULTANTS
determination.
NIC: last day to claim a repayment of Class 2 NICs for 2014/15 if Offering a comprehensive range of services for both business
your earnings were below the exception limit. and personal clients
Deadline to notify liability to Class 2 NICs where your self annual accounts and business taxation
employment began in 2014/15 tax year, to avoid a penalty.
CLAIMS & ELECTIONS: 31 January 2016 is the deadline for business start up, advice and management support
numerous self assessment claims and elections. Please contact us to management accounts, budgeting and forecasts
discuss if you require advice in this regard e.g. Loss Relief Claim.
COMPANY ACCOUNTS: private companies with 30 April 2015 SAGE installation and training
year-ends should file their accounts at Companies House.
CORPORATION TAX: returns for accounting periods ended 31 payroll, VAT and bookkeeping services
January 2015 should be filed with HMRC by today. personal tax returns and self assessment advice
GIFT AID: Individuals should make a claim to backdate gift aid
donations, by today, in certain circumstances to benefit from a higher small business specialists
rate of tax relief. free initial consultation
TAX CREDITS: last day to renew tax credits for 2015/16 (if the 31
July 2015 deadline was missed and as the claimant you can show good fees agreed in advance
cause) or to provide final income figures for 2014/15 (if renewal was
done by 31 July 2015 using an estimate). For an appointment please contact:
Snippets from the Chancellor’s Mrs K H Gigg FCA on 01485 534800
Autumn Statement 2015: THE OFFICE, 20 KING’S LYNN ROAD, HUNSTANTON, NORFOLK PE36 5HP
T: 01485 534800/535100 F: 01485 534900 e: kate@kathryngigg.co.uk
Tax Credits: No cuts in working or child tax credits for 2016/17 with www.kathryngigg.co.uk
the taper rate and thresholds unchanged.
Regulated for a range of investment business activities by
State Pension: The new single tier state pension will be set at £155.65 The Institute of Chartered Accountants in England and Wales.
p.w. from next year.
Capital Gains Tax: A payment on account will be due 30 days after THE VERY BEST CARPET AND
the disposal of any residential property liable to CGT from April 2019. OVEN CLEANING IN NORFOLK
Currently the payment period is between 10 and 22 months.
Stamp Duty Land Tax: SDLT rates on “additional” properties such
as Buy To Lets and second homes will increase by 3% from April 2016.
Small Business Rate Relief: The SBRR scheme used by around
600,000 businesses nationwide will be extended for another year from
1 April 2016. Visit us online at: www.carpet-cleaning-kingslynn.co.uk
Apprenticeship Levy: A levy of 0.5% of payroll costs will be or: www.oven-cleaning-kingslynn.co.uk
introduced in April 2017 but each employer will have a £15k allowance
to offset the levy, so this will only affect employers with a wage bill in
excess of £3m.
Extending Averaging for Farmers: From April 2016 the averaging
period for self employed farmers will be extended from 2 to 5 years,
with the farmers having the option of either. So stop putting it off - call now
ISA Subscription Limit: Will remain the same @ £15,240 for 01485 609223 E mail: mike@cleantech-norfolk.co.uk
2016/17.