Kirkpatrick & Hopes - Succession Planning Accountants

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18-04-2018
What you need to know about GDPR & HR

Oh yes, it’s another GDPR blog. Because let’s face it, now that the countdown is at just one month, it’s the only question on a lot of business owners minds. Many companies are focussing all of their efforts on their external data – the information ... read more

24-04-2018
Information Commissioner’s Office announces new lawful basis interactive guidance tool

Information Commissioner’s Office announces new lawful basis interactive guidance tool

The Information Commissioner's Office (ICO) has announced that it has produced a lawful basis interactive guidance tool to assist businesses in determining, which lawful basis is appropriate for their data processing activities. The tool requires ... read more

19-04-2018
Tax Diary May/June 2018

Tax Diary May/June 2018

1 May 2018 - Due date for corporation tax due for the year ended 30 July 2017. 19 May 2018 - PAYE and NIC deductions due for month ended 5 May 2018. (If you pay your tax electronically the due date is 22 May 2018) 19 May 2018 - Filing deadline for ... read more

18-04-2018
Renewing tax credit claims

Renewing tax credit claims

Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2018. Claimants who do not renew on-time may have their payments stopped. HMRC has started to send tax credits renewal packs to tax ... read more

18-04-2018
How much does Class 4 NIC cost?

How much does Class 4 NIC cost?

There are currently two types of national insurance contributions (NICs) payable by most self-employed people. These are known as: Class 2 NICs, and Class 4 NICs. Class 2 NICs are paid by all self-employed taxpayers unless they qualify for the ... read more

18-04-2018
Claiming for job related expenses

Claiming for job related expenses

Employees who use their own money to buy things they need for their job, can sometimes claim tax relief for the associated costs. It is usually only possible to claim tax relief for the cost of items used solely for work. There is no tax relief ... read more

18-04-2018
Don’t forget to handout P60s

Don’t forget to handout P60s

The deadline for employers to provide employees with a copy of their P60 form is by 31 May 2018. A P60 must be given to all employees that were on the payroll on the last day of the tax year – 5 April 2018. The P60 is a statement issued to employees ... read more

18-04-2018
What is a PET?

What is a PET?

Most gifts made during a person’s life are not subject to tax at the time of the gift. These lifetime transfers are known as 'potentially exempt transfers' or 'PETs'. These gifts or transfers achieve their potential of becoming exempt if the ... read more

18-04-2018
Non-resident landlord’s scheme

Non-resident landlord’s scheme

The Non-resident landlord (NRL) scheme is a special scheme for the UK rental income of non-resident landlords. This includes companies or trustees whose 'usual place of abode' is outside the UK. HMRC classifies a person living abroad for 6 months or ... read more

18-04-2018
Let property disclosure campaign

Let property disclosure campaign

Landlords that receive letting income should notify HMRC by 5 October after the end of the tax year for which you start to receive that income. So, for the 2017-18 tax year that has just ended, HMRC needs to be notified by 5 October 2018 of any ... read more