Self employed Versus Limited company
We are asked many times, with tax free dividends now at just £2,000 whether it is best to be self employed or Limited.
HMRC Anti Money Laundering Scheme (AMLR)
If you receive any large cash deposits into your business remember you have a duty to check the ID of the person in question as well as the origin of their money and if you have any doubts about your findings to report this to either PMC or HMRC.
April 2019 New Tax Allowances
From April 2019 the individual tax free personal allowance will be rising to £12,500 with the basic rate of tax allowance rising to £37,500.
Making Tax Digital for VAT, April 2019
From April 2019 you can no longer use the HMRC portal to file your VAT return and it must be filed through approved HMRC software.
Self assessment – paying your tax
Remember to pay your personal self assessment tax by the 31st January 2019.
Pension contribution increases
Auto enrolment Pensions. Please note that from April 2019 auto enrolment pension contributions will be increasing again.