16 February 2016
23 February 2016
23 February 2016
Kathy Cordery from Orpington, who was the winner of a competition held by top-20 accountancy firm, Wilkins Kennedy, has donated her prize money to the Royal National Lifeboat Institution (RNLI). Wilkins Kennedy ran a competition from 1st – 24th December, inviting entrants to guess the number of tax returns they think will be filed on Christmas Day 2015. The previous two years had seen record numbers sent in by Self-Assessors and 2015 proved to be the third record breaking year in a row, with 2,044 returns filed on 25th December. The winner was Kathy Cordery, who lives in Orpington and works at Bright Start Montessori pre-school in Locksbottom. She was the closest to the correct answer, with her guess of 2,050.
Government will publish its next Budget on Wednesday 16 March 2016.
Single-tier state pension replaces the basic and additional state pensions.
Annual allowance of £40,000 for tax relief on pension savings in a registered pension scheme is tapered down to a minimum of £10,000 for individuals whose annual income is more than £150,000 (including their own and their employer’s pension contributions).
From 1st April 2015 VAT law in connection with prompt payment discounts is changing. The changes will not only affect those businesses that offer prompt payment discounts to customers but also those who receive invoices offering a prompt payment discount.
The current VAT legislation is relatively simple with the amount of VAT declared on the invoice as well as the amount of VAT the recipient of the supply can treat as input tax being calculated on the discounted price.
The amount of VAT does not change even if the prompt payment discount is not taken up by the customer. - See more