Tax Guides Edition 7 – Business Succession Planning

This guide explains the issues faced by business owners when an unplanned business exit is forced upon us and the contingencies we should all consider.

Later on in our series we will issue a guide covering a strategically planned or managed sale of a business.

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If you have any questions regarding this subject or any other accounting / tax issue, please feel free to contact us.

Posted in Tax

How to claim – £2k National Insurance Relief

Have you claimed your £2,000 NIC relief?

We have received a lot of questions on this topic. It’s not very often that the government give away money, so we just want to make sure that everyone is aware of this gift !  From 6th April almost all employers can reduce their employers class 1 National Insurance bill by £2,000.

Who can claim ?  Almost all companies that pay Class 1 NI on their employees or directors salaries.

How do I apply ? It’s easy ! All you need to do is claim through your 14/15 payroll software – most likely, it will just be a box you have to tick. Payroll clients of Baillie Accountants can rest assured, we’ll take care of it for you.

If you require more information, follow the link to the Government website at https://www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics, or contact us.

Tax Guides Edition 6 – Taxation of investments

The latest in our series of key guides explains how investments are taxed and in what order. The recent budget announcement brought good news for investors with improvements to ISA’s (Individual Savings Accounts), flexibility with private pensions and increases to Premium bond holdings. Standard savings rates are still poor but there are plenty of other options, some of which are touched upon in our guide.

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As always, if you have any questions, please contact us.