Jackson Stephen Blog

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This is where we air our opinions or pass on our thoughts and comments on occasion, when the mood takes us. Usually about business matters, it must be said.

The general idea is to disprove the notion that accountants say nothing at dinner parties! We have even been known to be amusing! Read on.

Advisory Fuel Rate For Company Cars

These are the suggested reimbursement rates for employees' private mileage using their company car from 1 December 2019. Where there has been a change the previous rate is shown in brackets.

23-Dec-2019

Conservative Party Elected With Working Majority

Now that Boris Johnson and his Conservative party have won the General Election will we finally “Get Brexit Done”? More importantly, can the Government now get on with running the country and sorting out urgent issues such as the NHS and infrastructure plans?

23-Dec-2019

Diary Of Main Tax Events - January/February 2020

23-Dec-2019

Don't Forget There May Be Tax To Pay On Your Dividends In January

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers that means more tax to pay on dividends on 31 January each year.

23-Dec-2019

Finance Bill Should Now Proceed

Now that the General Election is out of the way, the tax changes in the draft Finance Bill scheduled to take effect from April 2020 are now more likely to go ahead.

23-Dec-2019

Gifts Out Of Surplus Income

There is currently a very generous exemption from inheritance tax for regular gifts out of income. In order to qualify for the exemption it is important to set up regular transfers and to be able to prove that after those regular gifts you are left with sufficient income to support your normal lifestyle.

23-Dec-2019

New Year's Resolutions To Save Tax

At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April.

23-Dec-2019

Passing On The Family Home

The Labour party were proposing to reverse the recent Tory party inheritance tax cuts if elected. They were referring to the additional nil rate band for passing on the family home. This additional relief should be taken into consideration when drafting your Will and we can work with you to make sure your Will is tax efficient.

23-Dec-2019

Pension Planning

For most taxpayers the maximum pension contribution is £40,000 each tax year, although this depends on their earnings.

23-Dec-2019

Planned Corporation Tax Cut Scrapped

Prime Minister Boris Johnson announced at the CBI conference in London that the planned reduction in the Corporation Tax rate to 17 per cent from April 2020 will be scrapped for the time being.

22-Nov-2019

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