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01/08/2019

August Tax Tips & News

Welcome to the Davies Tracey Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Dividend allowance

Many family-owned companies allocate dividends towards the end of their financial year and/or the tax year, which means that the impact of the reduction in the dividend allowance from £5,000 to £2,000 from 6 April 2018 is only now starting to Read More...

HMRC consultation on Partial Exemption and Capital Goods Scheme

At Spring Statement 2019, the government announced that it would launch a call for evidence exploring ways to improve the operation of Partial Exemption (PE) and the Capital Goods Scheme (CGS), following the findings of the 2017 Office of Tax Simplificati Read More...

The correct way with directors' NICs

In certain situations the non-cumulative nature for calculating employee Class 1 National Insurance Contributions (NICs) makes it possible to manipulate earnings to reduce the overall amount payable by taking advantage Read More...

Changes in accounting for VAT after prices are altered

HMRC have published Brief 6 (2019), which explains changes to the rules on accounting for VAT, where the amount paid changes after the VAT has been accounted for to HMRC from 1 September 2019. Read More...

August questions and answers

A few years ago I bought an antique chair for £3,500. I have recently been offered £8,000 for it. Will I have to pay capital gains tax if I Read More...

August Key tax dates

2 - Deadline for PAYE settlement agreement for 2018/19 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/8/2019 Read More...

About Us

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Based in the Tees Valley, supporting clients in the northern region and beyond, our team delivers everything you would expect from first-class accountants. Our services aim to help our business clients to achieve greater profitability, and our individual clients to enjoy greater wealth.

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Davies Tracey is a trading name of Davies Tracey Limited