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01/12/2019

December 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!

Tax-free Christmas parties

Whilst the tax legislation does not include a specific allowance for an employer providing a Christmas party for employees,HMRC do allow limited tax relief against the cost of holding a social function for employees, Read More...

Proposals to pay doctors’ pension tax bills: update

In an attempt to encourage working overtime shifts, doctors have been promised that their tax bills for higher rate pension relief will be covered by the NHS. This development follows the refusal by doctors to work overtime because of tax penalties receiv Read More...

Should I register for VAT?

In broad terms, and subject to certain exceptions, a business will be required to register to charge and pay VAT once annual sales reach a pre-set annual threshold, which is currently £85,000. This threshold is determined by total sales and is not t Read More...

Should I incorporate my business?

As things currently stand, the expected cut in the main rate of corporation tax to 17% from April 2020 is unlikely to happen, but current corporation tax rates remain pretty favourable. There are also other areas where company formation may help save tax. Read More...

December questions and answers

Q. Do all assets qualify for the capital allowances Annual Investment Allowance? Read More...

December Key tax dates

19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/12/2019 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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