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01/12/2014

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!

Cash Basis
From 6 April 2013 you can use two 'simplifications' to make accounting easier for your unincorporated businesses: the cash basis and fixed rate deductions. Read More...
 
R and D Enhanced Deductions
Companies (not unincorporated businesses), can claim enhanced deductions for qualifying costs they incur on research and development (R and D) projects. Read More...
 
Let Property - Repairs or Improvements
If you let out residential property you need to know whether you can receive a tax deduction for the cost of replacing or repairing furniture and fittings provided inside that property. Read More...
 
Let Property - Furniture and Fittings
When your property is fully furnished you can claim a wear and tear allowance (10% of the net rents), each year to cover the cost of replacing furniture and furnishings such as carpets and curtains. Read More...
 
December Questions and Answers Section
HMRC has reminded me to claim the employment allowance for 2014/15 worth £2000. My company doesn't pay any employers' NI on my very low salary, so I thought I couldn't claim the employment allowance. Read More...
 
December Key Tax Dates
19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/12/2014 Read More...
 
Autumn Statement 2014
Summary - The Chancellor of the Exchequer pulled out a few surprises in his Autumn Statement. Read More...
 
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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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