News from your Accountants in Harrogate & Leeds

Keep yourself up-to-date on the latest accountancy news and information with our useful articles.

Making Tax Digital and The Cash Basis

May 19th 2017

Making Tax Digital (MTD) is an initiative by the Government to turn the UK into one of the most digitally advanced tax administrations. The proposals are far reaching and will ultimately affect all taxpayers.

New rules for salary sacrifice arrangements

May 19th 2017

Salary sacrifice arrangements used to be a cost efficient way of allowing employees to enjoy tax-exempt benefits without passing the cost of providing those benefits on to the employer. However, changes in the rules which came into effect from 6 April 2017 mean that salary sacrifice and flexible benefit schemes are no longer as attractive as they once were.

Pension allowances for 2017/18

May 19th 2017

Pension savings can be tax-efficient as it is possible to make tax-relieved contributions to registered pension schemes up to the higher of 100% of earnings and the available annual allowance. The annual allowance is set at £40,000 for 2017/18. To the extent that the annual allowance is unused, it can be carried forward for up to three years.

Tax due next month

May 19th 2017

Are you self-employed? If you are, you may need to make your second payment on account for 2016-17, due date for payment is 31 July 2017.

Tax Diary for May and June 2017

May 2nd 2017

Important tax dates for your diary:

Tour de Yorkshire Charity Challenge

May 2nd 2017

DSC Chartered Accountants were proud to be involved with the Berwins charity bike race last month.

Did You Know?...

May 2nd 2017

The DSC team are skilled at meeting the traditional accountancy requirements and deadlines that are required by law

Expenses and benefits for employees

May 2nd 2017

Until 2015-16, it was possible to apply for a dispensation to exclude certain expenses and benefits provided to employees from the year end returns to HMRC: primarily the submission of forms P11D.