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We hope that you and your families are keeping safe during the lockdown, which started almost a week ago.  This situation is unprecedented in our history, and we know that many of our clients are struggling to know how they will find a way through this.  The government is continually changing its coronavirus relief measures, …

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Our office is closed but we are here to help you in whatever ways we can.  We know that the current coronavirus crisis presents very real difficulties for many of our clients.  We will be working from home, however we will continue to answer the phone and respond to emails, so please don’t hesitate to …

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You may be aware that Inland Revenue installed a major upgrade to their computer systems over the Easter period.  This upgrade will result in quite a few changes in the way we relate to IR, and to the information they provide us. It will take a while to work through exactly what this means for …

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Who is affected? Firstly, if you do not employ any staff, then this article does not apply to you. Payday filing is a new requirement from Inland Revenue for any employers who pay wages or salaries with PAYE deducted.  What is Payday filing? From 1st April 2019, Payday filing will be mandatory.  This means that …

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Ringfenced rental losses On 5th December 2018, legislation was introducedinto parliament that will “ring fence” losses from residential rental. properties.This change is likely to have a significant effect for some of our clients, andwe wanted to give you a heads-up. For tax purposes, losses will no longer be able to be offset against other income …

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From 1st April 2018, Inland Revenue will introduce the Accounting Income Method (AIM) for calculating provisional tax. Existing provisional tax system Provisional tax is a sort of “pay as you earn” system for people whose income is not taxed at source. Anybody whose net tax is greater than $2,500 for the year, must pay provisional …

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There are various reasons for setting up a family trust. One of the most common is to put your principal assets away somewhere “safe”, so if things go bad in future, at least your home and other investments will not be lost. The idea is that you would own no major assets, as they would …

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April 2017 is almost upon us, and for most of our clients this marks the beginning of a new financial year. Annual Questionnaires In the next couple of weeks, we will be sending out our annual questionnaire emails. These provide a link for you to log in and fill out our online annual questionnaire.  We …

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Do you like to give gifts of chocolate, wine, sweets or other edible goodies to your customers, suppliers or contacts? This is a great way to say thanks, or just to show you care. Well, Inland Revenue just made gifts of food or drink a little more expensive. Starting from 1st September 2016, Inland Revenue’s …

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“It is far better to foresee even without certainty than not to foresee at all.” — Henri Poincare When it comes to forecasting sales for the year ahead, it’s no mean feat, and that number you come up with can have a huge impact on your company. Many companies simply take last year’s figures and …

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