Inspire Newsletter – November 2014
Welcome to the November 2014 edition of our Inspire newsletter.
Business Forums
We had high attendance at our October Business Forum on Tuesday, with Jane Michel from Emphasis giving everyone ideas for restructuring and motivating their teams.
Our November Business Forum is set to be our busiest yet with Rhys Herbert from Lloyds Bank discussing the 2014/15 economic climate. Please email [email protected] to reserve your place.
Accountancy Age Awards
At the end of the month our Directors will be attending the Accountancy Age Awards. We have been shortlisted for the South-West Independent Firm of the Year. This is our 8th year involved in the awards, so keep a look out across our social media channels to see how we do!
Each year Inspire sponsors the Rock Recruitment Awards, and judges the prize for Entrepreneur Star of the future. The launch begins this month as the look for the 2015 winners begins. For more information, or to apply for the award see here: http://bit.ly/1wXLJEW
Warren comments: “At Inspire, we specialise in working with and advising fast growing entrepreneurial businesses so have a real connection with this sector. We are excited to be involved with this category and to highlight the talented young entrepreneurs within the region.”
Enjoy this month’s newsletter and if you need further details on any of the topics covered, please do get in touch.
NO NIC DUE ON RENTAL INCOME
It is understood that HMRC believe Class 2 NICs also apply to buy-to-let landlords. This is not correct… Read more
USING THE NEW 2015 PENSION RULES FOR ESTATE PLANNING
From next year, individuals with a drawdown arrangement or with uncrystallised pension funds will be able to nominate a beneficiary to receive their pension when they die… Read more
NEW INTESTACY RULES IF YOU DON’T MAKE A WILL
Many people die intestate because they think their estate will automatically pass to their spouse free of inheritance tax (IHT). This is not necessarily correct… Read more
CORPORATION TAX QUARTERLY INSTALLMENT PAYMENTS
Companies with profits in excess of £1,500,000 a year are required to pay corporation tax on a quarterly basis… Read more
NIC ON SALESMAN’S COMMISSION
HMRC are understood to be increasing the application of an annual earnings period for other employees in cases where they suspect Class 1 NIC is being avoided… Read more
TAX DIARY OF MAIN EVENTS
FOR NOVEMBER/ DECEMBER 2014
1st November – Corporation tax for year to 31/01/14
19th November – PAYE & NIC deductions for month to 5/11/14
(22nd November if paid electronically)
1st December – Corporation tax for year to 28/02/14
19th December – PAYE & NIC deductions, and CIS return & tax
for month 5/12/14 (22nd December if paid electronically)
30th December – Deadline to file 13/14 SA tax return online if unpaid tax
(up to £3000) is to be collected via 14/15 PAYE code