Apr 2018 – Stockport Business Awards 2018 Now Open for Entry

Entries for the Stockport Business Awards are now open. Businesses within the Borough of Stockport will have the opportunity to enter one or more of the 12 categories for a chance to win at this years awards dinner which will be held on Thursday 11th ...
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Mar 2018 – VAT Goes Digital

The Government’s aspiration for the UK tax system is that all taxpayers should submit their accounts information to HMRC directly from accounting software. The first step towards this brave new digital world will be taken by VAT registered businesses. From 1 April 2019, VAT registered ...
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Mar 2018 – Elect in Good Time

Events don’t always turn out as expected. For example, you may need to wait for a later profit or loss to arise before you can judge whether it’s right to elect to change the tax treatment of an earlier transaction. This is why the law ...
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Mar 2018 – Stockport Business Awards Launched!

Main sponsors and organisers, Clarke Nicklin Chartered Accountants, hosted the launch of the Stockport Business Awards on Thursday 22nd March. The event was held at The Light Cinema in Stockport where attendees were treated to a screening of highlights from last year’s awards dinner, which ...
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Mar 2018 – Cash & Finance Costs

Individual landlords of residential properties are subject to two new tax rules from 6 April 2017: a restriction on deducting interest costs, and the ‘cash basis’ for accounts where the property business has a turnover of no more than £150,000. The cash basis has the ...
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Mar 2018 – Keep In Mind Tax When Preparing Your Will

When you die, your executors or relatives need to sort out your affairs. This stressful task can be made easier if you leave a clear and up-to-date Will which has been drafted with tax in mind. They also need to pay inheritance tax (IHT) if ...
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Mar 2018 – A Family View

In the UK, everyone is taxed as an individual, but social security benefits, including Tax Credits and Universal Credit, are awarded on the basis of the family's total income. Child benefit is also withdrawn based on the income of the higher earner of a couple, ...
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Mar 2018 – Avoid A Late Filing Penalty

If you are slow in submitting your tax returns, you will get a late filing penalty. Say you miss the deadline for filing your self-assessment tax return (31 January for online filing) you will be charged a £100 penalty. Where the tax return is for ...
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Mar 2018 – Clarke Nicklin Boost Corporate Finance Team with New Hire

Lisa Clarke, who joins the business as Corporate Finance and Advisory Senior, previously worked as Business Partnering Senior in her former role. Lisa brings a wealth of experience and comments “I am absolutely delighted to be joining the team at Clarke Nicklin and look forward ...
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Mar 2018 – Max Out Your State Pension

If you are yet to reach state pension age (SPA), you will need to have accrued 35 complete years of National Insurance Contributions (NIC), to receive the full state pension. To receive any UK state retirement pension, you need at least 10 complete NIC years ...
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Mar 2018 – Innovate to Accumulate

Companies which invent new production methods or products can claim enhanced tax relief for the research and development (R&D) costs. Small and medium sized companies can claim 230% of qualifying R&D costs, and a 14.5% payable tax credit if this extra deduction results in a ...
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Mar 2018 – Give & Save – Giving to Charity Under Gift Aid Can Result in a Win/Win

Giving to charity under Gift Aid can result in a win/win for both the donor and the charity. If your total income is above the higher rate threshold (£45,000 for 2017/18 or £43,000 in Scotland), making a Gift Aid donation will reduce your tax bill ...
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