Archive for 10/01/2019

EU Exit preparations for UK traders – Tax agent blog 13735 620x413

EU Exit preparations for UK traders – Tax agent blog

HMRC are advising businesses to continue to get ready in the event that the UK leaves the EU without a deal. A letter sent in December set out three actions that businesses who currently only trade with the EU need to take to continue to trade after 29 March. They are: Register for an EORI number www.gov.uk/hmrc/get-eori Decide how to make customs declarations Check the information you’ll need for safety and security declarations If you have clients that trade with the EU only, then you can help them prepare by making sure they have...

Pension savings – changes to Annual Allowance helpsheet Woman thinking 12565 620x413

Pension savings – changes to Annual Allowance helpsheet

We get lots of questions from agents asking what information is needed with regards to pension savings on the Self Assessment tax return. Customers who exceed their annual allowance need to tell us on their Self Assessment Return. It’s in the ‘Pension Savings Tax Charges’ section on page Ai 4 of the additional information pages. Customers with a charge may opt for their scheme to pay it. This still needs to be recorded on their tax return but it’s important that the correct boxes are used to make sure they pay the right amount of tax....