Happy New Year – or at least Happy New Tax Year!

For many, it is indeed a happy new year ….

If you are able to do so, you can put another investment into your ISA – the government revamped the ISA scheme, introducing a New ISA (NISA) for cash and stocks and shares with a £15,000 annual limit. The limits for Junior ISAs/Child Trust Funds to be increased to £4,000 per annum.

And of course, there is a new personal allowance of £10,000.

And not forgetting the employers allowance of £2000 to offset against their employer’s national insurance contributions which will be a big help to small employees.

If you pay tax under CIS and want to know if you are due a tax refund, then get your paperwork to your accountant as soon as possible. It is never too early to start preparing for your SA tax return.

If any of these items are something you are struggling with this, or any other accountancy issues, we can help – just give us a ring.