Tax Tips & News

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06/04/2020

April Tax Tips & News

Welcome to the Bambury & Co Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman. If you need further assistance just let us know or send us a question for our Question and Answer Section. We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year. Please contact us for advice on your own specific circumstances. We’re here to help!

The Bambury & Co App

As a firm we are constantly looking for ways we can improve the service we offer, and so we are proud to announce the launch of our brand-new App.  It’s completely free of charge to anyone and is available for iPhones, iPads and Android devices.

The App will give you access to key accounting data, in real time, whenever you need it, as well as a suite of powerful calculators.  It brings all the financial tools you use together into one easy to use app.

Save hours with these four powerful features:

  • Quick access to Cloud portals, tax data, calculators and more
  • Easy logging of you receipts with the powerful Receipt Manager
  • Track automatic mileage for business and personal trips with the automatic GPS Mileage Tracker
  • Keep updated on key tax updates and more via rapid Push Notifications sent direct to your device

Simply download the App by clicking on this link: https://app.bambury.info

Enjoy!

Please pass the link on to your colleagues at work, business associates, family, friends, etc. If you find the App useful, then I’m sure they will too.

Bambury & Co signs up with BrightPay

The plain fact of the matter is that email is not a secure method of transmitting data, especially the sensitive information found on payslips. And with data security of paramount importance to individuals and businesses, regulators are now cracking down on breaches of data protection.  Since 25 May 2018 the UK has had to apply the new EU General Data Protection Regulations (GDPR).  These will not be affected by Brexit.

Under GDPR not only are we responsible for how we hold and manage our clients’ payroll data, but also our payroll clients are responsible for how that payroll data is transmitted to their employees in the form of payslips, P60s, etc.

So we have opted to go for a self-service portal that can be accessed by both employees and employers.  Employees will be able to log in to their portal using their PC, Mac, tablet or smartphone and access and retrieve payslips and other documentation.  Employers can access an additional level of data.

We will shortly be writing to our payroll clients with further information about BrightPay.  Parallel testing of BrightPay with our current payroll software, Moneysoft, will take place in February and March with a view to going live with BrightPay on 1 April.

 

Homeworking flat rate allowances increased
HMRC have announced that it will increase the maximum flat rate tax deduction available where employees incur additional household costs where they work at home under homeworking arrangements Read More...
 
Reduction in the lifetime limit for entrepreneurs' relief
At Budget 2020 the Chancellor of the Exchequer announced that the lifetime limit of entrepreneurs' relief (ER) would be reduced from £10 million to £1 million Read More...
 
Changes to off-payroll working rules delayed until 2021
Amid concerns about their potential impact during the coronavirus pandemic, the government has announced a one year delay to changes to the off payroll working rules, due to take effect from April 2020 Read More...
 
HMRC urge people to prepare for CGT payment change
The amount of CGT payable on account is the amount after applying the applicable rate of tax to the net gain. Read More...
 
April questions and answers
My business imports goods from the EU. What is the current position regarding postponed accounting for VAT? Read More...
 
April Key tax dates
5- End of 2019/20 tax year. Last day to use up annual exemptions for capital gains tax, inheritance tax and ISA's Read More...
 
About Us

Bambury & Co Chartered Accountants are based in Bicester in North Oxfordshire.  As most of our work is carried out in the Cloud, we can offer a wide range of accountancy, bookkeeping, taxation and advisory services not only to local business owners and individuals but also clients based throughout the United Kingdom and in Europe. All clients are entitled to fixed fees, work delivered on time and unlimited email and telephone support.  Please visit our website www.bambury.info for more information.

We offer a full will writing and probate service through our associated company, Cracroft Wills & Probate Limited, including lasting powers of attorney and estate planning.  For more information please call us on 01869 222830.

 
 

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Bicester Innovation Centre, Telford Road, Bicester, Oxfordshire, OX26 4LD

Bambury & Co is a trading name of Bambury & Co Chartered Accountants