Our offices will be closed from midday on Friday 22nd December 2017 until 8:30am on Tuesday 2nd January 2018. If you have an urgent query, please contact your client service partner who will respond as soon as possible. Kreston Reeves Financial Planning will be open and available on 01227 818441 throughout the holiday period (excluding bank holidays).
As Christmas draws nearer and the nights grow colder the number of charity adverts and fundraising pleas has begun to increase. Whilst Christmas may seem like an odd time to ask for donations, given the expense most people incur on presents, dinner and all that goes with the festivities, it is an important time for charities.
We were delighted to be able to sponsor the first Sussex Economic Forum which was held in Brighton at the Hilton Metropole on Thursday 16 and Friday 17 November 2017. The sponsorship of the event was led by Senior partner Andrew Griggs, Brighton partner Alison Jones and manager Dan Daly.
HMRC’s Executive Chairman, Edward Troup, has recently warned taxpayers that HMRC will not compromise when taking action against them if HMRC believes additional tax is due. Taxpayers should expect HMRC to maintain its increasingly hard-nosed attitude in any upcoming investigation.
As with most things, appropriate advice when making a decision can add value and this is particularly important when drawing your retirement benefits. The average life expectancy for both males and females is now in to their late 80s and whilst some individuals are having to consider working longer, the retirement period is likely to be the longest holiday of their life.
As a result of the EU’s Fourth Money laundering Directive, HMRC have recently introduced a Trust Register. The register will be an online record of all trusts subject to UK taxes. The register will contain details of the trustees, settlor, beneficiaries and trust assets.
With tax rates and allowances changing annually we consider how much an SME shareholder might extract from their company without incurring any liability to either income tax or national insurance…whilst still protecting their entitlement to a state retirement pension (yes, something for nothing!).