Pension holders are being urged to seek advice on their pensions as radical changes to tax allowance are set to take effect.
Reductions to the threshold available for relieved annual allowance and lifetime allowance for pensions will take place from the 6th April 2014, and are anticipated to impact over 300,000 UK pension savers.
The annual allowance for pension tax savings will be reduced from £50,000 to £40,000 in the coming weeks, with any sum over the new £40,000 limit liable to taxation at the rate of 40 per cent.
People who sell goods online are being urged to seek advice on paying tax on their profits ahead of imminent crackdowns by HMRC.
Since September 2012 online trading sites, such as eBay and Amazon, have passed on tens of thousands of members details to HMRC following a large-scale crackdown on traders who have failed to register their income.
South Wales Chartered Certified Accountants Morgan Hemp & Company, are urging online traders to act quickly and register themselves for tax before the next stage of the HMRC crackdown where traders who…
Commercial property owners are being urged to seek advice on vital tax relief that could save their business thousands before it is too late.
Reforms outlined in the Finance Bill 2012 take effect in April and will dramatically change the qualifying criteria for businesses to make claim to capital allowances on properties that they own or have significantly improved.
Most businesses and accountants claim capital allowances for computers, vehicles and tools of the trade, however, many do not recognise that these same allowances also apply to central heating, lighting and…
A leading UK gift company has been acquired by a South Wales based wholesaler in a deal that has secured jobs and paved the way for expansion.
Swansea based Something Different Wholesale Ltd has acquired Smiley Signs, securing five agent jobs and strengthening the wholesale businesses online presence and reputation as a leading UK figure in the supply of gifts and novelty items to trade customers worldwide.
Both businesses will continue to operate as separate entities but will share Something Different’s large warehouse and trade outlet on Swansea Enterprise Park.