October 2015 Tax Tips & News

To October’s Tax Tips & News, our newsletter designed to bring you tax tips and news to keep you one step ahead of the taxman.

If you need further assistance just let us know or you can send us a question for our Question and Answer Section.

We are 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 in your own specific circumstances. We’re here to help!

Changes to NICs for the Self-employed


From 2015-16 onwards, the collection of Class 2 contributions will be through the self-assessment system. This means that Class 2 NICs can now be paid together with income tax and Class 4 NICs in one chunk on the 31 January following the end of the relevant tax year. In the past, most people have paid Class 2 contributions monthly by direct debit. Following the final payment in July 2015, HMRC have cancelled such direct debit payments, ready for the switch over to the new system of payment under self-assessment. However, those who wish to continue paying their contributions more regularly can set up a Budget Payment Plan (assuming they are up to date with their self-assessment payments) and make payments weekly or monthly by direct debit in advance of the payment deadlines. Further information on Budget Payment Plans can be found on the Gov.uk website herehttps://www.gov.uk/pay-self-assessment-tax-bill/budget-payment-plan.

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October 2015 Newsletter


“All that glitters is not gold!” Wow, what a fabulous venue the Tower Ballroom is! Decked out in gold, with a very Art Deco feel, everyone dressed elegantly and with a buzz of anticipation, the ballroom had a luxury feel about it. Were we about to breathe in the sweet taste of success? Alas no – not this year, but there’s always next! We are not easily put off and remain very proud to be finalists in the Professional Services category for 2015. Onwards and upwards!

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