December Newsletter

Welcome to the December edition of our newsletter, the final release for 2013. We hope that you find the content of the newsletter both interesting and useful - please feel free to forward the email to friends or colleagues.

We'd like to take this opportunity to wish you a very Merry Christmas and a Happy New Year.

The Health and Wellbeing Tax Plan

The Health and Wellbeing Tax Plan was launched by HMRC in Oct 2013, offering health professionals a chance to bring their tax affairs up to date.


Green Energy: Tax Implications

Solar panels and wind turbines are both excellent ways of generating your own 'green energy' with the potential of selling some of this energy back to the suppliers - but what are the tax implications of these technologies and the energy they generate?


Invoice Factoring

Invoice financing or factoring is a popular method of regulating a business' cash flow, allowing for a release of the book debts quicker than you may receive from your customers.


Christmas tax tips: Parties, bonuses and gifts

With the festive period looming, find out where you stand when it comes to tax issues relating to Christmas parties, staff gifts and seasonal bonuses.


Doctors Finance: The Lifetime Allowance

The Lifetime Allowance is the total amount that you can build up from all your pension savings in your lifetime without incurring a tax charge. If you exceed the limit, lifetime allowance tax is charged on any excess over the lifetime allowance limit.


Doctors Finance: Pension Annual Allowance

The annual allowance is the maximum amount of tax free growth your pension savings can grow in one year. If you exceed the annual allowance you may have to pay any excess at your marginal rate of income tax.


Important Dates

19/22 December - PAYE/NIC and CIS deductions due for month to 5/12/2013

30 December - Deadline for 2012/13 self assessment online returns to be filed if you are an employee and want tax underpaid to be collected by adjustment to your 2014/15 PAYE code (for underpayments of up to £3000 only)


The information contained in this newsletter is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.
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