Entries by Lisa Compton

The Brand new App from Liric

At LIRIC we are constantly looking for ways we can improve the service we offer our customers and we are proud to announce the launch of our brand new LIRIC App.  It’s completely free of charge and it’s available for iPhones, iPads and Android devices.   So the next time you need to look up […]

Spring Budget 2017

The Chancellor’s 2017 Budget contained some important announcements and confirmed a number of changes planned for the new tax year. There was both good and bad news for sole traders and small businesses in today’s Budget. Following this, we have put together a review which contains the latest tax and financial information, which we trust […]

Changes to Flat Rate VAT scheme

Following last years Autumn Statement, the government have issued their draft legislation detailing the changes to the Flat Rate Scheme (FRS). These will come into effect on 1 April 2017. If you are using the Flat Rate scheme for calculating your VAT it’s really important that you read the following information.  We will also be […]

Paying your self assessment tax – deadline 31 January 2016

HMRC will not be issuing paper statements and payslips to self-assessment taxpayers to remind them of the 31 January 2016 filing and payment date unless the taxpayer has filed their 2014/15 tax return by 31 December 2015, and has not opted for digital only communications from HMRC. HMRC will not be issuing paper SA reminders […]

Have you heard of the new Personal Savings Allowance (PSA)?

From April 2016 the new Personal Savings Allowance (PSA) will start. The PSA will apply to all non-ISA cash savings and current accounts, and will allow some savers to receive a generous portion of their interest totally free of tax. It’s expected that 95% of savings will no longer be taxed. Basic rate taxpayers will […]

Limited company or sole trader?

What is a Limited Company? A limited company is an organisation that you can set up to run your business – it’s responsible in its own right for everything it does and its finances are separate to your personal finances. Any profit it makes is owned by the company, after it pays Corporation Tax. The […]

RENEWALS BASIS IS BACK FOR BUY TO LET LANDLORDS

Following the restriction of tax relief for mortgage interest and the 3% increase in Stamp Duty Land Tax all is not doom and gloom for buy to let landlords. Following on from the consultation this summer the draft Finance Bill 2016 includes the legislation to reintroduce tax relief for the replacement of furnishings in buy […]

Auto Enrolment pensions

Pension Automatic Enrolment is with us and the staging dates for smaller companies are on the horizon. Between 2015 and 2017, over 1 million companies will be staging, which is a staggering 51,134 companies per month. There is a wealth of information available on the Pension Regulators website www.thepensionsregulator.gov.uk but we have summarised the key […]