01204380038 syddall@pbsyd.co.uk

Other announcements

Charity taxation

From April 2019, the Government will introduce measures to reduce administrative burdens on charities. These include:

  • An increase from £5,000 to £8,000 in the upper limit for trading charities can carry out without incurring a tax liability where turnover is under £20,000 and from £50,000 to £80,000 where turnover exceeds £200,000.
  • Allowing charity shops using the retail gift aid scheme to send letters to donors every three years when their goods raise less than £20 a year, rather than every tax year.
  • An increase to the individual donation limit under the gift aid small donations scheme to £30, which applies to small collections where it is impractical to obtain a gift aid declaration.

Tax abuse and insolvency

Following royal assent of Finance Bill 2019/20, directors and other persons involved in tax avoidance, evasion or any act that is deemed unethical will be jointly and severally liable for company tax liabilities, where there is a risk the company may deliberately enter insolvency.

Get it on Google play Available on iTunes

 ICAEW

 

    Iris Logo      2020 Innovation logo 

BAS Logo        ACIE Logo Sage Accountants Club logoVouched For logo KashFlowQuickBooksXeroFreeAgent