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Wimborne Office: 01202 849169

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Hill Osborne announce the appointment of Sue Norman as new director

11/03/2019

Hill Osborne is pleased to announce the appointment of Sue Norman as a director of the firm. Sue will remain at the company’s Wimborne office at Beaufort House, Cornmarket Court, where she has been employed as office manager since 2014. Originally starting her career as a trainee management accountant, Sue qualified as a certified...

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Topping up your self-employed NIC contributions

13/03/2019

In many circumstances it can be beneficial to make voluntary Class 2 National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension if you are self-employed. You might want to consider making voluntary NICs because: you’re close to State Pension age and do not have enough...

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Lost your Unique Tax Reference number?

13/03/2019

Your Unique Taxpayer Reference (UTR) identifies your tax records at HMRC. The number is also known as your taxpayer number or tax reference number and should be used whenever you contact HMRC, or when you file your tax returns. The UTR is a unique 10 digit code. You are automatically given a UTR when you set yourself up to file Self...

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Treatment of deposits for VAT purposes

13/03/2019

As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when the deposit is received. It is important that businesses ensure that the VAT element of any deposits received is accounted for correctly. Usually this will mean that VAT is due on a deposit when it is received and not when the...

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What are the badges of trade?

13/03/2019

The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side line to a hobby. Careful consideration needs to be given when deciding if a hobby has become a taxable activity. It is clear from the significant amount of case...

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Sale of income by an individual

13/03/2019

A capital sum received by an individual in respect of the sale or relinquishment of income to be derived from his or her personal activities, can sometimes be treated as earned income and chargeable to Income Tax. If this is the case, the amount charged to Income Tax is not also charged to Capital Gains Tax. The following conditions must...

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Employee tax codes 2019-20

13/03/2019

The P9X form is used to notify employers of the tax codes to use for employees. The basic Personal Allowance for the tax year starting 6 April 2019 will be £12,500 and the tax code for emergency will be 1250L. The basic rate band is between £12,501 to £50,000 except for those defined as Scottish taxpayers who have a...

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Spring Statement - 13 March 2019

12/03/2019

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government uses the Spring Statement to respond to the most recent forecasts made by the Office of Budget Responsibility (OBR). In a nut-shell, the OBR forecast...

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Expenditure on building that qualifies as plant

11/03/2019

Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available to sole traders, self-employed persons or partnerships, as well as companies and organisations liable to Corporation Tax. Interestingly, the Capital Allowance legislation does not...

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Are you claiming the Marriage Allowance?

05/03/2019

HMRC has published a press release to remind qualifying couples to claim the Marriage Allowance. The Marriage Allowance allows lower earning couples to share part of their personal tax-free allowance. The Marriage Allowance is available to married couples and those in a civil partnership where one partner doesn’t pay more than the basic...

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Contact Us

Poole Office

Tower House, Parkstone Road
Poole, Dorset
BH15 2JH
Tel: 01202 678555

This email address is being protected from spambots. You need JavaScript enabled to view it.

Company Registration No: O7430971
VAT Registration No.107585703

Wimborne Office

Beaufort House, 2 Cornmarket Court
Wimborne
BH21 1JL
Tel: 01202 849169

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