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SKY Business News

Fines for failing to wear a face mask in shops in England
Mon, 13 Jul 2020 20:35:00 +0100

Face coverings must be worn in shops and supermarkets in England from Friday 24 July, Boris Johnson has announced.

Final decision expected on Huawei's involvement in UK 5G network
Mon, 13 Jul 2020 14:35:00 +0100

The British government is expected to take a new and final decision on the future 5G network today, further restricting the involvement of the Chinese telecoms firm Huawei.

Return to economic health unlikely amid lockdown uncertainty
Mon, 13 Jul 2020 18:51:00 +0100

For employers and employees these are challenging and confusing days.

G4S to cut more than 1,100 jobs
Mon, 13 Jul 2020 11:47:00 +0100

G4S has announced plans to cut up to 1,150 jobs through a shake-up of its cash-handling business in the UK.

Quiz suspends supplier over living wage allegations
Mon, 13 Jul 2020 07:09:00 +0100

Shares in fashion retailer Quiz have plunged by more than a fifth after it said it had suspended a supplier over allegations a sub-contractor failed to meet National Living Wage rules.

Personal Tax

Personal tax (income tax and capital gains tax) is arguably the most understood of all of the taxes, as most of the population pay it in a very visible way. Since the introduction of self assessment, the self employed, the employed, investors and trusts all need to understand the new rules, to minimise their overall tax exposure.

If you are selected by the Inland Revenue to fill in a self assessment personal tax return, because you are self employed, a higher rate taxpayer, a director, a property investor, or another reason, you need to make sure that this return correctly discloses all taxable income sources and claims all valid tax deductions.
Specific areas which we are typically asked to advise on include:

Disclosing and then agreeing your personal tax liability with the Inland Revenue is principally achieved by the completing and filing of a self assessment tax return..

Understanding this complicated tax system and paying the minimum amount of personal tax, at the correct time, through the correct mechanism, should satisfy our client.  We may even be able to suggest ways to restructure your affairs to save further tax.

Gorman Darby & Co Ltd
Registered in England & Wales under number 5750702. Registered office is 39 Hatton Garden London EC1N 8EH.