May Newsletter

Welcome to the monthly newsletter from Slaters.  It's our aim to keep you up to date with our latest news, as well as what’s happening in the market place.

If you have any questions or need to speak to a member of the team then please do not hesitate to contact us on 01782 566101

Are you the Single Director of your Company?

From the 6 April this year, limited companies where a Single Director is the only employee paid will no longer be entitled to claim the Employment Allowance.

Tax and Interest implications of new accounting rules 

The introduction of a new accounting standard (FRS 102) means that some of the figures in your accounts may need to be restated and these changes may have tax implications including interest free and director loans.

Pensions Freedom update

According to HMRC figures over 230,000 people have used the new pension freedoms introduced one year ago and accessed over £4.3 million in pensions saving - are you one of them?

VAT fuel scale charges

HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2016.
Read the full details from the Government website.

Savings allowance

A new savings allowance is available to basic and higher rate taxpayers for 2016/17. The amount available depends on the individual’s circumstances.

Read our full summary to see if you're affected.

Tax Diary

Click here to view the key dates in the Tax Diary for May and June.
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