Networking Breakfast for Businesses 6

Rothmans Accountants and Barclays Bank host Networking Event

Rothmans Accountants, one of the South’s longest-established accountancy firms, and Barclays Bank UK PLC have held a joint networking event for business owners in the region to find out more about making the most of the Making Tax Digital (MTD) initiative from HMRC and keeping digitally safe. The seminar took place at Ringwood’s multi-award-winning Hockey’s Farm Shop, named one of the UK’s Top 10 small shops last year, and also a long-term client of the Salisbury Rothmans office. Rothmans Ringwood manager, Sarah Cross, gave an ov...

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Rothmans Chartered Accountants new location for Ringwood office – and a familiar face returns

Rothmans Accountants have moved to new premises in Southampton Road following the retirement of Partner, Brian Corlett, after many decades of dedicated service to the firm. The office in the centre of Ringwood has continued to experience high demand for its services from long-standing clients, as well as from growing numbers of new clients in the area, says Rothmans Chartered Accountant, Sarah Cross, who now manages the Ringwood office, headed up by Partner Sue Sullivan. Sarah Cross says, “The icing on the cake for everyone is that our...

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BBC Radio Solent Listeners put their Taxing Concerns to Rothmans Expert

BBC Radio Solent listeners flocked to the phone lines to ask for advice from our Tax Partner, Julian Sims, when he made his most recent appearance in the ‘Ask the Expert’ slot on the daily morning show with Sasha Twining. Julian is a popular and regular guest on the show which sees him dealing with a variety of queries from callers. Perhaps unsurprisingly on this occasion, as April 6 approached, Julian was asked for advice on the penalties involved if tax returns included errors or omissions. Other wide-ranging topics included the tax im...

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Changes to Income Tax for 2019/20

The new tax year brings changes to income tax bands and allowances. The personal allowance is £11,850 for 2018/19 and increases to £12,500 for 2019/20. There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000. The reduction is £1 for every £2 of income above £100,000. So, for 2018/19 there is no personal allowance where adjusted net income exceeds £123,700. For 2019/20 there is no personal allowance available where adjusted net income exceeds £125,000. The marriage allowance permits cer...

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Delay to rise in probate fees

The government has delayed its planned increase in probate fees indefinitely. The delay has been attributed to ‘pressure on Parliamentary time’ caused by Brexit debates and votes. The increase in fees had been set to take effect from 1 April 2019, but HMRC recently made the decision to postpone the rise. Under government plans, the proposed probate fees are as follows: Value of estate (£) Proposed Fee (£) Up to 50,000 or exempt from requiring a grant or probate 0 50,000 - 300,000 250...

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Making Tax Digital for VAT - Update

As mentioned in our previous newsletters, HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the new rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using MTD-functional compatible software. The new rules are now live, having taken effect from 1 April 2019 where a taxpayer has a ‘prescribed VAT return period’ wh...

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