News

NEW RESTRICTION FOR THOSE IN PENSION DRAWDOWN

One of the measures affecting pensions announced in the Spring 2017 Budget that was not included in the first Finance Act, concerns a new £4,000 pension input limit for those who are drawing income from their money purchase pension fund.
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PASSWORD SECURITY

Every day, we read stories about the latest business to suffer from a cyber attack. Businesses install quality security software and password protected servers to guard against cyber threats. However, the weakest link in your IT security could be your employees and the strength of the passwords they use to log in to your systems.
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CROYDON GOOD EMPLOYER

We are delighted to announce that Bryden Johnson have been accredited as a Croydon Good Employer! As an accredited Good Employer we are part of the Good Employer Network. As members of the Network:
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ARE SPOUSES WAGES FULLY DEDUCTIBLE?

HMRC have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HMRC that the amount allowed as a deduction should be limited based on the hours spent and appropriate rate for the work done.
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THERE MAY BE MORE TAX TO PAY ON YOUR DIVIDENDS IN JANUARY

The rules for taxing dividends changed radically from 6 April 2016 with the removal of the 10% notional tax credit and the introduction of new rates of tax on dividends. For many taxpayers there will be more tax to pay on those dividends on 31 January 2018.
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RECLAIMING FOREIGN VAT ON EXPENSES

f your business has suffered VAT on expenses incurred in another EU country, for example overseas hotel and restaurant bills, then it is possible to reclaim the foreign VAT.
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WHEN IS A COMPANY VAN NOT A VAN?

The P11d benefits on company vans are generally much lower than company cars and where private use of the van is merely incidental to its business use by the employee, then there is no taxable benefit at all. But when is a van not a van?
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ARE SPOUSES WAGES FULLY DEDUCTIBLE?

HMRC have recently won a tax tribunal case where they were seeking to challenge the deduction for a wife’s wages in arriving at the profits of her husband’s business. The judge agreed with HMRC that the amount allowed as a deduction should be limited based on the hours spent and appropriate rate for the work done.
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BRYDEN JOHNSON TEAM NEWS

This month we celebrated the 20 year work anniversary of one of our valued team members. Jeannette Storey, our Internal Accounts Manager has played an integral part in the smooth running of Bryden Johnson for many years showing dedication and commitment throughout whilst always doing it with a smile.
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THE CROYDON EXCELLENCE AWARDS 2017

Bryden Johnson are delighted to be attending the Croydon Excellence Awards Dinner which takes place on the 5th October at the Grand Sapphire. The evening promises to be a great success, with the winners of the Awards being announced alongside some great entertainment and a charity auction.
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TRIVIAL BENEFITS

Remember that from 6 April 2016, benefits are exempt from tax and NICs if all the following conditions are satisfied:
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IS YOUR COMPANY CARRYING OUT RESEARCH AND DEVELOPMENT?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to obtain advance assurance that the R&D activities are eligible to make a claim.
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NEW COMPANY LOSS RULES TO GO AHEAD

The Finance Bill due to be debated in early September will finally include the new rules for the set off of company losses that were originally announced in March 2016.
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