April heralded the start of a new tax year and the appointment of Jennifer Long to the board of Directors. Jennifer has added valuable IT skills to the practice to enable us stay ahead in an ever-changing digital landscape.
In June, David, Chris, Sandra, Jennifer and Arnold visited Buckingham Palace for a date with Prince Charles. Their visit also included a viewing of the Birmingham Royal Ballet and after show dinner.
In July, Mark and Amy passed their UK certificate in Probate and Estate administration, adding to the existing authorised individuals in the practice. Further success wasn’t far away, with Alex completing his ACCA studies in October and Rebecca passing her final ACA exam in December.
In September, Sandra - our very own Indiana Jones - visited a client’s Malawi charity for a week, pro bono, to assess their systems and make recommendations for improvements. As much as she would have loved to have stayed, we needed her back for January’s tax returns!
2018 and our attentions turn to important areas for consideration
February normally gives us time to take a breath before any tax planning is put in place pre-5 April 2018. One area to consider may be to utilise the £5,000 dividends allowance for 2017/18 before this reduces to £2,000 on 6 April 2018.
Another area to consider in the new year is whether your will is up to date. Circumstances constantly change, and we suggest that you review your will on an annual basis to ensure your estate passes in line with your wishes. We are licensed to provide probate services and will help you plan for the future.
Although Making Tax Digital (“MTD”) has been deferred it’s still something which businesses should be thinking about before it becomes mandatory for their VAT obligations from April 2019.
The General Data Protection Regulations (“GDPR”) come into force on 25 May 2018. Failure to comply may lead to administrative fines of up to 4% of annual global turnover or €20 million – whichever is greater. If you hold individual data you will need to review your data protection policies to see if you will comply.
Finally, we wish you all a very happy new year. We thank you for your business and look forward to continuing working with you in the coming years.