The new tax year starts today

Happy New Year!

No I haven’t gone mad – we are still only just over 3 months into 2014 but today is the start of the new tax year ended 5 April 2015. That means you have a brand new set of personal allowances, tax rate bands, ISA and pension investment amounts to use.

For those who pay dividends on their companies it also means any higher rate tax on dividends declared now will be due a year later than on a dividend declared last week.

However before you launch headlong into 2014/15, please remember that if we do your 2013/14 self assessment tax return we need your information to the year to 5 April 2014  – the sooner the better once you have everything please.

tax year end find documents

 

It’s generally a good idea to have a place to collect it together throughout the year but I guess most of us are like the cartoon above and bits of paper are probably in a variety of places (hopefully not eaten by the dog!)

This cartoon comes from our new 2014 tax return pack and was commissioned by us from the incredibly talented Dave Walker. If you like his cartoons go to http://davewalker.cc/ to see more.

Our tax pack will be coming out to all our existing clients later this week. If you are not an existing tax client and want to know more about our tax services please contact me for more details.

Margaret

 

 

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