Happy New Year!

By Jeanette Brown

As the festive season draws to a close, thoughts will once again be turning towards the dreaded return to work (for those of us that were lucky enough to have the time off!). It’s normal at this time to have something to look forward to. From an accounting and finance point of view here’s our top 5 things to be happy about in 2018.

1 – There’s still time to put money into your ISA or Pension before the financial year end.

So if Great Aunty Hilda was kind enough to give you some pennies this Christmas, or if you’ve simply got some spare cash sitting around not earning very much interest,  you might consider topping up your ISA or Pension before 5 April 2018. But of course always check your allowances before doing so. Your local friendly Independent Financial Advisers at Dodd Wealthcare will be able to help you with this.

2 – Stamp duty abolished for first time buyers.

If you’re thinking about getting onto the property ladder then, thanks to the Autumn Budget, you’ll save the stamp duty on your first home, as long as it’s less than £300,000 (which in Cumbria is one heck of a first home!).

3 – You have a whole month to get your 2016/17 tax return to HMRC.

At today’s publishing date you still have a whole 27 days to get your tax return filed with HMRC. Not so much something to look forward to BUT you’d rather do that then get a fine wouldn’t you? If it really is something you dread then give us a call because tax makes (some of) us happy!

4 – No significant changes to personal tax rates.

And talking of tax, unlike our Scottish neighbours, there have been no significant changes to personal income tax rates for the 2018/19 tax year.

5 – Cloud accounting – and it’s not just accountants that are happy about this!

We’ve seen a huge increase in our clients getting on to the cloud. There are lots of pros (and very few cons) and many of our clients are already reaping the benefits. With MTD (Making Tax Digital) still in the pipeline, getting a head start on putting your accounting system on the cloud should definitely feature on your “to do” list for 2018. Our CAT (Cloud Accounting Team) are “purr”fectly placed to help you do this and entirely independent making sure the package is right for you and your business(es).

See – so January isn’t all doom and gloom!

Give us a call if you’d like to know more about any of the above.

01228 530913 or 01768 864466

 

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Oct 23

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