Two newly-published reports are focussing minds on how much we all need to save for retirement, says Stephen Metcalf of Lovewell Blake Financial Planning.
In the first three parts we have introduced the concept of personal cashflow planning, and seen how it has helped Joe and his wife Jessie face unforeseen events, pay for their son Johnnie’s education, and stay on track for a comfortable retirement.In this part we see how the online planning tool can help them achieve that goal.
On 12 February 2024, HMRC issued new tax guidance on the tax treatment of double cab pick-up trucks, which classified them as cars, opposed to commercial vehicles, for benefit in kind (BIK) and capital allowance purposes.
From 6 April 2024, tax law is being changed resulting in the profits businesses are taxed on being brought in line with the tax year, rather than aligned with their accounting period.
Last week, HMRC published their draft rules and restrictions on contracted-out R&D and overseas workers. Overseas expenditure draft guidance has remained relatively similar to its original however there has been some significant and promising changes to contracted-out R&D compared to previous communications from HMRC.
In parts one and two, we saw the value of personal cashflow planning for our case study, Joe. In this part, we find him married with a baby.
Chartered accountants Lovewell Blake has appointed Simon Watson as senior partner, replacing Mark Proctor, who is stepping down after three years in the role.
Taxable benefits and expenses must be reported on forms P11D by 6 July following the end of the tax year.