{"id":2810,"date":"2016-02-12T00:00:00","date_gmt":"2016-02-12T00:00:00","guid":{"rendered":"http:\/\/hebblethwaites.wpengine.com\/index.php\/march-yearends\/"},"modified":"2016-02-12T00:00:00","modified_gmt":"2016-02-12T00:00:00","slug":"march-yearends","status":"publish","type":"post","link":"https:\/\/hebblethwaites.com\/index.php\/march-yearends\/","title":{"rendered":"March yearends"},"content":{"rendered":"<p>\n\tIf your company has a 31 March yearend, you only have a few weeks to consider available planning options that may save you tax for the current financial year 2015-16. There are also a number of practical matters that should be considered. They include:<\/p>\n<p>\n\t<strong>Directors<\/strong><\/p>\n<ul>\n<li>\n\t\tAre there any monies owed to the company by directors?<\/li>\n<li>\n\t\tIf the amounts owed exceed &pound;10,000 has interest been charged on any balances owing? If not, beneficial interest will need to be declared on form P11D for 2015-16.<\/li>\n<\/ul>\n<p>\n\t<strong>Dividends <\/strong><\/p>\n<ul>\n<li>\n\t\tIs the correct paperwork in place: dividend vouchers and board minutes?<\/li>\n<li>\n\t\tHave dividends been paid out of distributable reserves?<\/li>\n<li>\n\t\tHave all dividends voted been paid or credited to a loan account?<\/li>\n<\/ul>\n<p>\n\t<strong>Salaries<\/strong><\/p>\n<ul>\n<li>\n\t\tWere any outstanding salaries or bonuses claimed in the 2014-15 accounts paid within 9 months of the year end? If not, the deduction for corporation tax will be disallowed.<\/li>\n<li>\n\t\tHave bonuses been considered for 2015-16? Would it be prudent to defer voting bonuses to assist with personal tax planning issues? For example, reducing taxable income for 2015-16 may save tax allowances if the intended bonus increased total income above the critical &pound;100,000 ceiling.<\/li>\n<\/ul>\n<p>\n\t<strong>Company car users<\/strong><\/p>\n<ul>\n<li>\n\t\tHave steps been taken to recover the full cost of any private fuel paid to company car users during 2015-16? This needs to be completed by 5 April 2016 to avoid possibly significant car fuel benefit charges for the employee and NIC Class 1a contributions for the company.<\/li>\n<\/ul>\n<p>\n\t<strong>Pension contributions<\/strong><\/p>\n<ul>\n<li>\n\t\tMake sure that any company contributions for 2015-16 clear the company bank account before the yearend.<\/li>\n<\/ul>\n<p>\n\t<strong>Deferring significant costs or fixed asset investment<\/strong><\/p>\n<ul>\n<li>\n\t\tConsider deferring or bringing forward, significant revenue costs (for example allowable repairs to plant or other equipment).<\/li>\n<li>\n\t\t&nbsp;Consider deferring or bringing forward, significant capital costs (for example equipment or commercial vehicles).<\/li>\n<\/ul>\n<p>\n\t<strong>Losses<\/strong><\/p>\n<ul>\n<li>\n\t\tConsider tax strategies to take advantage of past or current year losses.<\/li>\n<\/ul>\n<p>\n\tThis list is by no means conclusive. Please contact us if you would like to set-up a planning meeting. The sooner the better &ndash; the clock is ticking&hellip;<\/p>\n<!-- -->","protected":false},"excerpt":{"rendered":"<p>If your company has a 31 March yearend, you only have a few weeks to consider available planning options that may save you tax for the current financial year 2015-16. There are also a number of practical matters that should be considered. They include: Directors Are there any monies owed to the company by directors? [&hellip;]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[1],"tags":[],"class_list":["post-2810","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2810","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/comments?post=2810"}],"version-history":[{"count":0,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/posts\/2810\/revisions"}],"wp:attachment":[{"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/media?parent=2810"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/categories?post=2810"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hebblethwaites.com\/index.php\/wp-json\/wp\/v2\/tags?post=2810"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}