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when can I get tax relief on my mortgage payments?

It is only possible to get tax relief on mortgage interest, not any capital repayments. Where you have a repayment mortgage, you need to determine the interest element.

proposed uk residency changes

I have just been looking through the proposed rules for determining whether an individual is UK resident or not. The changes should make determining the residency status of someone a lot easier going forward. Whether or not this is a good move we will not know until the rules are fully in place but I do believe that it a positive approach to an area that has always been a bit of a minefield.

beware late filing penalties

If you prepare a paper tax return every year you need to be aware that from the end of October, if your tax return is submitted even a day late then you will be instantly hit with an £100 fine. This amount will go up by £10 per day if your return is filed more than three months late to a maximum of £900. After six months the penalty will increase even further by the larger of £300 or 5% of the tax due.

west sussex county times community awards

Applause filled Horsham’s Capitol Theatre last night as local heroes and organisations received recognition for their outstanding contribution to the community. The West Sussex County Times Community Awards Ceremony was a touching occasion and more than 20 deserving winners were presented with awards.

a charitable christmas

Crowds gathered in Horsham Carfax for the annual Charity Christmas Market on Sunday 27th November 2011. They enjoyed entertainment from the local Rock Choir and also took up the opportunity to ride on a traditional steam bus. The event was a great success as always and Spofforths Private Client Services was delighted to cover the hire cost for each stall.

handel, the messiah - alex spofforth

We were delighted to sponsor a performance of The Messiah at Chichester Cathedral on Saturday 17th December. The Hanover Band and Chorus, directed by Andrew Arthur, performed beautifully. The Messiah was composed by Handel in 1741 and is his best known choral work.

spofforths client competes in dancing on ice

Spofforths client Sebastian Foucan is taking part in the seventh series of
Dancing on Ice which launched on 9th January. The Frenchman founded
free-running and famously used his skills in the hit movie Casino Royale.

deadline extended for late tax return penalty appeals

It has been announced that HM Revenue & Customs will be extending the normal 30 day deadline to which tax payers can appeal late penalty notices to 31 March. This is to help with the expected increase in their phone lines over the next few weeks with some individuals not being able to get through to an adviser.

tax treatment for self-employed teachers

From 6 April 2012 self-employed teachers will now be regarded as such for both Income Tax and National Insurance purposes. This is a change from the previous treatment where you would have paid Income Tax under self-assessment but the school would have deducted Class 1 National Insurance through their payroll system.

fundraising success for winston's wish

The Winston’s Wish fundraising firewalk was a great success on Saturday 12 May and we helped to raise more than £4,500 for the leading childhood bereavement charity. Lady March, President of Winston’s Wish, kindly offered Goodwood Motor Circuit as the prestigious venue for the event which involved 26 firewalkers.

champion of champions

We are proud to support the Bowls England National Championships 2012 which take place at Beach Park House in Worthing from 13 to 26 August. For the third year running we are sponsoring the Men’s National Champion of Champions competition which is held on 16 and 17 August. It attracts hundreds of spectators as it involves the best male players from across the UK.

celebrations for a cricket legend

On 29 June my brother Mark and I will visit Lord’s to pay tribute to Fred Spofforth, the legendary ‘Demon Bowler’. Our distant relative who was one of the most popular players of the 19th century has been inducted to the ICC Cricket Hall of Fame. In honour of his contribution to the game we will be presented with a commemorative cap.

spofforths' employee brings home gold

Lisa John celebrated victory with Team England after they won a gold medal at the Women’s European Bowling Championships on 16 June 2012. The tenpin bowling stars took on Germany in the team final which was held at the Efteling Theatre in the Netherlands. Early on in the match Team England took the lead over Germany and they went on to secure a fantastic win. The final score was England 1049 vs Germany 919. Lisa had a fantastic game scoring 254 points, the highest in the team – Congratulations!

spofforths celebration at lord's

It was a real honour to visit Lord’s on 29 June 2012 and accept a posthumous International Cricket Council (ICC) Hall of Fame cap on behalf of Fred Spofforth, "the Demon Bowler", of Australia. The ICC invited my brother Mark and I to receive the commemorative cap as Fred has a common ancestry to us.

Gemma Spofforths shares her thoughts ahead of the 2012 Olympics

In the run-up to the opening ceremony of the Olympic Games on Friday 27 July, Gemma Spofforth told us: “I have received some lovely good luck messages from supporters across Sussex and these have given me a real boost this week. With the first round of 100m backstroke heats on Sunday I’m focused on my performance and making sure I feel familiar with the competition pool."

Extraordinary swim for Gemma Spofforth who came 5th in 100m backstroke at Olympics

Many congratulations to Gemma Spofforth who came 5th this evening at the 100m backstroke. She is a true inspiration overcoming so much heart break over the past eighteen months. Extraordinary and a lovely interviews with Mark Spofforth and Gemma by the BBC.

Gemma Spofforth training for 100m relay

The action at the London 2012 Aquatics Centre has been breathtaking over the past week, and after watching Gemma Spofforth compete in the 100m backstroke final we hope to see her race again. She is busy training with teammates in the pool and could be selected to swim in the Women’s 4x100m Medley Relay heats or even the final if Team GB makes it through. The relay team will be announced tomorrow morning, just before the heats at 11.35am.

Gemma Spofforth to compete in Olympic relay heats

We are delighted to confirm that Gemma Spofforth will compete in the Women’s 4x100m Medley Relay heats at the Olympic Park Aquatic Centre on Friday 3 August. The relay team has just been announced by officials and Gemma is already busy training. She will take part in the qualifying heats tomorrow morning and could go on to race in the final on Saturday. Good luck Team GB!

Gemma Spofforth makes women's 100m medley relay finals with Team GB

Gemma Spofforth has a strong swim in the GB women’s 100m medley heat this morning. Team GB finished in 6th position overall earning them a well earned place in the finals on Saturday.

Team Spofforths take up a Highland Challenge

Once again, Team Spofforths is set to take part in the annual Highland Adventure Race in aid of the Mitchemp Trust. From 8 to 9 September 2012, we will join forces with clients to compete against around 30 other teams in the Scottish Highlands. After a summer of intensive training we will cycle, hike and canoe 60 miles. It is a tough challenge and we were proud to come 4th in 2012 but we are ambitious and aim to win the race this year.

Richard Spofforth's Charity Cycle Challenge

From 8 to 16 September 2012 I will be taking part in the annual Deloitte Ride Across Britain and cycling along the iconic Land’s End to John O’Groats route. The challenge, in aid of the British Paralympic Association will take me across 960 miles of some of the most beautiful scenery Britain has to offer.

Champion of Champions

The Men’s National Champion of Champions Competition, during the Bowls England National Championships 2012, provided great entertainment at Worthing’s Beach Park House. We were proud to sponsor the event which attracted thousands of fans from across the UK. Spofforths partner Peter Hussey was delighted to watch the final and present Matt Coppen, a deserving winner, with his trophy. He beat Cambridgeshire's Robert Drew 21-17 in what proved to be an action packed game.

London 2012 Victory Parade

Mark Spofforth and family will join thousands of spectators to enjoy the Victory Parade for the Olympics and Paralympics in London later today. Stars of the Games are set to travel on open-top floats through the streets from around 1.30pm. It is proud moment for Mark as his daughter Gemma Spofforth took part in various swimming heats during the Games.

Richard Spofforth completes iconic Land's End to John O'Groats cycle ride

Richard Spofforth has just completed the gruelling Land's End to John O'Groats cycle challenge in aid of the British Paralympic Association.

Employee Shortlisted for Award

Lisa John, based at our Worthing office, has been shortlisted in the Woman of the Year Awards 2012. As a world-class tenpin bowler, she is in line to scoop the Sportswoman of the Year title. Lisa has been bowling for more than 20 years and has won many international championships. Ranked number 1 in England and 19 in the world, Lisa now has her sights set on winning the Commonwealth Championships in New Zealand in February. Lisa is a wonderful role model for young women today and has a great work-life balance.

Charities Benefit from Christmas Market

We are delighted that the Horsham Christmas Charities Market, on 25 November 2012, proved such a success despite some wet weather. The market was full of Christmas spirit as a number of charities set up festive stalls in the town and there was also great variety of entertainment. Heart Radio played music by the bandstand and visitors enjoyed rides on a traditional steam bus. The bus proved popular, generating £250 for charity. We were delighted to sponsor the event and hope that all the charities raised a good amount on the day.

Lisa John Strikes Again

Tenpin Bowling Champion Lisa John, a Spofforths employee, is celebrating after winning the English Open on 25 November 2012. The tournament was held in Nuneaton, Warwickshire, and Lisa played 20 mixed games. In the final round she faced a fellow Team England member, Nicki Ainge, for what proved to be a tough match. To mark her achievement, Lisa received a trophy and cash prize during a special awards ceremony.

repayment of expenses when working from home

With the first signs of snow this year already upon us there will no doubt be a number of people who will be forced to work from home to avoid the potential travel issues that arise. Reimbursing your employee for use of home expenses is possible however there are some tax issues that you need to consider. The repayment of expenses wholly for the purpose of an individual’s employment will not cause any tax issues. It is the expenses which are not being incurred in this manner that may result in additional tax payable. An example of where a tax charge may arise is in relation to costs such as broadband; where a line is not installed specifically for business use then the reimbursed payment, even if it is only a proportion of the cost of the employee, will be treated as earnings on the individual. The reimbursement of mobile phone costs can also be treated as earnings where the contract is in the employee’s name and a claim for the monthly standard charges is made.

Charity Firewalk Generates Vital Funds

Three brave fundraisers from Spofforths recently took part in a charity challenge and walked across hot coals, all in aid of the Dame Vera Lynn Trust for Children with Cerebral Palsy. Philip Lansberry, Director of Spofforths Private Services, Jake Standing and Maria Dean all enjoyed the experience. The charity event was held at Greets Inn, in Warnham, and our team raised around £390 for the Trust.

Renewals Basis for Furnished Property Lets

From 6 April 2013 HMRC intends to remove ESC B47, thereby removing the ‘renewals basis’ for replacing assets in a furnished property letting businesses.

Carers Can Benefit From Free Advice

The Alzheimer’s Society regularly holds Carers Support Groups at various locations in Sussex and throughout February Philip Lansberry from our wealth management team will be attending them.

Power of Attorney and Joint Accounts

Joint accounts are rightly popular as they allow two or more people to pay into and draw out of the same account. It is widely known that if one joint account holder dies the others can carry on using the account. Accounts in one name only are frozen when the account holder passes away

What is the Green Deal?

There are certain things in this world which are very rare indeed; hen’s teeth, a month of Sundays and the Government giving money away.

The Benefits of Decluttering

Spofforths Private Client Consultant, Kai Lei Lee, recently produced an article about the ‘essential spring clean’ and it features in the latest edition of Caring 4 Sussex magazine.

Do You Have Cash In The Attic?

Across the UK there are billions of pounds of financial assets lying unclaimed and although the figure has not been accurately defined; it is estimated at £15 – 20 billion!

Beyond the stereotype - understanding Autism event

The event is part of World Autism Awareness Day and will celebrate the contribution people with autism make to society and highlight untapped potential.

Budget 2014 – Excellent changes afoot for investors

The ISA regime is being simplified, to “combine” cash and share ISA’s so that from 1 July 2014 for the 2014/15 Tax Year a single. New ISA will be available with a limit of £15,000.

Budget 2014 - Greater Flexibility on Drawdown of Pensions

George Osborne is proposing to give much greater flexibility on drawdown of pensions effective from 27 March 2014.

Budget 2014 - Tax Anti-Avoidance Crackdown Continues

The Chancellor has announced the crackdown on marketed tax avoidance will continue. Participants in notified schemes will be required to pay the disputed tax “up front”. They can only recover this when the litigation concludes in their favour.

Spofforths Lisa John triumphs at European Championships

Lisa John from Spofforths' Worthing office recently took part in the European Women’s Tenpin Bowling Championships in Berlin, Germany. Lisa finished 3rd in the singles, 2nd in the masters.

Andrew Bernardi plays his Stradivarius Violin in Spofforths Horsham Office

This afternoon Bryan Elkins, Head of Spofforths Wealth Management Team was delighted to welcome Andrew Bernardi to the Horsham Office. Andrew delighted everyone by playing his priceless Stradivarius Violin dated 1696, the violin bow formerly owned by Lord Yehudi Menuhin.

Spofforths Star Lisa John to bowls at 2014 European Champions Cup

Lisa John from our Worthing office is in Iceland this week taking part in the European Ten Pin Bowling Champions Cup. After winning silver last year Lisa is hoping to go one better this time.

Horsham & District Dementia Open Forum - Friday 14 November

Dementia Forums are taking place across the County to look at how best to provide a more dementia friendly community. Now is the time for Horsham to look at how best to go forward this concept.

Philip Lansberry to talk at Friends of Park Surgery Meeting tomorrow

Philip Lansberry, Director of Spofforths Private Client Services, is speaking at the Friends of Park Surgery Autumn meeting on Wednesday 26 November 2014. The meeting is taking place at Lavinia House, Dukes Square, Denne Road, Horsham and doors open at 7pm with tea and coffee.

2015 budget date announced

The Budget will take place on Wednesday 18 March 2015

Success for Spofforths employee Lisa John at Irish Open Ten Pin Bowling Championships

Spofforths employee Lisa John had a good start to the 2015 bowling season at the Irish Open Ten Pin Bowling Championships held on 16 to 19 January at Leisureplex Stillorgan, near Dublin. Finishing 5th overall Lisa was the 2nd highest lady bowler and achieved the ladies high game.

Sound Advice from Philip Lansberry for BBC Radio Sussex listeners

Philip Lansberry, Spofforths Private Client Services, joined Danny Pike from BBC Radio Sussex earlier today to take part in his "Sound Advice" section of the show. Philip talked about paying for long-term care, wills and inheritance planning, Powers of Attorney and pensions.

Lisa John wins inaugural 2014 BTBA Tour Masters

It has been a great start to the year for Spofforths’ Lisa John who won the inaugural 2014 BTBA Tour Masters, held at AMF Nottingham on Sunday, 8th February.

West Sussex Housing and Care Options Forum

I have just attended a very positive Housing and Care Options Forum, chaired by David Sheldon, CEO Horsham Matters and County and District Councillor. Our aim is to improve the quality of life for older people of in the Horsham District.

Spofforths Bryan Elkins gives his thoughts on the pre-election Budget 2015

George Osborne will be presenting his pre-election Budget on Wednesday. This is unlikely to be the bearer of too much “bad news” as clearly he will not want to alienate voters prior to the election….indeed, it is often the case that such a Budget results in “sweeteners” to get voters on-side!

Spofforths fundraise for Red Nose Day

Spofforths partners and employees raise funds on Red Nose Day.

Budget 2015 - Personal Savings Allowance

A new Personal Savings Allowance is to be introduced, whereby every individual will be entitled to receive interest of up to £1000pa (or £500 if you pay tax at the 40% rate) without paying tax.

Spofforths sponsor Shipley Arts Festival 2105

Spofforths are delighted to be one of two headline sponsors of the Shipley Arts 2015.

The misconception of a Will and why it really is important

The main reason why you should ensure you have an up to date Will is so you can have peace of mind that the people you want to leave your property and possessions to actually do get them.

Fantastic 2015 Shipley Arts Festival opening concert at Windlesham School

The opening concert of the 2015 Shipley Arts Festival was held on Sunday 26 April at Windlesham House School’s Malden Theatre. The evening was a wonderful success with performances from The Gifted and Talented String Academy together with pupils from the Yehudi Menuhin School.

Success for Spofforths Lisa John at Welsh Open

Spofforths’ Lisa John took part in the Welsh Ten Pin Bowling Championship 2015.

Pension Changes announced in Budget

The Lifetime Allowance for pensions is to be reduced from £1.25M to £1M from April 2016 and then indexed annually in line with the CPI from April 2018.

Big changes for non-UK domiciled individuals

From April 2017 the government intends to bring all UK residential property held directly or indirectly by foreign domiciled individuals into charge for UK IHT, even if the individual is non-UK resident at the time of their death.

Increased tax free Personal Allowances

The tax free Personal Allowance is set to increase to £11,000 in 2016/17 (and £11,200 in 2017/18). This tax free amount is reduced for taxable income in excess of £100,000, with the Personal Allowance fully retracted for taxable income in excess of £122,000 in 2016/17.

Summer Budget Report 2015

We have prepared this summary to outline the issues that are most likely to be of interest to you. We have included informative comments to help you assess the likely effect that the proposed changes may have on you personally and their significance.

If you have a question concerning any of the issues covered in this summary, or would like advice on the best possible course of action in a particular area, please contact us.

Summer 2015 Budget Roundup

The Summer Budget has introduced a number changes to the UK tax system. The Chancellor vowed to put “Security First” in the first pure Conservative budget since 1996.

Alex Spofforth joins client Don Wales at Pendine Sands for Blue Bird anniversary

Alex Spofforth was at Pendine Sands yesterday, 21 July, to see our client Don Wales magnificently drive his grandfather’s Sunbeam 350HP v12 fuelled car Blue Bird along the beach in front of a large crowd.

Dying without a Will (intestate)

It is only on a rare occasion that the names of Picasso, Amy Winehouse, Abraham Lincoln, Bob Marley, Martin Luther King Jr and Kurt Cobain can be seen in one sentence. Where is the connection? All died intestate, without having written a Last Will and Testament. Research shows that as many as 35% of adults over 55 in the UK are yet to write their Will.

HMRC Issues Phishing Scam Warning

A new phishing scam has recently been identified in the form of an email claiming to be from HM Revenue & Customs (HMRC) using the subject of “Complaints”. As with most of these scams, the attachment contains malware and should not be opened.

Stamp Duty changes for landlords

The Chancellor has announced that from 1 April 2016 people purchasing additional properties such as a buy to let or second home will pay an additional 3% SDLT charge. This is on top of the interest relief changes announced in the Summer Budget.

The Chancellor has completed his Autumn Statement.

The Chancellor has completed his Autumn Statement.

HMRC gone phishing?

Phishing is the fraudulent act of emailing a person in order to obtain personal or financial information. HMRC has issued guidance to help recognise fraudulent emails.

British Airways join Spofforths on board the Brighton i360

Earlier in the year, we were delighted to be confirmed as the accounting partner for the i360 observation tower and now BA has been unveiled as main sponsors on the newly named British Airways i360 observation tower, currently being constructed in Brighton.

HMRC stop sending paper self-assessment reminders for January 2016 deadline

HMRC will not send paper statements or payslips to self-assessment taxpayers to remind them of the 31 January 2016 filing and payment deadline.

Rise in landlords setting up companies to own by to let residential properties

Recent changes to property taxation has resulted in an increase in the number of companies being incorporated to own residential Buy-To-Lets.

Spofforths partner Bryan Elkins talks to Sussex Life about the Chancellors recent announcements

In the January issue of Sussex Life Bryan Elkins talks to Sussex Life about the surprises and changes announced by the Chancellor.

Are you supporting a vulnerable or disabled person?

Philip Lansberry, Spofforths Private Client Services, has written an article for the January edition of Holbrook Pages regarding supporting a vulnerable or disabled person.

Spofforths client British Airways i360 reaches major milestone

We were delighted to see Spofforths’ client British Airways i360 start the year in an exciting and dramatic way as the last section of glass was lowered into place to complete the pod. It's another huge milestone completed for the project and it takes them one step closer to their launch later this year.

Capital Gains Tax - reduction in rates of tax

In a surprise announcement the Chancellor announced a reduction in the rates of Capital Gains Tax (‘CGT’) applying to disposals made on or after 6 April 2016.

New personal allowance and higher rate tax threshold 2017

The Chancellor announced that the personal allowance for the 2017/18 tax year will be set at £11,500. In addition the basic rate tax threshold will increase to £33,500. No higher rate tax will be payable by individuals who have taxable income of less than £45,000.

Lifetime ISA

George Osbourne announced in his speech today that a new Lifetime ISA will be introduced from April 2017.

No changes to pensions

As was well publicised in the press before the Budget, despite a detailed review of tax treatment of pensions and pension contributions, no further changes were announced.

Chancellor announces Loans to Participators tax rate increase to 32.5%

From 6 April 2016, the tax rate on loans by close companies to participators will increase from 25% to 32.5% and it will be pinned to the higher rate of Income Tax on dividends.

New higher rate Stamp Duty Land Tax (SDLT) on residential properties

The Chancellor confirmed that following the consultation on this issue no reliefs will be made available for large residential property investors on these new higher rates.

Tackling Tax Avoidance and Evasion

Yet again the Chancellor has linked Tax Avoidance with Tax Evasion which is clearly incorrect – Avoidance is legitimate arrangement of your tax affairs whereas Tax Evasion is illegal!

The Budget 2016

George Osborne presented the first Spring Budget of this Parliament on Wednesday 16 March 2016.

Spofforths partner Mark Spofforth is declared High Sheriff of West Sussex

We are delighted to announce that Chichester partner Mark Spofforth has been appointed the High Sheriff of West Sussex for 2016. The declaration ceremony took place yesterday, on the 23rd March, at Lewes Crown Court where Mark was formally declared into his position.

Spofforths apprentice wins award

Inspirational speakers and an outstanding achievement award ceremony were part of Northbrook College’s National Apprenticeship Week celebrations recently.

Spofforths support Steyning Festival 2016

We are delighted to be supporting the Steyning Festival 2016 by sponsoring “The Lost Railway”, an evocative journey on The Steyning Flyer, with rare archive film showing life on the line connecting Shoreham to Horsham. You can see full details HERE.

Spofforths Sponsor Kidenza Concerts Aimed to Inspire a Young Generation

We are delighted to announce that we will be sponsoring a series of classical concerts run by Kidenza for young children. The fun classical concerts are performed by professional musicians with lots of changes for audience participation inspiring creativity and confidence. The Kidenza concert , Carnival of Animals, will be coming to Christ’s Hospital Theatre in Horsham on 18 June.

Kreston Reeves team quiz Prime Minister David Cameron about the EU

On Monday 13 June, members of our team took part in a question and answer session with Prime Minister David Cameron, as the ongoing debate surrounding the EU referendum intensifies.

Spofforths are proud supporters of @GiveBloodNHS missing type campaign

The missing type campaign was officially launched on 16 August and is aimed at encouraging people to register as blood donors.

Received your A level results - what next?

Are you thinking about a career in accounting? We are looking for talented people.

We support "Remember a charity in your Will week"

Spofforths Private Client Services are proud to support for ‘Remember a Charity in your Will Week’ (12 – 18 September 2016). The week, organised by Remember A Charity, aims to increase awareness of the importance of charitable legacies, and encourage more people to think about including a good cause in their Will, after they have looked after family and friends.

Spofforths trading as Kreston Reeves from January 2017

Following the merger of Spofforths and Kreston Reeves in June this year, Spofforths will trade as Kreston Reeves from January 2017.