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.
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.
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.
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.
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 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.
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.
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.
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.
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.
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.
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!
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.
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."
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.
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.
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!
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.
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.
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.
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.
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.
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.
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.
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.
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.
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
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.
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.
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.
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.
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.
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.
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!
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.
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.
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.
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.
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.
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.
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.
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.