• Swindon & Wiltshire Experts
• Thursday December 18 2014

An open letter to Father Christmas from Banks BHG

Dear Santa,

Looking at your records for 2013/14, it’s possible you can claim annual investment allowance (AIA) on a new sleigh, and it’s also possible – and we’ll need to look into this further – that the herd basis can be applied to your stock of reindeer.

You’re an employer, so we need to work out your staging date for auto enrolment; your extensive workforce of elves may mean your date is in 2015, and you need to prepare now to ensure you’re fully compliant and are enrolling them in a workplace pension.

Finally, Santa, don’t forget your tax return. There are just seven weeks left until these have to be filed, but since you always have an extended holiday from December 26, you’ll need to get it in sooner rather than later.

Penalties for not submitting the tax return will remain even if there is no tax liability due so now is the time to forward the outstanding details so that the forms can be completed, approved and filed before the 31 January and the tax situation confirmed.

Who knows, if you send the information quickly, Santa may be able to drop off the form on his rounds at Christmas!

For more words of tax wisdom, please contact Paul Gosling on 01793 839977 or by emailing paul.gosling@banksbhg.com