![David Lester (senior partner at Blythe Liggins), Darryl Barnes, Jagdeep Sandher (head of dispute resolution at Blythe Liggins)[4]](https://d1d8vslyhr7rdg.cloudfront.net/Pictures/274x183/4/2/8/116428_davidlesterseniorpartneratblytheligginsdarrylbarnesjagdeepsandherheadofdisputeresolutionatblytheliggins4_981603_crop.jpg)
Louis Baker
- Feature
Devil in the detail of autumn statement
Chancellor George Osborne’s autumn statement contained important changes for law firms.
- News
Planning for tax-year end
The government has announced that it will be reducing the top rate of tax from 50% to 45% for those on incomes over £150,000. This change, along with forthcoming changes to pensions contribution reliefs, means that you should review the reliefs on offer to make sure you’re minimising your tax ...
- News
31 July tax payment issues
The second instalment of 2011/12 tax is due to be paid on 31 July 2012. In normal circumstances, these payments are calculated as 50% of a partner’s 2010/11 tax liability. However, if a partner’s 2011/12 tax liability is anticipated to be lower than for 2010/11, then interim instalments based ...
- News
Pension lifetime allowance election deadline – 5 April 2012
The ‘lifetime allowance’ is the maximum amount of value that you can accrue within your pension schemes without suffering an additional tax charge on extraction. The lifetime allowance for a partner’s pension pot from all pension sources (excluding state pensions) is currently £1.8m, but this is being reduced to £1.5m ...
- News
Act now to avoid a budget-day headache
Speculation has been rife in recent weeks that tax relief on pension contributions could take a hit in the budget next week.
- News
Unlocking lock-up days
Lock-up is not something firms can afford (literally) to stick their heads in the sand about, yet the number of firms struggling with lock-up (unbilled work in progress plus debtors excluding VAT) is staggering.
- News
Your personal new year financial review
In his November Autumn Statement, chancellor George Osborne confirmed the difficulties the economy faces and effectively emphasised the need for partners to reappraise their financial planning and the tax-efficiency of their finances. There is no better time to do this than at the start of the new year! Here are ...
- News
Late-night taxis to keep on running
The government has changed its mind about abolishing the tax relief for late-night taxis, so black cabs will keep on running for employees of law firms.
- News
Pension contributions and pension input periods
Late last year new rules were announced relating to tax relief on pension contributions from 6 April 2011.
- News
Better several months too soon for tax returns
It’s never too early to start thinking about the 2010/11 tax year and the 31 January deadline for tax returns that seems to creep up on us faster and faster each year.
- News
Personal tax planning for partners: additional considerations
A few weeks ago, I addressed the topic of year-end personal finance planning, with a specific focus on pension contributions and tax relief.
- News
Resolve now to beat the January 2012 cashflow crunch
The date 31 January is usually a firm’s tightest cashflow point, with partners’ tax, a quarter’s VAT and quarter’s rent all payable within five weeks of each other in most cases. Exacerbated by the fact that cash in-flows are usually very quiet in December and January, firms often face a ...
- News
Impact of the VAT rise on law firms
On 4 January 2011 the standard rate of VAT will rise from 17.5% to 20% – the third change in the standard rate in the last two years. This impending rise may have prompted some savvy partners to buy their new refrigerators or computers now instead of next year, but ...
- News
Time for partners to focus on personal finances
The current climate has led many legal partners to rethink their plans for saving for the future. Now more than ever, with the Christmas break right around the corner and tax returns due in January, many partners will be reflecting on their personal financial plans and approaches to any further ...