Optimum Tax and Accounting

05/10/2022

Following another year of rapid growth, Optimum needs some more admin support. If you’re looking for a role of 2 or 3 days per week, flexible hours to suit, please do get in touch.

29/09/2021

Yes, we’re recruiting again. This time, looking for a part time Admin Assistant to do 2 days a week at our office in Fordingbridge. Must have previous admin experience and have a good knowledge of Microsoft Word. Pay is up to £12 per hour depending on experience. We look forward to hearing from you.

24/08/2021

The latest data has shown a rise of £500million in inheritance tax receipts between April and July 2021, compared to the same period last year. This is due to a NIL rate band freeze. Should you wish to discuss your options please book a meeting with Martin our resident Chartered Tax Advisor who will be more than willing to assist you.

Leading brand for international independent financial advisers, wealth management professionals serving expatriate and cross-border clients worldwide.

30/03/2020

The government has pledged lots of money to help support businesses. Please find all the information here

https://www.gov.uk/government/publications/guidance-to-employers-and-businesses-about-covid-19/covid-19-support-for-businesses

If you need any assistance understanding what you might be eligible for please contact us, we might be able to help.

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26/03/2020

We appreciate during this uncertain time tax might be the last thing on your mind, however we think this might be a good time for a 'spring clean'. Have a think about your finances and if you have any questions please contact Martin who will be running our monthly tax clinic over the phone on 01425 656688. Martin has over 30 years experience in tax and would be more than happy to help you keep as much of your profits as possible.

09/03/2020

The UK's leading share index is facing its worst day since the financial crisis after £130bn was wiped off the value of top shares in early trading.

The dramatic drop follows global falls as a row between Russia and Saudi saw oil prices plunge by more than a fifth.

Shares were already reeling from fears of the impact of the coronavirus as cases globally continue to rise.

The day has already been dubbed "Black Monday" by analysts who described the market reaction as "utter carnage".

Oil prices are down more than 20% with Brent crude trading at $35.98 a barrel.

"It shows a level of nervousness in the market which I haven't seen in a long time," said Justin Urquhart-Stewart, co-founder of Seven Investment Management.

Investors are selling stocks at such a rate because they cannot quantify what Saudi Arabia and Russia might do, he said.

Oil firms Shell and BP both fell 15%.
extracted from BBC news

06/03/2020

The official rate of interest will fall from 2.5% to 2.25% from 6 April 2020 as provided for in The Taxes (Interest Rate) (Amendment) Regulations 2020, SI 194/2020.

The official rate of interest is used to calculate the tax charge on beneficial loans and the taxable benefit of some employer-provided living accommodation.

If an employer makes a loan to an employee at an interest rate less than the official rate, the employee is charged to tax on an amount based on the official rate less any interest paid. Some loans are exempt (broadly, those qualifying for tax relief), and there is no charge if the total of all non-qualifying loans to the employee does not exceed £10,000 at any time in the tax year.

Where an employee is provided with taxable living accommodation, there is an additional benefit-in-kind charge if the accommodation costs over £75,000. This is calculated as the ‘appropriate percentage’ of the cost of providing the accommodation over £75,000 less any costs paid by the employee. The appropriate percentage is the official rate of interest at the beginning of the relevant year of assessment.

30/09/2019

According to new research by Deloitte, people in the UK do not understand personal tax affairs, with young people the least knowledgeable.

Over 2,000 people across the UK were asked a series of tax questions and awarded a knowledge score based on their correct responses. The results revealed that the average person in the UK scored only 10.6 out of a possible 30, while almost half of people scored 10 or less.

According to the ‘Big Four’ accountancy firm, age had a “significant” impact on performance, with 18-24-year-olds achieving the lowest average score of 6.9. Results steadily increased with age, with over 55s achieving the highest average score of 12.3.

The majority of people surveyed (78%) said that in general, people do not know enough about tax. Meanwhile, 76% said that there should be more tax education in schools.

Matt Ellis, managing partner for tax and legal at Deloitte, said: “There is a clear gap in people’s knowledge of everyday tax issues. It’s important that people – especially younger generations entering the workplace for the first time – understand what is deducted from their pay slip and why.

“Education is essential, and our research shows there is both reason and appetite for this to begin at school.”