Here are five important dates to put in your calendar this year.
31st January 2012
Self-assessment tax deadline Self-employed people must file their tax returns online and pay any outstanding tax for the year ending April 2011 by 31 January. The deadline for paper returns was 31 October 2011. Contact us for advice on Tax planning and ways to reduce your future Tax liabilities.
21st March 2012
The Budget. The yearly raft of changes usually has something that affects everyone in it, from changes to income tax levels and benefits uprating to how much more we will all pay for a pint. The Budget is always worth keeping an eye on.
5th April 2012
Two pension changes
- Firstly, the’ Fixed protection’ application deadline. Only affects those fortunate to have large pension funds over £1.5 million.
- Secondly, the end of contracting out Contracting out. Contracting out of the State Second Pension (S2P) into a defined contribution pension will be banned from this date.
1st September 2012
Auto-enrolment begins Employers with 120,000 employees or more must notify staff of auto-enrolment before this date. The staging date to begin auto-enrolling for this group is 1 October 2012. Click here for detail about coming changes to workplace pensions.
21st December 2012
The use of gender as a factor to price insurance contracts will become illegal, meaning annuity rates and insurance quotes will not be different for men and women. If you are at or approaching retirement, and would like advice on Annuities then please contact us.
