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Welcome to our March Newswire...

Our aim is to keep you up to date with ideas and information that will help you gain the best possible advantages in working with us. This newswire will be sent regularly to help achieve this aim, and we hope you enjoy reading them.

We operate a responsible email policy at Fish Partnership, so if you do not wish to receive further copies of this newswire, click here to unsubscribe.

Companies must record PSCs

From 6 April 2016, the Small Business, Enterprise & Employment Act 2015 is introducing new rules on identifying and recording who owns and controls UK companies and LLPs.

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What would Brexit mean for UK SMEs?

According to a report called The New Internationals from commercial insurer RSA, the UK’s SMEs are EU-dependent, with 82 per cent seeing European markets as important to their future growth. Some 52 per cent say it is very important whilst 24 per cent describe themselves as a European business.

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Changes to the buy-to-let property market

The buy-to-let market is set to change following Chancellor George Osborne’s announcement last November that landlords would pay a three per cent Stamp Duty Land Tax (SDLT) surcharge, with effect from 1 April 2016.

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Cap on workplace pension contributions sparks concerns

Some of the UK’s biggest companies are said to be preparing to impose a £10,000 a year cap on workplace pension contributions; a sharp reduction from the current £40,000 annual allowance.

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Are you ready for the upcoming changes to dividends?

Dividends have been a very tax-efficient way of making savings in National Insurance Contributions (NIC) and Income Tax contributions for a number of years, with many business owners and shareholders choosing a smaller salary, plus an additional remuneration package paid as dividends.

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SMEs face lean cashflow months

A study by Hitachi Capital Finance has revealed that the UK's small businesses can expect three tough periods in 2016 when cashflow will be restricted.

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Business taxes have pushed the UK to a critical ‘tipping point’, CBI warns

The creation of new business taxes risks undermining the economic recovery, the Confederation of British Industry (CBI) has warned.

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Lending to SMEs grows for the first time since the recession

A comprehensive survey conducted by the British Business Bank has revealed that lending to small and medium-sized businesses in the UK is growing for the first time since the financial crisis began.

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Key Dates

16 March 2016 – Budget 2016.

19 March 2016 – PAYE and NIC due for the month ended 5 March 2016.

22 March 2016 – Deadline for electronic remittance of PAYE, NICs and CIS to HMRC.

5 April 2016 – End of current tax year. Deadline for 2015/16 ISA investments.

Payments of PAYE and NI must reach HMRC by the 19th of the month following the tax month in which the salary payment was made if paying by cheque, or by the 22nd of the month if paying electronically. Please note that if the 19th or 22nd falls on a weekend or bank holiday, payment must reach HMRC on the last working day before the weekend or holiday.