• 1 Lymington duo scooting 120 miles for Saints Foundation
  • 2 Ocean Brother Jude Massey to open Beaulieu Boat Jumble
  • 3 The truth about calling at Lymington Market
  • 4 Colten Care residents benefit from music and arts
  • 5 Personal Tax Planning 2018-19
  • 6 A warm welcome home to Lymington's Ocean Brothers
  • 7 Things to do during the Easter holidays in and around Lymington
  • 8 How can businesses manage unexpected events
  • 9 Top dog joins in care home celebrations
  • 10 Beach clean up and environmental lessons for Durlston Court pupils
  • 11 Appetite for Adventure produces pedal power!
  • 12 They've done it! Lymington Ocean Brothers break World Records
  • 13 Friday fun connecting New Forest generations
  • 14 Lymington sailor announces return to Olympic circuit
  • 15 An illuminating literary line up at the Curious Arts Festival
  • Lymington duo scooting 120 miles for Saints Foundation

    Lymington duo scooting 120 miles for Saints Foundation

    Scooter challenge raising money for a charity football tournament for disabled.

    PJ Stevens and Rob Douthwaite scooting to raise funds

    On the 26 to 29 April 2018, Lymington duo, PJ Stevens and Rob Douthwaite, will take on a 120-mile south coast scooter challenge uniting the three south coast Premier League football clubs of Brighton and Hove, Southampton, and Bournemouth. Their aim is to raise over £5,000 for a charity football tournament for people with cognitive and physical disabilities.

    #FootyScoot, the four-day, long distance challenge, will see the two local dads unite the three south coast Premier League football clubs starting at

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  • Ocean Brother Jude Massey to open Beaulieu Boat Jumble

    Ocean Brother Jude Massey to open Beaulieu Boat Jumble

    Beaulieu's 41st Boatjumble is the largest outdoor sale of maritime items in Europe.


    Jude Massey Guinness World Record holder youngest to row any ocean as a pair Beaulieu is proud to announce that Jude Massey from the Ocean Brothers will open its Boatjumble on Sunday April 22nd after completing his record-breaking row across the Atlantic. Nineteen-year-old Jude became the youngest person in the world to row any ocean in a two-person team when he and his brother Greg Bailey rowed 3,000 miles unassisted, in memory of their late father Peter Massey and to raise funds for the British Skin Foundation for skin cancer research.

    After their

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  • The truth about calling at Lymington Market

    The truth about calling at Lymington Market

    Why let the truth get in the way of a news story!

    Lymington Market fruit stall Over the last week, media has been awash with 'news' of a Lymington Market trader allegedly told not to shout about his produce after a complaint over noise. Regional and national press have gone to town on how Wayne Bellows has been ordered to turn down the noise because it is causing a nuisance.

    Here is the text of a letter from Lymington and Pennington Town Council with the facts behind the story:

    "I write to put the facts before your readers

    Read More
  • Colten Care residents benefit from music and arts

    Brilliant Fiona helps Colten Care residents benefit from music and arts. 

    Dedicated Music and Arts professional improves residents’ wellbeing and quality of life.

    Music and Arts Partner Fiona Pritchard working with a participant at a Dance for Parkinson’s session at the Forest Arts Centre in New Milton, Hampshire. And, it really works. See below. 

    Professional musician, teacher and music-in-healthcare practitioner Fiona Pritchard is working across Colten Care's 20 nursing homes including the five dementia-specific care homes.

    A key part of her role is to stimulate residents’ creativity and imagination through singing, playing music, drama, poetry, storytelling, dance and active listening.“I am introducing arts based approaches into everyday care and offering individualised interactions with residents based on an arts activity of interest", said Fiona. “I will use

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  • Personal Tax Planning 2018-19

    Personal Tax Planning 2018-19

    Review your tax affairs and take advantage of all available allowances.

    NFTA hourglass on newspaper The new tax year starts 6 April and brings a number of important changes, making it a good time to review your tax affairs to make sure that you are taking advantage of all available reliefs and allowances. This useful guide from New Forest Tax Accountants provides you with a few personal tax planning suggestions. As ever, your particular circumstances must be considered as further opportunities might be available to you.

    Income Tax

    For 2018-2019, the personal allowance has risen to £11,850. The level at

    Read More
  • A warm welcome home to Lymington's Ocean Brothers

    Welcome home to Lymington, Ocean Brothers!

    Atlantic rowers, Jude Massey and Greg Bailey, were greeted by hundreds of supporters in Lymington on Good Friday.

    30 March 2018

    Photo by Adam Lynk Ocean Brothers Homecoming Guinness World Record Breaking Jude Massey and Greg Bailey, the Ocean Brothers , rowed home to Lymington on Good Friday, 30th March 2018. They were followed up the Lymington River by a flotilla of boats and welcomed ashore by hundreds of supporters and wellwishers, all celebrating the brothers' success in rowing unsupported across the Atlantic Ocean. Jude is now the youngest person to have rowed any ocean in a pair.  Read more about the Ocean

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  • Things to do during the Easter holidays in and around Lymington

    Things to do over Easter in and around Lymington...

    Your guide to what’s on in Lymington, the New Forest and surrounding areas during the Easter holidays.

    Easter eggs

    Updated April 2018

    There are lots of exciting things happening in Lymington, New Milton, the New Forest and surrounding areas over the Easter weekend and throughout the Easter holidays! Here is a your lymington.com guide of things to do with the children. 

    Take a look also at our Fun Days Out feature if you're looking to venture slightly further afield and also our Places to Visit section . For those having to juggle work with

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  • How can businesses manage unexpected events

    Inclement weather and unexpected events - james dynan risk management diversion road closed what next

    How does your business manage these?

    A short thought provoking article about how we manage operational risks to our businesses by James Dynan, James Dynan Associates

    So far in 2018 we have experienced some serious weather conditions, indeed the Met Office suggests the ’beast from the east’ may return over the Easter period.

    The basics of resilience planning is to face these challenges knowing you have put plans in place to “keep calm and carry on”.

    How did my business cope?

    For inclement weather the impact will generally be staff availability and travel disruption.

    Consider

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  • Top dog joins in care home celebrations

    Top dog joins in thank-you celebrations at Lymington care home

    Canine Partner, Mungo, helps to thank Linden House residents for charity donation.

    Mungo at Colten Care’s Linden House care home in Lymington with his partner Barbara Houston, seated. Also joining residents and team members are Canine Partners volunteer Liz Downs, standing third from right, and singer and guitarist Nigel Revill Residents at Linden House in Lymington said hello to an ‘amazingly clever’ disability assistance dog that has transformed the life of a New Forest woman. Nine-year-old Mungo and his partner Barbara Houston visited Colten Care’s specialist dementia home, Linden House, to say thank-you for supporting the charity that brought the pair of them together. Dogs specially trained by Canine Partners live with disabled people. They perform essential tasks such as fetching food from the fridge, picking up dropped items, raising

    Read More
  • Beach clean up and environmental lessons for Durlston Court pupils

    BEACH CLEAN UP YIELDS SHOCK VOLUME OF RUBBISH AND "NURDLES"

    durlston court prep school beach clean mar18

    ‘Eco-Durlston’ teaches schoolchildren about environmental issues

    Pupils of Durlston Court Prep School were joined by their family, friends and members of the community on Saturday 10th March to conduct a beach clean on the Highcliffe/Naish beach area. Originally planned for last week as part of the Great British Spring Clean, the event was postponed due to the snowy weather.

    Organiser and teacher Mrs Sue Johnson explained “the Beach clean is part of Durlston’s eco commitment, a committee involving 2 pupils from each year group was created earlier in the year

    Read More
  • Appetite for Adventure produces pedal power!

    Appetite for Adventure produces pedal power!

    Greg James and Zoe Ball fuelled by Lymington business to complete Sport Relief Challenges.

    Zoe Ball loving the A4A Chocolate Fudge Appetite for Adventure Team with Greg James Radio and television celebrity Zoe Ball recently completed her BT Sport Relief Challenge, 'Zoe’s Hardest Road Home', cycling more than 350 miles from Blackpool to Brighton in five days - and behind the scenes on her final day, bringing a taste of the great outdoors, was the Lymington and New Forest based event catering firm Appetite for Adventure.

    The catering team were fresh from supporting the previous week’s Sport Relief event, 'Radio 1’s Gregathlon', where DJ Greg James was challenged to

    Read More
  • They've done it! Lymington Ocean Brothers break World Records

    They've done it! Lymington's Ocean brothers break world records

    Youngest ocean rower in a team of two with his brother completed unsupported transatlantic row on Mothering Sunday

    Ocean Brothers arrive in Barbados 11 March 2018 by Adam Rowley Creative http://www.adamrowleycreative.com

    Ocean Brothers Jude Massey and his brother Greg Bailey have finished their gruelling unsupported 3,000-mile row across the Atlantic. They arrived in Barbados on Sunday 11 March after spending 53 days at sea and were welcomed by their mother, author Alexandra Massey, making her the perfect Mothering Sunday!

    The brothers have been rowing to raise money for the British Skin Foundation to fund vital skin cancer research, and in memory of Jude's father (Greg's step-father)

    Read More
  • Friday fun connecting New Forest generations

    Friday friends connecting New Forest generations.

    Brockenhurst Primary School and Woodpeckers care home share companionship and laughter.

     

    Woodpeckers resident Yvonne Carnegie with a young visitor Schoolchildren and nursing home residents in the New Forest are finding friendship together under a new initiative designed to bridge the generation gap.

    Pupils from Brockenhurst Primary School have begun making weekly trips to nearby Woodpeckers care home to socialise with elderly residents, find out about their lives and share companionship and laughter.

    The children, aged eight, nine and ten, are paired up with a ‘buddy’ resident each Friday, with the visitors and hosts taking turns to suggest a shared activity. Initial meetings

    Read More
  • Lymington sailor announces return to Olympic circuit

    Lymington sailor announces return to Olympic circuit

    Could you or your business support 3 times British National Champion, Hannah Snellgrove, on her Olympic journey?

    Hannah Snellgrove Lymington’s Laser Radial sailor Hannah Snellgrove has announced her return to the Olympic circuit after two years away from international competition. The 27 year old, who represents both the Royal Lymington Yacht Club and the Lymington Town Sailing Club when she competes, is a three-time British National Champion, and remains the only woman ever to hold that title.

    Although her parents had never sailed, Hannah benefited from local expertise, initially learning to sail at Salterns Sailing

    Read More
  • An illuminating literary line up at the Curious Arts Festival

    Matt Haig and Misha Glenny lead illuminating literary line up at Curious Arts Festival 

    Book your tickets for the 2018 Curious Arts Festival at Pylewell Park, taking place 20th to 23rd July.

    Curious Arts Festival 2018 In need of reading inspiration this World Book Day? Look no further than this year’s line up of author events at Curious which reads as an A to Z of prize winners, best sellers and this year’s most exciting book releases.

    Celebrated adult and children’s author Matt Haig and journalist, historian and McMafia creator Misha Glenny are today announced as the latest names on an inspired literary line

    Read More
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Personal Tax Planning 2018-19

Review your tax affairs and take advantage of all available allowances.

NFTA hourglass on newspaperThe new tax year starts 6 April and brings a number of important changes, making it a good time to review your tax affairs to make sure that you are taking advantage of all available reliefs and allowances. This useful guide from New Forest Tax Accountants provides you with a few personal tax planning suggestions. As ever, your particular circumstances must be considered as further opportunities might be available to you.

Income Tax

For 2018-2019, the personal allowance has risen to £11,850. The level at which income tax is charged at the higher rate of 40% has been increased by £350.
The income limit of the personal allowance remains at £100,000; after which the personal allowance is gradually withdrawn by £1 for every £2 of income over £100,000.

The income tax basic rate remains at 20% of income, with the limit increased to £34,500. Earnings between £34,501 and £150,000 will pay the higher rate of 40% Income Tax (see table adjacent for proposed Scottish rate of income tax payable on non-savings and non-dividend income for those defined as Scottish taxpayers).

Where income exceeds £150,000 it is taxed at the additional rate of 45%. Income between £100,000 and £123,000 is taxed at 60% due to the gradual withdrawal of the personal allowance. The upper limit is £100,000 plus double the personal allowance as it is reduced by 2 for 1. If possible, individuals with income approaching these thresholds should consider ways of reducing their income to keep it below these levels.

Spouses and civil partners who cannot claim the married couples allowance can transfer some of their personal allowance to each other to save tax. The transfer is not available where either spouse/partner pays income tax at higher rates. The limit for 2018-19 has increased to £1,185.

High income child benefit charge

Where taxable income exceeds £50,000 (or that of a partner) and child benefit is being claimed, there is a clawback of the child benefit at the rate of 1% of the benefit for every £100 of income over £50,000. The financial benefit of claiming child benefit is lost entirely where individual taxable income reaches £60,000. Care should therefore be taken where possible to keep individual taxable income below £50,000 to avoid the clawback, see ‘Beat the Tax Band’ overleaf.

NFTA piggy bankDividend Tax

During 2018-2019, the first £2,000 of dividend income can be received tax-free. Dividends above this level will be taxed at the following rates based on the recipient’s highest rate of Income Tax: 7.5% (ordinary rate), 32.5% (upper rate) and 38.1% (additional rate). 

The £2,000 is a zero rate and NOT an exemption. In other words, even if you receive dividends of £2,000 or less, they still get added to your total earnings and could affect other elements, such as your child allowance and tax band.

 

Good news for Savings and Investments

Personal Savings Allowance (PSA) provides exemption of of savings income up to £1,000 (basic rate taxpayers) and up to £500 (higher rate taxpayers); PSA is not available to additional rate Income Tax payers. These benefits are in addition to the tax advantages offered from ISAs.

The amount that can be put into an Individual Savings Account (ISA) throughout the course of the year has been retained at £20,000. This provides an excellent tax planning opportunity for individual investors as ISAs represent an extremely tax efficient manner of withdrawing income, whether that be prior or during retirement, and can be used successfully alongside other investment vehicles such as pensions or investment accounts that are subject to Capital Gains Tax.

Where there are children aged 16 or over who would like to buy a home, funds could be gifted to to enable investment in a Help to Buy ISA, these are available for 4 years from autumn 2015 to assist first time buyers.

Main Residence Nil Rate Band

For the 2018-2019 tax year the Main Residence Nil Rate Allowance is £125,000. This, in addition to the Inheritance Tax Nil Rate Band of £325,000, could provide an overall individual inheritance nil rate band of £450,000 this year, rising to £500,000 in 2020. If married this could provide a £1,000,000 Nil Rate Band!

However, there are a number of restrictions and rules associated with this allowance, please contact us for more information.

Capital Gains Tax

The Capital Gains Tax (CGT) annual exempt amount has risen slightly to £11,700. If you have used up your allowance, consider deferring selling assets until the next tax year or transferring them to a partner who pays tax at a lower rate. Attractive income tax reliefs are also available for investments into Venture Capital Trusts, Seed Enterprise Investments Schemes and Enterprise Investment Schemes. Call us for more information.

tax return

 

Beat the Tax Band! 

  • Individuals with incomes near the £100,000 or £150,000 thresholds could reduce their taxable income below the threshold by making contributions to pensions or charities.
  • Consider transferring income yielding assets (e.g. private company shares) to your spouse or civil partner who may pay tax at a lower rate or pay no tax at all. Such transfers must be outright gifts without conditions.
  • Each child under 18 can have their own Junior ISA. Parents and grandparents can contribute up to £4,260 a year tax free for each child.
  • If you can vary your self-employed income, make sure that your 2018-19 income tax payments on account are not too high: better in your bank account than in that of HMRC!
  • Income can be reduced through maximising claims for certain tax reliefs or through making certain business investments. We can explain which claims and investments are available for this.
  • You may be able to transfer private company shares to use exemptions and rate bands of your spouse and other family members. Remember to consider Inheritance Tax (IHT).
  • Reduce Capital Gains Tax (CGT) charges from 28% to 18%. It may be possible to transfer assets to a spouse or civil partner.
  • Entrepreneurs Relief allows you to pay a reduced rate of CGT at 10% up to a lifetime limit of £10million capital gains. The rules are complex, call to discuss!
  • Small company owners (especially family-companies) should consider the way dividends are paid to ensure optimum use of the £2,000 dividend allowance.
  • An increasing number of employers allow employees to sacrifice a cash payment for approved share options, benefits in kind or pension contributions in lieu of salary.
  • The provision of a company car is now a highly taxed benefit and alternatives should be considered.

Key Dates for Tax Returns

Self Assessment Tax Return (SATR) (for 2017-18 tax year)

  • Paper version 31 October 2018
  • Online version 31 January 2019
  • To have unpaid tax of up to £3,000 collected through the 2019-20 PAYE code, SATR must be completed by 30 December 2018.

 

For further tax planning advice for the 2018-2019 tax year, contact New Forest Tax Accountants and organise a free initital consultation.

New Forest Tax Accountants

6 April 2018

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  • LYMINGTON.COM:
    NEWS, EVENTS AND LOCAL INFORMATION

    Lymington.com provides you with information about the town of Lymington and its surrounding area, including the New Forest National Park. Find here news, events, things to do and local information, including where to stay, where to eat and drink, as well as places to visit. The Lymington.com Directory provides a comprehensive guide to local businesses and organisations, with a search function enabling you find what you are seeking and a review function so that you can tell others what you think!

  • LYMINGTON:
    GEORGIAN MARKET TOWN AND FAMOUS YACHTING CENTRE

    Lymington is a pretty Georgian market town in the south of the New Forest. The town's sheltered position on the western bank of the beautiful Lymington river has made it an important settlement since the Iron Age. For many years Lymingtonians have made their living from the sea or the river - as boatbuilders, fishermen, sailors and in past centuries as salt workers and even smugglers! Today Lymington is an internationally famous yachting centre with a population of almost 17,500.

  • SAILING IN LYMINGTON:
    PERFECTLY LOCATED FOR THE BEST SAILING IN THE BRITISH ISLES

    It’s not surprising that Lymington is one of the “Best UK Coastal Towns in Which to Live”. Combined with accessible road and rail links north to London, west to Bournemouth and east to Southampton and beyond, as well as the car ferry service to Yarmouth, Isle of Wight, the town combines practicality with pleasure; the perfect work-life balance. There are many excellent schools and a wealth of local sports, clubs and leisure activities.

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