FEBRUARY 2024 GLENFIELD GAZETTE ONLINE

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6 FEBRUARY 2024 GLENFIELD GAZETTE PO Box 8, Markfield, Leics. LE67 9ZT Tel: 0116 287 3122 info@glenfieldgazette.com www.glenfieldgazette.com The Glenfield Gazette is a monthly local magazine delivered free to approximately 5,000 homes and businesses in Glenfield. Contact Mike Wilkinson with your articles, news items or advertising enquiries. Printed by Norwood Press in Ellistown. The opinions expressed by contributors are not necessarily those of the Glenfield Gazette Production Team. The inclusion of any group or organisation in this publication does not necessarily imply a recommendation of its aims, methods or policies. The Glenfield Gazette cannot be held responsible for the information disclosed by advertisements, all of which are accepted in good faith. Every effort is made to ensure the accuracy of information in this magazine, but no liability can be accepted for loss or inconvenience caused as a result of error or omission. The Glenfield Gazette reserves the right to amend, shorten or refuse to publish articles and/or advertisements submitted for publication. All contents © The Glenfield Gazette. None of the articles or adverts contained in this magazine are to be reproduced in any way without first obtaining written consent from The Glenfield Gazette. We’re fast approaching the end of the 2023-24 tax year on 5 April. It’s not exactly a time for champagne and resolutions, but you could save or make money if you meet the deadline for several allowances and claims. If you’re an employee and you’ve overpaid on PAYE, for example, through a tax code error, you have four years to reclaim the money. That means 5 April is the deadline for claims regarding the 2019-20 tax year. The same timescale applies to reclaiming overpayments on self-assessment. As a sole trader, 5 April simply marks the end of the tax year for self-assessment purposes, with the filing deadlines not until 31 October for paper forms and 31 January 2025 for online filing, and the payment deadline 31 January in both cases. However, if you operate as a company, the filing deadline is one year after the end of your chosen accounting year. If you use the common 6 Aprilto-5 April schedule, that deadline is looming for your 2022-23 tax return. The tax year deadline also marks the last chance to take advantage of several annual allowances for saving and investing. For example, the annual limit for putting money into tax-free ISAs is £20,000, of which a maximum of £4,000 can go to a Lifetime ISA. If you are close to this limit and have money available, consider whether to max out your allowance rather than wait till next year. You can’t carry over unused allowances. If you’re thinking of saving for a child, you may want to open a Junior ISA by 5 April. That way you’ll get an extra year to take advantage of the annual allowance of £9,000. Anyone who sells something at a profit (including shares and many other financial assets) has to pay capital gains tax on profits above an annual allowance. The allowance dropped significantly last year and is now only £6,000. That means that if you’re planning to sell or dispose of an asset, you should think carefully about when to sell it, which may reduce your tax liabilities. With shares, you may want to sell some now and then sell the rest in the new tax year. Remember that shares are inherently risky, so changes in their market price could significantly affect your overall position whenever you choose to sell. The pension contributions annual allowance also expires on 5 April. With the standard allowance being £60,000 it’s not a problem most of us will worry about, but those with the money available should get expert advice on whether and how to take advantage. Finally, 5 April may be your last chance to use the annual gift allowance regarding inheritance. The ‘annual exemption’ means you can give away up to £3,000 a year, either to one person or split across multiple people. As long as you live for another seven years, the amount won’t attract inheritance tax. You can carry any unused allowance over to the next tax year, but not into any following years after that. All Plumbing and Heating NO JOB TOO SMALL Low Prices • OAP Discount Fast & Friendly Service FULLY QUALIFIED & REGISTERED PLUMBER Free Call Out • Free Estimates Call Mr Driver ANYTIME DAY OR NIGHT On 0116 271 3334 Mobile 07773 514619 My wife complains that I don’t buy her flowers. In all honesty, I didn’t know she sold flowers.
GLENFIELD GAZETTE FEBRUARY 2024 Glenfield Park WI News WELL WHO would believe it, we had an enjoyable Annual Meeting. I know they are supposed to be boring but there was a lot of chat and reminiscing about the previous year, from some of the excellent speakers to the interesting trips and activities we had had. However on a more serious note we accomplished all the necessary business. Pam is continuing as president, Val Moore as treasurer and fortunately the excellent committee have agreed to continue as well. Mind you perhaps there was the incentive of food to spur everyone on. One of our activities was a Christmas dabble day when we tied 2 new crafts. We made a felt Christmas tree and a pod which is a container for a small gift. A very enjoyable and fun day with a very pleasing outcome. Perhaps surprise, surprise there was also food involved. Perhaps we are like Napoleon’s army and thrive on food. • WE BEGAN THE NEW YEAR with a members’ social evening where we had the opportunity to indulge in a couple of games, curling or quoits or some table games like 3d snakes and ladders which might be okay for children but seems impossible for us without causing a lot of hilarity while some members took the opportunity to catch up with other members’ news. Dare I add we finished the evening with cake! A good introduction to the new year. Let’s hope it continues. Pamela Take in new sights. Try contact lenses for free! 7 Ping-pong is the perfect sport because it combines everything I love about both tennis and not moving.
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FEBRUARY 2024 GLENFIELD GAZETTE ONLINE

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