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Lucy Bayliss
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Lucy Bayliss (Bury St Edmunds)

Lucy joined Whiting and Partners in September 2015 and has lived in Bury St Edmunds all her life. She has a dual role, working both within the tax department and within the general practice department. Since joining the firm she has completed her AAT qualification and is currently studying towards ACCA. Other interests include reading and socialising with friends and family.

Specialisms

Accounts
private client tax
P11Ds
 
My Latest Blogs
 
Lucy Bayliss
8th January 2020 It’s the final countdown!

There are only 23 days until the self-assessment tax return deadline of 31 January 2020. If your return is not filed electronically by this date, an automatic £100 penalty will be applied. Please note that the deadline for filing a paper tax return was 31 October 2019 and therefore all returns are required to be…

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Lucy Bayliss
25th November 2019 Don’t let your tax bill affect your festive joy. Instead, spread your tax payments throughout the year!

With the festive period fast approaching, it is easy to lose sight of your self-assessment tax return!   If you are employed or receiving a pension and you file your return before 30 December 2019, you can elect to have your tax collected through ‘Pay As You Earn’ (PAYE) rather than paying one lump sum…

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Lucy Bayliss
12th November 2019 Finance charges for landlords – The knock on effects

  Since 6 April 2017, changes are being gradually introduced to restrict the relief available to landlords in respect of their finance costs. Under the old rules, the interest element of the mortgage payments was 100% allowable for income tax purposes. However, this is gradually being replaced with a 20% tax reducer instead. The timetable…

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Lucy Bayliss
4th July 2019 PAYE Settlement Agreement Deadline – 6 July 2019

A PAYE Settlement agreement allows employers to make one annual payment to cover the tax and National Insurance liability on minor, irregular or impracticable expenses for any employees. HMRC have now changed the process for PSAs and, instead of applying for a new PSA annually, from 2018-19 employers will have an enduring agreement and therefore…

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Lucy Bayliss
19th June 2019 Let’s get trivial

Trivial benefits are exempt from income tax and Class 1A NIC and therefore not reportable on a P11D. With the P11D deadline of 6th July fast approaching, I thought now would be the perfect time to review exactly what criteria needs to be met in order to qualify as ‘trivial’. Benefits are exempt from tax…

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Lucy Bayliss
13th May 2019 Marriage Allowance

  As detailed in a recent blog written by Matilda Mawson (https://www.whitingandpartners.co.uk/has-your-claim-for-marriage-allowance-transfer-been-refused/), a ‘Marriage allowance’ was introduced from 5 April 2015 onwards, which allows a person 10% of their personal allowance to be given to their husband, wife or civil partner.   However, if you or your partner were born before 6 April 1935, you…

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Lucy Bayliss
11th April 2019 £10 a day from the 1st May!

If you submitted your tax return after the filing deadline of 31 January, or you still have not submitted your tax return, then you will automatically be fined £100 for missing the deadline.   In February, HMRC announced that they would be delaying issuing the late filing penalty notices due to Brexit. They have now…

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