Monthly Archives: November 2014

Many business readers of this blog will have their accounting year end set to coincide with the tax year end. For convenience, the end of March. As we approach the end of the calendar year you might want to consider the value of an interim review of your accounts to see what planning strategies are […]

The government has launched a public information campaign to ensure everyone knows what the State Pension changes mean for them. With just over 500 days to go, Work and Pensions Secretary Iain Duncan Smith and Pensions Minister Steve Webb have recently launched a major new drive to help people understand the historic reforms that will […]

Readers who still need to file their 2014 self-assessment tax return may be asking themselves what’s the rush? After all, the deadline for filing the return is not until 31 January 2015: more than two months away.   In fact there are at least two good reasons why you should attend to your filing obligation […]

It would seem that errant directors are not only being pursued by HMRC for sloppy accounting procedures. The Insolvency Service is now taking a more active interest. Daniel Mark Holloway, the sole registered director of Holloways Contract Services, based in Romford, Essex, has been disqualified from acting as a company director for 7 years for […]

There are a number of personal assets that you can sell without a risk that you are creating a CGT liability. They include: your car individual personal possessions worth up to £6,000 each, such as jewellery, paintings or antiques stocks and shares you hold in tax-free investment savings accounts, such as ISAs and PEPs UK […]

From March 2015 (subject to Parliamentary approval), the Child Maintenance Service and Child Support Agency (CSA) will begin sharing certain information about the payment records of their clients with credit reference agencies. This means that arrears built up in maintenance payments will have the same effect on people’s credit score as other debts. Having a […]

There are precious few opportunities to make an arrangement after the end of a tax year, and carry the benefit back to impact tax liabilities of the previous tax year. One such opportunity involves gift aid, and has the full blessing of HMRC. According to HMRC you can: “… ask for a Gift Aid donations […]

There is much evidence that dubious characters can masquerade as bona fide business people by calling themselves directors and wrapping themselves in the cloak of incorporation. They use limited liability status to avoid any personal, financial liability. Stories abound of “directors” who run up debts, place their insolvent businesses into receivership, buy any useful assets […]

 1 November 2014 – Due date for Corporation Tax due for the year ended 31 January 2014.  19 November 2014 – PAYE and NIC deductions due for month ended 5 November 2014. (If you pay your tax electronically the due date is 22 November 2014.)  19 November 2014 – Filing deadline for the CIS300 monthly […]

If you let a room or rooms in your main home you will not pay any tax on rents received as long as the gross receipts do not exceed £4,250 in a tax year. This relief extends to owner occupiers and tenants who receive rent from letting furnished accommodation in their home. If your gross […]