The government has also published its intention to change a number of other tax reporting issues. Some of the more impactful for smaller businesses and Self Assessment tax payers are reproduced below: Simple Assessment – legislation will be introduced in Finance Bill 2016 to provide a new power to allow HMRC to make an assessment […]
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From 1 December 2015, the advisory fuel rates have changed to: 1400cc or less: petrol 11p per mile, LPG 7p per mile 1401-2000cc: petrol 13p per mile, LPG 9p per mile Over 2000cc: petrol 20p per mile, LPG 13p per mile Diesel rates: 1600cc or less: 9p per mile 1601-2000cc: 11p per mile Over 2000cc: […]
1 January 2016 – Due date for Corporation Tax due for the year ended 31 March 2015. 19 January 2016 – PAYE and NIC deductions due for month ended 5 January 2016. (If you pay your tax electronically the due date is 22 January 2016.) 19 January 2016 – Filing deadline for the CIS300 monthly […]
Businesses caught up in the devastation of Storm Eva will be able to apply for £6 million of government money to get their doors back open to customers. Read Winter flooding 2015: community support for advice and current information. The Department for Business, Innovation and Skills announced the cash pot would be made available for […]
Readers affected by the recent floods, particularly in the north-west of England, should take note that HMRC has created a support line. If your business was affected you should call HMRC as they will be sympathetic to requests to extend tax payments while the clean-up operation continues. The helpline will enable anyone affected to get […]
HMRC has issued the following information regarding the publication of draft clauses of the Finance Bill 2016: New draft tax legislation has been published (9 December 2016) to implement policies published at Summer Budget and Autumn Statement 2015. It has also published new tax consultations and responses to policy consultations which took place over the […]
Employers who pay for their employees and sub-contractors to attend training courses may be interested in the following directive from HMRC, issued July 2015. The cost of food and accommodation provided for employees attending training courses for the purpose of the trade is not disallowable under the legislation. However, if food and accommodation are provided […]
HMRC has issued the following information regarding the imminent launch of the NMW 1 April 2016. Firms are advised to take simple steps now as poll reveals 93% of bosses support initiative, with majority believing it will boost productivity and retain staff. Britain’s bosses are urged to take 4 simple steps to be better prepared […]
On the 8 July 2015, George Osborne announced a number of changes to the taxation of property businesses. Without a doubt the most impactful change is the loss of higher rate tax relief for finance charges, which includes mortgage interest. What he didn’t explain was the not so gentle push of many landlords, who were […]
One of the more obscure filing deadlines for Self Assessment purposes relates to a claim to have your tax underpaid for a year recovered by an adjustment, an increase, in the PAYE stopped from your salary in a future tax year. For underpayments year to 5 April 2015, the filing deadline is fast approaching, 30 […]