1 October 2013 – Due date for Corporation Tax due for the year ended 31 December 2012. 19 October 2013 – PAYE and NIC deductions due for month ended 5 October 2013. (If you pay your tax electronically the due date is 22 October 2013.) 19 October 2013 – Filing deadline for the CIS300 monthly […]
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If you are married, and if you and your spouse do not pay tax at the higher rates, you may benefit to the tune of £4 per week if the Conservative party wins the next election, or controls a coalition, from 2015. It is estimated that four million married couples, and fifteen thousand civil partnerships, […]
If you have spent your working life building your business, when you reach the point at which you are considering a sale, planning is critical. VAT, corporation tax, income tax, stamp duty land tax, and capital gains tax are all standing in the wings waiting for you sign on the dotted line; so they can […]
Payments that your employees make through a Payroll Giving Scheme are deducted from their pay before tax is deducted. This means that employees are given tax relief on their donation immediately – and at their highest rate of tax. It's easy to set up a Payroll Giving Scheme for your business. There's little in the […]
A salary sacrifice is a voluntary reduction in your salary in exchange for tax-free benefits. These benefits can include: • Child care vouchers • Cycle to work schemes • Bus passes for commuters • Canteen tokens • Staff car parking and vouchers The Government have also launched a consultation into the promotion of payroll giving. The aim is promote the […]
HMRC have published draft guidance on landfill tax. Materials that can be classified as naturally occurring, and therefore taxable at the lower rate of £2.50, include: “Group 1 of the 2011 Order allows the following waste materials to be lower rated: naturally occurring rock, clay, sand, gravel, sandstone, limestone, crushed stone china clay, construction stone, […]
Many parents who receive Child Benefit may be blissfully unaware that they are walking into a tax trap. From 7 January 2013 Child Benefit payments are effectively means tested by the tax system. If either parent, or both parents, has income in excess of £50,000, then part or all of the Child Benefit you have […]
Although the recent G20 conference in St Petersburg failed to reach a consensus on the best way to deal with the Syria crisis, they did agree on a long term strategy to make it harder to hide money in tax havens. The ultimate goal, to force companies to pay tax in the countries where they […]
Readers will be aware that there a multitude of emails circulating on the internet purporting to be from HMRC. In almost all cases these will be some form of scam, attempting to gather personal information from you in exchange for the promise of a tax refund or similar inducement. HMRC have confirmed, on numerous occasions, […]
The HICBC was introduced on 7 January 2013 and applies to couples where: One partner has received Child Benefit payments after 7 January 2013, and Either partner has income in excess of £50,000 a year. The person with the highest income, if both are over £50,000, will be liable to pay the charge. It will […]