We are now in the last quarter of the current tax year that ends 5 April 2014. If you are in business or pay income tax at the higher rates there is a strong argument that you should consider, and invest in, a tax planning review with your professional advisor. Why? Shutting the stable door […]
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It would seem that HMRC are making progress in their efforts to make larger concerns more responsible when paying tax. Google have been criticised in the past for using complex arrangements to reduce their UK tax liabilities. Google have responded that they have only taken advantage of tax strategies that are legal – in effect […]
As the rush to file outstanding 2013 tax returns gathers pace, HMRC have published ten of the “oddest” excuses for late filing of returns in previous years. Readers should note that none of the excuses were successful! In no particular order they are: 1. My pet goldfish died (self-employed builder); 2. I had a run-in […]
HMRC published the draft Finance Bill 2014 last month. Included were changes to the taxation of certain partnerships. This article discusses the introduction of a new type of partnership member for Limited Liability Partnerships (LLPs) that will commence 6 April 2014: the “salaried member”. The new status has been introduced to counter so-called “disguised employment” […]
Although we are now at the beginning of a new calendar year we are in the last quarter of the current tax year. Whether you are a business person, property landlord or pay significant amounts of tax as an employed or retired person there is now a short window of opportunity to examine your likely […]
Where employees are provided with living accommodation, a car or a van, any private use is usually subject to specific scale charges or other rules. This article considers the provision of two further classes of assets provided for an employee’s or director’s personal use. The cash equivalent of the asset provided is the annual value […]
Readers are reminded that HMRC do not send communications to tax payers by email. If you receive an email purporting to be from HMRC, it will be some sort of “scam” and should be ignored (deleted from your PC). Do not under any circumstances open any attached files or disclose any personal information. Typically, […]
1 January 2014 – Due date for Corporation Tax payable for the year ended 31 March 2013. 19 January 2014 – PAYE and NIC deductions due for month ended 5 January 2014. (If you pay your tax electronically the due date is 22 January 2014.) 19 January 2014 – Filing deadline for the CIS300 monthly […]
In his Autumn Statement last month George Osborne announced a number of measures to help businesses grow and support families with cost of living pressures. Here’s a quick round up of the changes you can expect: For growing businesses: To help business grow and create jobs and to provide help for the high street, the […]
HMRC have revealed that 1,566 UK tax payers filed their 2013 self-assessment tax returns on Christmas day. Are we to take this as evidence that the “bah humbug” mentality is alive and well in the UK? In order to file their returns these reluctant revellers will have needed to switch on their computer, as the […]