1 December 2013 – Due date for Corporation Tax due for the year ended 28 February 2013. 19 December 2013 – PAYE and NIC deductions due for month ended 5 December 2013. (If you pay your tax electronically the due date is 22 December 2013.) 19 December 2013 – Filing deadline for the CIS300 monthly […]
Category Archives: Uncategorized
George Osborne presented his Autumn Statement to Parliament amid mixed messages spilling from the Treasury, and promoted in the national press, about what he would, and would not give away. The reported economic indicators were encouraging: 1.4% growth in the UK expected for 2013, 2.2% for 2014. Increase in jobs this year of 400,000. National […]
According to the Financial Times “Britain is still the favoured tax regime of business…”. Recent surveys have added a note of caution. Apparently, a growing number of organisations are concerned about the UK’s hardening attitude to tax avoidance. In an interesting twist in the mooted changes to international tax issues, UK resident businesses could be […]
Since 2003 our Government has collected more than £45bn in stamp duty receipts from British householders buying homes across the UK. The figures disguise a massive increase in the impact of stamp duty land tax (SDLT) over this period as the volume of property purchases and sales has actually fallen by 45%. Ten years ago […]
HMRC are considering changes to the tax rules for partnerships. Changes arising will be included in legislation that will be effective from 6 April 2014. HMRC’s formal consultation closed 9 August 2013 and consideration is now being applied to the following issues: Disguising employment relationships through Limited Liability Partnerships, and Certain arrangements involving allocation of […]
Many businesses are unaware that the National Minimum Wage (NMW) rules are monitored by HMRC. There are consequences if you fail to pay employees NMW rates. Currently, the rates set 1st October 2013 apply. They are: 21 and over – £6.31 per hour 18 to 20 – £5.03 per hour Under 18 – £3.72 per […]
A new list of deliberate tax defaulters has been published by HMRC on 12 November 2013. It includes a number of food retailers, hairdresser, wholesalers, a yacht brokerage, construction industry firms, haulage operator and a property rental owner. HM Revenue & Customs (HMRC) publishes details of deliberate tax defaulters – people who have received penalties […]
There are still many families in the UK whose assets will be distributed in accordance with the intestacy rules – and all because a deceased member of the family did not prepare a Will. What are the intestacy rules? Let’s say that the family breadwinner dies leaving a surviving spouse or civil partner and two […]
Chancellor George Osborne made the following announcement to MPs on 5 November 2013. "Today, I can […] announce another step in the fight against tax evasion. We will be signing this afternoon a tax information sharing agreement with the Cayman Islands – the first ever with an overseas territory. "And as a result, information of […]
The High Court has ruled that HM Revenue & Customs (HMRC) had unfairly taxed ‘several thousand dividends’ between 1990 and 2009. As a direct result thousands of Prudential with-profits investors could receive a share of approximately £150m. The case could benefit other providers who have similar with-profits funds. For example: Aviva, Royal Sun Alliance, Standard […]