HMRC are advising certain charities to sign up to its new online Gift Aid system. The last “old style” forms will not be accepted after 30 September 2013. According to HMRC, more than 19,000 charities have already signed up to Charities Online. Since the online process was launched 22 April 2013 almost 50% of Gift […]
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If you intend to make amusement machines available for play, you must register under the Machine Games Duty (MGD) regulations. MGD was introduced for existing operators from 1 February 2013. The published list of person’s who may be affected is anyone who: holds, or is required to hold, a licence or permit which allows them […]
1 September 2013 – Due date for Corporation Tax due for the year ended 30 November 2012. 19 September 2013 – PAYE and NIC deductions due for month ended 5 September 2013. (If you pay your tax electronically the due date is 22 September 2013.) 19 September 2013 – Filing deadline for the CIS300 monthly […]
Businesses should be aware that HMRC polices the National Minimum Wage (NMW) legislation. Not only do they fine employers who breach the regulations, they also enforce the payment of underpaid wages to staff. HMRC have recently released figured confirming that 26,000 workers were paid less than the minimum wage. • 708 employers had been fined with […]
In a previously unreported settlement with the UK Government, Vodaphone appears to have made a large payment to HMRC. The additional taxes related to the tax returns of an Irish subsidiary. Although the overall amount settled was not disclosed Vodaphone were required to reclaim approximately £57m from the Irish Government in tax that should have […]
The period April – June 2013 has seen positive economic growth for the second quarter. The economy expanded by 0.7%. Hopes of rebalancing the economy towards trade and investment were given a boost by an impressive 3.6% increase in exports in the same period. However, the good news may too good for the Bank of […]
HMRC closed their consultation on the proposed changes to the taxation of partnerships and LLPs on 9th August. Any subsequent changes will be introduced in the Finance Bill 2014, and be effective from 6 April 2014. Two possible changes are worth highlighting. 1. Disguised employment HMRC aim to create a new concept for LLPs, a salaried […]
Online betting companies that have based their operations in offshore tax jurisdictions, to avoid Britain's gambling taxes, will be hit with a new levy to be introduced from December 2014. It is estimated that the new tax may raise £300m for the UK taxpayer. The Government is to impose a 15% tax on operators in […]
The Office for Tax Simplification has published a new list of tax issues for review. They include: • Increasing the present £8,500 limit, below which employees (not directors) do not suffer benefit in kind charges. This limit was introduced in 1979 and was apparently based on the amount at which a married man started to pay […]
Ten new tax defaulters have been added to HMRC’s rogues’ gallery. This follows the publication of twenty tax offenders’ details last year. So far only one of the original twenty has been caught. HMRC has statutory authority to “name and shame” taxpayers who they consider to be deliberate tax defaulters. Generally speaking these are persons […]