Chartered Accountants & Tax Advisers in Weybridge, Surrey
June 2011
We often get asked by our clients “Instead of having to pay self-assessment tax twice a year or corporation tax in one lump sum, how can I spread the payments to HMRC more easily?” HMRC has two separate online Direct … Continue reading
June 2011
If your VAT taxable turnover is less than £150,000, you could simplify your VAT accounting by calculating your VAT payments as a percentage of your total VAT-inclusive turnover. Although you cannot reclaim VAT on purchases – it is taken into … Continue reading
June 2011
Equitable Liability was a little known practice in which HMRC accepted the evidence of time-barred returns, accounts, claims etc. where there was a tax debt but no longer any legal right to adjust the liability. The amount of the legal … Continue reading
June 2011
Over recent years, HMRC has concentrated its debt collection resources, out of necessity, on high-value debts. Unsurprisingly, say HMRC, this has led to a considerable increase in the number of small debts, particularly those less than £1,000 in value. In … Continue reading
June 2011
HMRC has announced the use of specialist teams to focus on particular trades and areas in the near future. The first such task-force will target those in the restaurant trade, beginning with those in London before covering Scotland and North … Continue reading
June 2011
Probably unwise to ask you that, but do you recognise the following thoughts? HMRC sees the small business area as a source of tax leakage and as a result of its robust approach it is feared by many small businesses … Continue reading
June 2011
Published guidelines are issued by HMRC with the aim being to save time for all concerned by setting out figures which they reckon can be used in the majority of cases They are only advisory, and can apply where the … Continue reading
May 2011
If you undertake any research and development within your business, and operate as a limited company, you should look at the big improvements being introduced to this enhanced tax relief regime. As from 1 April 2011, the relief is to … Continue reading
May 2011
If you are a member of a final salary pension scheme, the increase in your pension accrual on a year by year basis can result in an immediate tax charge. This arises if, and to the extent that, 16 x … Continue reading
May 2011
A modest but nonetheless welcome increase in the mileage allowance on which you can claim tax relief applies from 6 April 2011. Instead of a maximum claim of 40p per business mile, you can now get 45p. However, as before, … Continue reading
