If you have tax to pay between £2,000 to £3,000, the latter is the new limit for having the tax collected by reducing your 2012/13 Code Number as an employee, rather than paying it all in one go by 31 January 2012. We have now been told that the £3,000 limit can apply even though […]
As a separate initiative HMRC is targeting UK residents with overseas properties, but only if the taxpayer has assets between £2.5 million and £20 million and/or those who they reckon should be in the 50% tax bracket. Letting of an overseas property by a 20% or 40% taxpayer may well not result in any UK […]
We know this can be a regular problem for some of our clients. One solution is to pay electronically – something which HMRC wish we would all do. Otherwise a new arrangement has been made this year whereby we enter your details online and a completed payslip is then created.
Following the Autumn Statement at the end of November 2011, more information is now available in respect of the proposal to give 100% first year allowances on plant and machinery expenditure for use in some Enterprise Zone areas. The relief will only be available to trading companies. The plant must be new and represent an […]
The Government has confirmed that pensions auto enrolment will commence in Autumn 2012 and all employers will remain within the scope of the rules. However small businesses, those with less than 50 employees, will be given additional time to prepare for the implementation. The government have confirmed that no small employers are affected by the […]
New company car advisory fuel rates have been published to take effect from 1 December 2011. HMRC’s website states: ‘These rates apply to all journeys on or after 1 December 2011 until further notice, allowing them to reflect fuel prices more quickly. For one month from the date of change, employers may use either the […]
With CGT at only 10% if entrepreneurs’ relief is available, and otherwise the tax being at 28%, we are always on the lookout for ways of getting the tax take on a sale at the 10% rate. Any ideas must be watertight and relate to individual circumstances, as otherwise it may be impossible to resist […]
The government has been consulting on introducing a Statutory Residence Test (SRT). The test which was expected to be introduced from 2012 has been delayed until 6 April 2013. More details are expected to be announced in the 2012 Budget. There is currently no definition of ‘residence’ in UK tax law and yet the liability […]
The CBI commented on a report by Mary Portas on the future of the high street. Dr Neil Bentley, CBI Deputy Director-General, said: ‘Retail represents about 10% of our economy, and the high street is a vital part of this. The Portas Review makes some sensible suggestions about how we can inject life back into […]
These are being extended and aim to bring together various HMRC compliance and enforcement teams for what they delightfully call “intensive bursts of activity targeted at specific sectors and locations where there is evidence of high risk of tax evasion”. Five new taskforces have been announced, with more promised, and if you run a business […]
The quality of our advice has seen us accredited with coveted Platinum Partner status by Xero – a leading provider of accounting software.
The quality of our advice has seen us accredited with Gold Partner status by FreeAgent – a leading provider of accounting software.
Request a call back