The forms P11D, and where appropriate P9D, which report benefits and expenses for both employees and directors for the year ended 5 April 2013, are due for submission to HMRC by 6 July 2013. Employees pay tax on benefits provided as shown on the P11D, either via a PAYE coding notice adjustment or through the […]
Tax credit customers are being reminded by HMRC that they must renew claims by the 31 July deadline or their payments may stop. Tax credits claimants are also being warned to be vigilant as last year the renewals process triggered more than 22,000 scam or ‘phishing’ emails being sent out by fraudsters in the run […]
The Queen’s Speech set out the government’s legislative programme for the 2013/14 Parliamentary session including confirmation that the government plans to introduce an annual £2,000 National Insurance rebate for employers from April 2014. John Cridland, the CBI Director-General, said: "Business does not need a raft of new bills at this stage of a Parliament. You […]
After much debate the Growth and Infrastructure Act is now law. One of the clauses contained within the Act introduces a new employee shareholder employment status, under which an employee or new recruit can agree to trade certain employment rights for shares in the company. The House of Lords finally accepted the clause after the […]
HMRC have announced that their High Net Worth Unit, which deals with the tax affairs of 5,800 people with assets in excess of £20m, increased its yield from tax enquiries by 10% in 2012/13 to £220m. Exchequer Secretary to the Treasury, David Gauke, said: "HMRC’s High Net Worth Unit provides the specialist attention they require […]
From 6 April 2013 the rules that determine whether an individual is resident in the UK for tax purposes have changed. These rules are known as the Statutory Residence Test (SRT). For the majority of individuals determining whether or not they are resident in the UK for tax purposes is quite straightforward and under the […]
HMRC have issued guidance on RTI and annual schemes, including clarification of the requirements and operating annual PAYE schemes in real time. They have also published guidance for employers on what to do if they have been reporting payments to employees in RTI which do not match with the actual date of payment or with […]
As mentioned in the tax diary, the deadline for filing the 2012/13 returns of benefits and expenses paid to employees is not far away. Great care is needed in completing these forms which look somewhat innocuous but in reality have to be completed with great care if you want to be certain that all is […]
If you have an overdrawn loan account with your company, there is a tax charge on the company unless the loan is cleared within 9 months of the end of the period to which accounts are prepared. Nasty anti-avoidance measures have been introduced to stop companies avoiding the tax charge. In particular when the loan […]
Date What’s Due 1 June Corporation tax for year to 31/8/12 19 June PAYE & NIC deductions, and CIS return and tax, for month to 5/6/13 (due 22 June if you pay electronically) 1 July Corporation tax for year to 30/9/12 6 July Forms P11D and P11D(b) for 2012/13 tax year, and where appropriate form […]
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