1 – Due date for payment of Corporation Tax for the year ended 31 March 2012  14 – Return and payment of CT61 tax due for quarter to 31 December 2012  19/22 – PAYE/NIC and CIS deductions due for month to  5/1/2013 or quarter 3 of 2012/13 for small employers  31 – Deadline for filing… Read more »
Posts Categorized: Blog
Streamlined gift aid for charity shops
New rules that will lift the administration burden for charities claiming gift aid on the proceeds of donors’ goods sold by charity shops have been announced by HMRC. The new rules allow donors to make a one-off gift aid declaration that covers donations of up to £100, or £1,000 of future sale proceeds, in a… Read more »
PAYE – RTI is coming!
H M Revenue & Customs are urging employers to get ready for the PAYE changes that are coming into effect in three months time. From April 2013 employers will be required to send PAYE returns electronically, using the new RTI payroll software to HMRC each time they pay their employees as part of the routine… Read more »
Pension Nest Egg for Britains Self Employed
A pension scheme known as NEST (National Employment Savings Trust) has opened it’s doors to everyone wishing to build for retirement. The pension was originally built as a simple and cheap fix for companies without a scheme for their staff, but excluded the self employed, however now it has opened it’s doors to everyone, it… Read more »
HMRC – Streamlined Gift Aid
HMRC have introduced new rules that will lift the administration burden for Charities claiming gift aid on the proceeds on donors gifts, sold by charity shops. The new rules allow donors to make a one off Gift Aid application for donations of £100 to £1,000 of future sale proceeds in a tax year and the… Read more »
HMRC – Settlement opportunity
On 3 December 2012, the Government announced additional investment in HMRC to clamp down on tax avoidance and evasion. Since the announcement, HMRC are inviting some participants in certain schemes to settle their tax liabilities by agreement, without the need for litigation. HMRC believe that this settlement opportunity offers both the taxpayers and HMRC the best opportunity… Read more »
HMRC – “Inner Peace” Campaign
A new advertising campaign due to be launched by the HMRC at the end of this month is urging anyone who has not sent in their 2011-2012 tax return to do it now and find their “inner peace”. The new advert highlights the imminent deadline date of 31 January for online returns and the penalty… Read more »
Tax Rebates for Healthcare Workers
It has been reported that thousands of Healthcare workers have missed out every year, as they fail to claim the tax relief that they are entitled to. If you are a Healthcare worker you may be entitled to tax relief on your subscription to a Union and professional fees you pay every year. You can also… Read more »
Simple tax Scheme for Small Business with T/O of £77k
From April 2013 there is to be a simpler income tax scheme for small unincorporated businesses. In general this will enable self employed individuals and partnerships with a turnover of up to £77,000 to calculate their profits on a cash basis, not to have to distinguish between revenue and capital expenditure and be able to… Read more »
AVOID PROPERTY TRADING TAX
Some people regularly purchase run-down houses, do them up and sell them on. If you do this as part of your building/property development business, the profits made on the sale of the properties may be taxed as trading income (tax rates: 20%, 40% or 50%). If you let the renovated properties, then sell them at… Read more »