Posts Categorized: Uncategorized

HMRC – Property Sales Campaign is for those people who have sold or disposed of a second or additional residential property either in the UK or abroad.  These could include a holiday home or property that you have rented out. The campaign is an opportunity for you to bring your tax affairs up to date, so… Read more »

Fed up of our cold wet summers?  A holiday home on the continent could be just the answer but sadly, holiday homes don’t come  cheap to buy or run.  Personal Tax Costs -v- Company Purchase Option Being able to afford the running costs is one thing, but then finding the capital to buy even a small property might… Read more »

If you are uncertain about whether you can make a claim for VAT you have incurred, or how to treat a certain transaction for VAT purposes, you could try searching the HMRC website for a solution to your query. Alternatively you may ring the HMRC VAT helpline but the adviser is likely to send you… Read more »

Have you been approached by firms that promise you instant cash from your pension fund? This known as pension liberation, and involves taking cash from your pension fund before you reach the retirement age set by your pension scheme. Unscrupulous firms persuade individuals to apply to move their pension funds out of their current scheme,… Read more »

On 15 April 2013 the Government have announced that it proposes to exempt self builders from paying the Community Infrastructure Levy (CIL).  The changes are likely to come into effect during the summer after a 6-8 week consultation. The CIL was introduced under the Labor Government and was implemented by some councils in January 2012. … Read more »

HMRC have admitted that the largest employment tax shake up in the last 70 years may cause more cost to businesses than previously thought. We have reported for months now that the Real Time Initiative (RTI) will cause significant problems to small businesses, causing extra work and receiving feedback from employers, HMRC have now acknowledged… Read more »

In the past sleeping partners and inactive partners didn’t have to pay NI contributions on their partnership profits. However, HMRC changed its view on this in April 2013 and it now considers that all partners are liable to pay NICs in respect of their taxable profits, whatever their level of activity within the business. The… Read more »

2 – Last day for car change notifications in the quarter to 5 April – Use P46 Car 19 – Deadline for Employers’ 2012/13 end of year PAYE Returns (P35, P14, P38 & P38A). Penalties for non submission. 19/22 – PAYE/NIC and CIS deductions due for month to 5/5/2013  31 – Deadline for copies of… Read more »

From 6 April 2013 it has become unlawful for businesses to charge consumer fees on certain methods of payments. Jo Swainson, Consumer Minister welcomed the above news saying “consumers have been ripped off for far too long.” Although payment surcharges will continue, businesses need to be up front and clear about the fees and they… Read more »

Real time information (RTI) has had a bumpy start. In brief these are the major problems and work-arounds discovered so far. Annual PAYE Schemes If you expect to pay all of your employees just once in the tax year, and all on the same date, you can register your PAYE scheme with the Tax Office… Read more »