Posts Categorized: Uncategorized

Gift Aid Small Donation Scheme

Press Release Gift Aid Small Donations Scheme 11th February 2013   The Gift Aid Small Donations Scheme (GASDS) is a new scheme which will be implemented by HMRC from 6th April 2013 to enable charities to claim a Gift Aid top up on small cash donations without requiring the donor to provide a Gift Aid… Read more »

Green Car Scam

Please don’t be taken in by a scheme which claims to reduce the taxable benefit of your company cars. The taxman has specifically warned taxpayers about this scheme on the spotlights page of his website. The scheme promoters persuade employers to buy carbon credits to off-set against the carbon dioxide (CO2) emissions of company cars…. Read more »

SEIS – The Opportunity

The Seed Enterprise Investment Scheme (SEIS) will have a limited life – only five years to 5 April 2017. It allows investors to receive 50% income tax relief on the amount invested and up to 28% capital gains tax relief for a limited period. Also if you make a loss on the SEIS shares you… Read more »

February Key Tax Dates

2 – Last day for car change notifications in the quarter to 5 January – Use P46 Car 19/22 – PAYE/NIC and CIS deductions due for month to 5/2/2013 28 – Talk to us about year end and pre-budget planning First 5% penalty surcharge on any 2011/12 outstanding tax due on 31 January 2013 still… Read more »

Letting Relief Explained

If you have let a property which was once your main home, or was treated as your main home as you lived in job related accommodation, letting relief can help reduce the tax you pay on the eventual sale. This tax relief cannot apply to a buy-to-let property that has never been occupied by the… Read more »

Tax Schemes & Swiss Bank Accounts

Have you received a letter from the Taxman recently, inviting you to pay tax avoided by using a tax scheme or Swiss bank account? The specific tax avoidance schemes involve one or more of the following: – the manipulation of accounting rules; – British film tax relief; – artificial trading losses. The Taxman believes these… Read more »

Filling in your Tax Return in time!

HMRC have reported that there are still 6 million people who have not yet filed their Self Assessment Tax Return and time is running out. The Self Assessment Tax Return deadline is looming (31 January) and leaving your return to the last minute could cause you to make careless errors. To avoid making mistakes, filing online… Read more »

Start up backers encouraged

The tax break scheme which has been labelled “ridiculously generous” by governement’s enterprise advisers is being encouraged to be taken up by backers of start up businesses. As we reported yesterday, The Seed Enterprise Investment Scheme (SEIS) offers 50% income tax relief on investments of up to £100,000, while a capital gains tax holiday means… Read more »

Seed Enterprise Investment Scheme – A Great Deal

HMRC is promoting the little-known scheme (SEIS) and specified investors can utilise a method known as ‘carrying back’ to circumvent paying capital gains tax on investments in enterprises before April 2014.  This is a year longer than expected.   Tax reliefs of 50% on investments of up to £100,000, a capital gains tax holiday meaning tax… Read more »

Late VAT returns will be targeted by HMRC

As many as 50,000 businesses that have failed to submit VAT returns will be targeted by HMRC this month with warnings that their tax affairs will be closely scrutinised. The VAT outstanding return campaign is aimed at businesses that have one or more VAT return outstanding, and have been told to submit their returns but… Read more »