Newsletter
Autumn 2012
Our article ‘Are you getting credit?’ looks at the tax incentives on offer for research and development carried out by small and medium (SME) UK companies. This follows the issue of the most recent HMRC statistics which indicate a very low portion of SME companies make claims for the reliefs available so we thought it might be time to take a fresh look at an area which could reap significant benefits.
Lowest paid to get a boost
The National Minimum Wage (NMW) is a minimum amount per hour that most workers in the UK are entitled to be paid...
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Are you getting credit?
Research and development (R&D) by UK companies is being actively encouraged by Government through a range of current tax incentives...
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GADZOOKS!
You may have read that the Government is trying to help small charities with fundraising. This is through a new scheme, the Gift Aid Small Donations Scheme (GASDS)...
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Penalty for pensioner
New style penalties were introduced, broadly, from April 2009 for ‘errors in tax returns’ and apply right across the different taxes...
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Show me the money!
HMRC have always been sceptical about the source of monies introduced into businesses. If you cannot prove the source, HMRC may argue that the monies were ‘fiddled’ and should be taxed...
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Company car or is it a company van?
An employee who by reason of their employment, is provided with a company car will generally (though not in all cases) pay more tax on the benefit than an employee who is provided with a company van. However, distinguishing between a car and a van may not be an easy ride as evidenced in a recent tax case...
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What a wind up
There seems to be a common misconception that businesses which do not pay over their PAYE and National Insurance Contributions (NIC) can just wind up and leave these taxes unpaid but this is not quite true...
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Investment incentives to inspire
The Enterprise Investment Scheme (EIS) and the Venture Capital Trust Scheme (VCTs) are designed to encourage private individuals to invest in smaller high risk unquoted trading companies. The EIS requires an investment to be made directly into the shares of the company. VCTs are quoted investment companies, whose shares are traded on the London Stock Exchange...
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