Newsletter
Winter 2012
Payment Protection Insurance has been covered extensively in the media. However, the matter of tax due on any successful claim seems to have been omitted from the headlines. Our article 'Payment Protection Insurance (PPI)' sets out the tax position.
Food for thought
The furore surrounding the 'pasty tax' and the subsequent U turn by the Chancellor was covered in detail by the media so where exactly are we now?...
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Payment Protection Insurance (PPI)
This is a subject that is something of a hot potato at the moment with widespread coverage in the media and via the internet about making a claim if you believe you have been mis-sold this product...
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Employers - have you thought about pensions for employees?
New duties on employers have been introduced to help more people save for their retirement...
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VAT Flat Rate Scheme
The flat rate scheme for small businesses was introduced to reduce the administrative burden imposed when operating VAT...
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Use of home as office - expenses for the self-employed
The changes in technology during the last decade have been massive. Developments in mobile devices and cloud based computing provide accessible and flexible communication...
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Another income tax return deadline is looming
Income Tax returns for the 2011/12 tax year are due to be with HMRC by 31 January 2013. This is the second tax year for which HMRC can charge significantly higher penalties for the late submission of returns. There are around 500,000 people who discovered in August or September what this means because they had still not submitted their 2010/11 tax returns. These returns should have been with HMRC by 31 January 2012...
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Employers - watch out if PAYE and NIC is paid late to HMRC
In April 2010, a new penalty regime was introduced by HMRC for the late payment of monthly PAYE and NIC by employers. The penalties are structured on a sliding scale. The more late payments in a tax year, the larger the percentage penalty applied to the aggregate of the late payments. A 4% penalty is payable if there are ten or more defaults during the tax year...
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HMRC Latest Initiatives
The Government have made an investment in HMRC of over £900m to crack down on tax avoidance, evasion and fraud with the aim of raising an additional £7 billion each tax year by 2014/15...
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