There seems be a trend. Most of the key issues that will be disclosed this week seem to have been leaked to the press prior to the actual budget speech. For example: Inheritance tax (IHT): the government will fulfil its election promise and increase the tax free value that couples can leave to their families […]
Author Archives: Apple
The Cabinet Office launched an initiative on the 25 June that will provide grants to increase the sustainability of around 250 organisations working in the voluntary, community and social enterprise (VCSE) sector. The fund, which will be delivered by the Big Lottery Fund, will provide grants that will enable recipients to implement organisational changes and […]
Following on from our posting last week. HMRC has underlined its commitment to relaxing the issue of penalty notices, this time for employers having problems meeting the online filing of payroll information. Rather than issue late filing penalties automatically when a deadline is missed, HM Revenue and Customs (HMRC) will take a more proportionate approach […]
From April 2015, persons aged 55 years or older, with defined contribution personal pension pots, can consider cashing in the value accumulated in their fund. Certainly, anyone considering this course of action should take professional advice from their independent financial advisor. The following steps are advised by the Pensions Wise website: Here are some next […]
1 July 2015 – Due date for Corporation Tax due for the year ended 30 September 2014. 6 July 2015 – Complete and submit forms P11D return of benefits and expenses and P11D (b) return of Class 1A NICs. 8 July 2015 – The second Budget Day for this year. 19 July 2015 – Pay […]
HMRC have started the process of sending formal statements to taxpayers who may have under or over paid Income Tax for 2014-15. In a recent press release they said: “We are sending P800s that show an overpayment of tax first, followed by a cheque around a fortnight later. You don’t need to do anything. The […]
From April 2016, the Scottish Parliament has devolved powers to set the Scottish Rate of Income Tax (SRIT). Within the last few weeks it has been widely publicised that this may mean a higher rate of Income Tax in Scotland as compared to the Income Tax rates in other parts of the UK. HMRC have […]
If you are an old hand at setting up a new business most of the content of this article will be a timely reminder of the issues you need to cover in your project to-do list. For first timers, use this article as a guide to see you through what can prove to be an […]
On Wednesday 8th July, George Osborne will present his first budget of the new parliament. He has indicated that there will be no hikes in the major taxes: Income Tax, National Insurance, VAT and Corporation Tax. We shall see… What he will be revealing is how he intends to reduce public expenditure in order to […]
Its official, HMRC does not want to charge penalties! HMRC have made the following announcement on their approach to the £100 late filing penalty for people sending in tax returns late: “We want to focus more and more of our resources on investigating major tax avoidance and evasion rather than penalising ordinary people who are […]