If you have spent your working life building your business, when you reach the point at which you are considering a sale, planning is critical. VAT, corporation tax, income tax, stamp duty land tax, and capital gains tax are all standing in the wings waiting for you sign on the dotted line; so they can […]
Payroll giving award for HMRC
Payments that your employees make through a Payroll Giving Scheme are deducted from their pay before tax is deducted. This means that employees are given tax relief on their donation immediately – and at their highest rate of tax. It's easy to set up a Payroll Giving Scheme for your business. There's little in the […]
Adapting to Changes in the Market
Due to the turbulence of the current economy, businesses today are having to adapt to constant market shifts. The businesses that adapt best to this “new normal” will thrive as the market improves over the coming years. Every market changes, but some change faster than others. For example, the iron ore industry moves much slower […]
What is a salary sacrifice?
A salary sacrifice is a voluntary reduction in your salary in exchange for tax-free benefits. These benefits can include: • Child care vouchers • Cycle to work schemes • Bus passes for commuters • Canteen tokens • Staff car parking and vouchers The Government have also launched a consultation into the promotion of payroll giving. The aim is promote the […]
Landfill tax clarification
HMRC have published draft guidance on landfill tax. Materials that can be classified as naturally occurring, and therefore taxable at the lower rate of £2.50, include: “Group 1 of the 2011 Order allows the following waste materials to be lower rated: naturally occurring rock, clay, sand, gravel, sandstone, limestone, crushed stone china clay, construction stone, […]
PR Programmes Must Have Objectives
In order to maximise return on investment, PR programmes should serve an actual purpose. PR for the sake of PR will most likely fail to produce a tangible result. Instead, each PR programme your business undertakes should tie in with at least one strategic objective of your enterprise. For example, your strategic objective could be […]
Do you receive Child Benefit?
Many parents who receive Child Benefit may be blissfully unaware that they are walking into a tax trap. From 7 January 2013 Child Benefit payments are effectively means tested by the tax system. If either parent, or both parents, has income in excess of £50,000, then part or all of the Child Benefit you have […]
G20 agree tax crackdown
Although the recent G20 conference in St Petersburg failed to reach a consensus on the best way to deal with the Syria crisis, they did agree on a long term strategy to make it harder to hide money in tax havens. The ultimate goal, to force companies to pay tax in the countries where they […]
Tax Diary September/October 2013
1 September 2013 – Due date for Corporation Tax due for the year ended 30 November 2012. 19 September 2013 – PAYE and NIC deductions due for month ended 5 September 2013. (If you pay your tax electronically the due date is 22 September 2013.) 19 September 2013 – Filing deadline for the CIS300 monthly […]