HMRC have made it clear that they do not send taxpayers emails regarding their tax affairs. So the next time you receive an email purporting to be from HMRC you can safely bet that it is a scam and that it can be safely ignored. Whatever you do, do not follow any links in these […]
Tax Diary May/June 2013
1 May 2013 – Due date for Corporation Tax due for the year ended 31 July 2012. 19 May 2013 – PAYE and NIC deductions due for month ended 5 May 2013. (If you pay your tax electronically the due date is 22 May 2013.) 19 May 2013 – Filing deadline for the CIS300 monthly […]
When is a cost an investment?
Most businesses trade with the intention of making a profit. In order to do this they must pay certain costs. Generally, these fall into two categories: those that have to paid in order to trade, for example rent, rates, heating and so on, and those costs that have a more expansive role in maximising the […]
HMRC Relaxes RTI Reporting Arrangements
Businesses with fewer than 50 employees can benefit from a temporary relaxation of the Real Time Information (RTI) reporting arrangements. Until 5 October 2013, employers with fewer than 50 employees who pay their staff weekly or more regularly and find it difficult to report at the time of payment may now send information by the […]
A sales tax to level the internet, retail playing field?
In the United States a piece of legislation is slowly winding through the approval process and if it becomes law would allow state governments to force Internet retailers to collect sales taxes from their customers and remit the proceeds to state and local government – the so-called Market Fairness Act. The states would be required […]
Interested in making more profit?
We would guess, yes you are? But how? The problem with stagnant markets (i.e. verging on recessionary) is the amount of ‘talking down’ that goes on: don’t know about you but sales have taken a hammering, don’t get the support we need from the bank, and so on… We would like to offer you a […]
What is overtrading?
Imagine that for the next quarter your turnover doubled from £60,000 to £120,000. To achieve the extra turnover you had to purchase product that cost you £60,000. On the face of it this is great news for your business. In three months you will have generated £60,000 (Sales of £120k less direct costs of £60k) […]
National Insurance �2,000 employment allowance
The Government is to introduce an allowance of £2,000 per year for all businesses and charities to be offset against their employer Class 1 secondary NICs’ bill from April 2014. The allowance will be claimed as part of the normal payroll process. The Government will engage with stakeholders on the implementation of the measure after […]
New Childcare Scheme from autumn 2015
A new Childcare Scheme will be introduced to support working families with their childcare costs and will replace the current salary sacrifice scheme. Unlike its predecessor, the new scheme will be available to the self-employed and those on a minimum wage. Also parents will be able to choose their own voucher provider, as the new system […]