January 2015
A record number of people have filed their online tax returns over the festive period this year, with HMRC stating that they received a 5% increase in submissions compared to last year. The figures show that on Christmas Eve, 17,644 returns were filed online – an increase of 4% compared to 2013. Whilst people were […]
READ MORENovember 2014
You may have recently seen a television advert run by HMRC promoting employment allowance. Employment allowance is legislation that allows businesses to claim, as of April 6th 2014, up to £2,000 a year in class 1 national insurance contributions. If your class 1 NIC contributions are less than £2,000 you will not have to pay […]
READ MOREOctober 2014
What Can We Do? Inheritance Tax is applicable to those whose estate, including assets held in trusts and gifts made anytime up to 7 years prior to the owner dying, exceeds the sum of £325 000 (correct as of 2014): and, naturally, as experienced and highly qualified accountants, we are experienced at minimising inheritance tax […]
READ MORESeptember 2014
Changes to the RTI penalty regime have been announced. It’s good news for small employers (less than 50 employees) who now will not be charged penalties for late reporting of RTI until 5th March 2015. Last month there was an extension for Micro employers (1 to 9 employees) which means that penalties for them […]
READ MOREAugust 2014
HMRC Kicked Into Touch, But Claiming A Foul! HMRC have recently lost the case they raised against Rangers Football club and a tax reduction arrangement used by the club, which HMRC do not like. In the First tier Tribunal HMRC lost and appealed to the Upper Tier Tribunal where they lost for a second time. […]
READ MOREJuly 2014
A Pension Intention If you listened to the Radio on 23rd July, you may have heard the announcement that the government intend to reduce the uplift in the state pension for those who defer taking it, to 6% with effect from April 2016. No much of an announcement, but it is one that could have […]
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