Only 2 weeks to go – Self Assessment deadline
Self Assessment deadline – don’t be late! Although the deadline for filing your paper tax return has passed, you still have time to avoid a penalty by filing your return online. The deadline for this is, however, fast approaching. Failure to file your tax return by 31st Jan 2013 incurs a £100 penalty, immediate action is therefore required. Read More
Self Assessment deadline – don’t be late!
Although the deadline for filing your paper tax return has passed, you still have time to avoid a penalty by filing your return online. The deadline for this is, however, fast approaching. Failure to file your tax return by 31st Jan 2013 incurs a £100 penalty. Immediate action is therefore required. Read More
Tax-free savings using an Individual Savings Account (ISA)
All ages can benefit from a tax exemption up to certain thresholds as listed below. Under 18’s who do not have a junior trust fund can invest up to £3,600 in a Junior ISA 16 – 17 year olds can invest up to £5,640 in a cash ISA 18+ can invest up to £11,280 in a cash ISA Read More
Up To £25k Annual Investment Allowance
With most types of plant and machinery there is an Annual Investment Allowance (up to £25,000). To maximise relief, spreading the cost of qualifying expenditure over two years can be advantageous. Typically, if you make a purchase just before the end of the accounting year you will qualify for allowances a year earlier. Disposing of an asset also allows an earlier claim for relief – but be aware of the flip side – a potential additional... Read More
Christmas Greetings & Charity Donation
Click on the image to download your pdf copy. Read More
Tax return deadline 31st October 2012
A reminder that the deadline for your paper self assessment return is fast approaching – 31st October 2012. The online submission deadline is 31st January 2013 The reason for the much earlier deadline for paper filing compared with online filing is due to a government effort to gradually phase out paper due to the man hours required to input the information onto the HMRC system. Read More
Increased Scrutiny by Tax Inspectors Continues
In the latest campaign to eliminate tax dodging, tax inspectors are targeting motor traders in Scotland, hair and beauty specialists, and most significantly, the legal profession. HM Revenue and Customs has said that Solicitors and barristers in London are being targeted for a suspected shortfall of £3 Million, with investigators visiting to inspect their books. The Bar Council, which represents barristers, are said to be surprised regarding the... Read More
National Loan Guarantee Scheme
Small businesses could benefit from cheaper rate borrowing due to the new National Loan Guarantee Scheme (NLGS) that was launched in March this year by the Chancellor. This will allow small businesses more access to cheaper finance. Up to £20 billion of Government guarantees will be provided on unsecured borrowing by participating banks, which will see borrowing at a cheaper rate. The benefits of this will then be passed on to businesses, which means... Read More
Important dates in July
19th – 20th July 2012 – Final date for payment of 2011-12 Class 1A NICs 31st July 2012 – Second Self Assessment payment on account for 2011/12 Read More
Tips for Starting Your Own Business
Individuals starting up their own business can be tempted to cut out the middle man by doing everything themselves to minimise costs. This however is not always recommended, as this can be a false economy. It is usually more beneficial for your business to hire a skilled professional to carry out the services they are experts in. Well established businesses will take much interest in providing efficient services for you. This is where long- term... Read More
