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| News Features... |
23 April 2009
From 1st April 2009, changes have taken place regarding HMRC enquiries, and the penalty regime...more >> |
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| Hints & Tips |
Tax Year End
The tax year ends on the 5th April
Employer Anual returns
May 19th is the deadline for filing of Employer annual returns (P35, P14 etc). Note on-line filing incentive for small employers is £75 if filed on line by this date..
P60 Forms
May 31st - last date for giving form P60 to each employee working for you at 5 April
P11D Forms
July 6th - P11D’s to be filed with HMRC and distributed to employees
NI Payments
July 19th - Class 1a NI payments due
Capital Gains Tax
From 6 April 2008, capital gains will be taxed at a flat rate of 18%. There is a new ‘Entrepreneurs’ Relief Rate ‘of 10% which will apply to the cumulative lifetime total £2 million of qualifying gains. Gains in excess of this will be taxed at the standard rate. Please contact us for more information on how this may apply to you.
Taxable Car Benefit
Taxable car benefit is calculated on a percentage of the list price, which for the most part will vary according to the level of the carbon dioxide (CO2) emissions, measured in grams per kilometre (g/km).
Self-Employment NIC
If you are self-employed, you must inform HMRC within 3 months, or you may be subject to a fine. The current rate for Class 2 NI is £2.40 per week (from 6 April 2010).
Work Expenses
New guidance is available from HMRC in respect of expenses for use of home for work. See the official documentation from HMRC.gov
VAT Threshold
Businesses with an annual turnover in excess of £70,000 must register with HM Revenue & Customs to pay VAT. |
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