Is Wear and Tear Allowance worn out?
10th December 2013If you are an owner of a property that is not fully furnished then from April 2013, you have lost a valuable tax relief. Prior to 5 April 2013, you were able to claim a wear and tear...
Archives
December 2013
New Tax-Free Childcare Scheme
10th December 2013The Government has announced that from autumn 2015 there will be a new benefit scheme to help with childcare costs to replace the current childcare voucher scheme. The new scheme, which for the first time will be open...
Presenting Challenges
10th December 2013Most people in business will need to give a presentation at some point in their career this may be an internal meeting between colleagues or a sales pitch to potential customers. These days, the chances are that these...
Running your business from home?
10th December 2013If you run your business from home you can claim a percentage of the running costs when calculating the business’s profits for tax purposes. Historically, this has been estimated by us following a discussion with the client. To...
Are you holding on to VAT that doesn’t belong to you?
10th December 2013If a customer doesn’t pay you, you can claim back any VAT on this payment that you’ve already paid over to HMRC. But what happens if you are withholding payment to a supplier because you’re in dispute with...
HMRC can now access credit card data
10th December 2013With effect from 1 September 2013 new powers allow HMRC to access information from the UK’s credit card merchants on all credit and debit card payments to UK businesses. These powers allow HMRC to ascertain the number and...
Out in Force
4th December 2013Over the last couple of years, HMRC has launched over 30 Task Forces to identify tax evasion in specific market sectors. These Task Forces have on the whole been successful by encouraging tax evaders to come forward by...
PAYE – Late Payment Penalty Alert
4th December 2013If you do fall into arrears with your PAYE payments, you should contact HM Revenue & Customs as soon as possible and request that any payments you make are allocated against your current liability in preference to any...
The Winners and Losers
4th December 2013As of the 2013/2014 tax year, personal allowances will be based upon a person’s date of birth rather than their age, with allowances for older people frozen at their 2012/2013 levels. People born between 6 April 1938 and...
Top 10 tax saving tips
4th December 2013Here are our top 10 ways of saving tax – for you, your family and your business. 1. Maximise personal allowances Ensure that you are making the most of your tax-free personal allowances, which for 2013/2014 is £9,440...
