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HM Revenue and Customs (HMRC) have announced the latest in a string of initiatives designed to collect more tax.  This initiative, called the Electricians’ Tax Safe Plan, focuses on electricians who are not paying the right amount of tax and is similar to the 2011 initiative aimed at plumbers. The aim is to focus on people who …

If you are an employer, you may need to apply for a dispensation. Why? Because expenses reimbursed from an employer to employees – including directors – should be included as income on a personal tax return, with a corresponding claim of expenses for exactly the same amount.  This amounts to a lot of work for …

Whether an individual is an employee or self-employed in a particular situation is a question of fact depending on the terms under which he or she works.  When you engage someone to do work for you, you have to decide whether or not to apply the PAYE rules.  It is up to you to get …

HM Revenue and Customs (HMRC) have announced an extension to the filing deadline for 2011 Self Assessment tax returns, due to planned strike action on 31 January. The deadline is now 2 February 2012. A statement released by HMRC read: Self Assessment deadline To make sure our customers are not disadvantaged if they cannot get through …

We recently had a visit from a company director who was out of his depth.  The company had been formed (and effectively run) by his father, who had produced accounts.  Unfortunately they had not been filed with Companies House (nor had the annual return), and were 10 months late, attracting a penalty of £1,500.  There …

If you have a business, chances are you’ll also have a self assessment tax bill due at the end of January.  The following is a quick summary of how to deal with it: 1. The Deadline If you have a tax bill for the 2011 tax year, it is due by 31 January 2012.  Failure …

2012 sees the reduction in the Annual Investment Allowance (AIA), the generous tax relief available on the purchase of assets.  From April 2012, the concession reduces from £100,000 to £25,000.  We highlighted this in our blog from May 2011.  However, we thought we would describe a scenario to outline the importance of getting the timing …

2011 Tax Returns have to be filed by the end of January, so you haven’t got long.  Anyone can complete and submit their own personal tax return.  The following tips may help you: It is now too late to file a paper return, so it must be done online.  If you haven’t already registered to …

 Companies House are encouraging companies to file their documents online, which we are more than happy to do, as it is quicker, easier and reduces the chances of documents getting lost.  However, whilst there is the choice between filing online or by paper, there is also the risk of company hijacking, whereby fraudsters steal the …

The office will be shut for Christmas at 1.00 p.m. on Friday 23 December. We will reopen on Tuesday 3 January.