Despite a raucous Commons and the speaker saying that pantomime season is not for another 9 months there were not many noteworthy changes announced to elicit this reaction.
The summary of the state of the economy was in brief: inflation target remains at 2%; OBR has said triple dip recession read more
With company cars becoming increasingly targeted by the government these are becoming less of a benefit except to higher mileage business users. For users who may need a van or the load space that is would provide this may well be a viable option read more
The details provided below are in response to requests from clients of AW Accounting in Gravesend for details of what to give your accountant at the year end for your taxes. This specifically relates to Sage read more
This scheme was set up by the government to encourage a healthier workplace, and is available to all employers. There are of course a few conditions and only certain items of equipment may be purchased.
The scheme must be open to all employees, whether or not they can or wish to make use of it and allows the employer to buy and loan to the employee:
- A bike upto the value of £1000
- Safety equipment read more
In the recent case of Dr Samadian, HMRC have won in asserting that some travel from the home office to hospitals for private work was personal rather than allowable read more
This post is specifically for clients and others using Moneysoft Payroll Manager and details the checks and steps you should be taking before RTI is introduced in April 2013. read more
By now most employers will be aware that HMRC is introducing real time reporting of payroll information (RTI: Real Time Information) every time employees are paid. This means that many of the forms which are currently submitted during and at the end of the tax year will be superceded:
- P45 for starters and leavers
- P35 end of year return
- P38(S) for students
- CA6855 NI number trace/check
Employers will need to be more diligent read more
A client just emailed to query his payments on account “I am a little confused as to the payment on account bit…I thought I was due the tax payment now and 50% of this payment in advance of next years tax by july? Am I having to pay 2 lots of advance payments being 100% of my tax figure…I’m sure I have missed something here..” read more
Do you need to protect yourself so that any fees which you may incur in answering an enquiry are covered? With the shortfall in tax revenues to repay government debt HMRC are being funded to collect more tax and taking a more targeted approach. The latest claims figures from the AW Accounting underwriter quite clearly show HMRC activity has increased greatly.
- “The number of claims made against the 2011/12 year was 46% higher than the previous year.” read more
From 1 January 2013 Independent Financial Advisers (IFAs) are subject to a whole new set of rules on how they conduct their business and whether they should charge VAT. The situations in which the service is exempt, and VAT does not have to be charged are bound by stringent rules: read more