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Like all firms of accountants we are currently deeply involved in ensuring that client’s tax returns for 2011 are submitted by the due date of 31st January 2012. However, it is never too soon to plan for the current taxa year which ends on 5th April 2012. There are some tax saving opportunities available which … Continue reading Tax Planning 2011 – 2012
Keeping an eye on Cashflow can not always be given the priority it deserves or needs. Most have to juggle their time and concentration on many other aspects to achieve a successful business, as follows: Sales – ensure products are as described and that customer needs are met. Staff – where applicable, ensure you recruit … Continue reading Cashflow Monitoring. Why It’s Important
This is the biggest change to PAYE since it was introduced, and it is important that if you operate a payroll you are ready. Basically, instead of supplying information at the end of the tax year, as at present, employers will need to submit the information to HMRC every time a payment is made. The … Continue reading Payroll Real Time Information And Preparing For It
This week, HM Revenue & Customs (HMRC) is sending penalty letters to around half a million people who have not yet sent their 2010/11 tax returns. These will amount to £1,200 or more – £900 in daily penalties for non-filing and a £300 late-filing fee, or five per cent of tax due, depending which is higher. … Continue reading How Much You Will Be Charged For Filling Your Tax Returns Late
Main Provisions affecting the majority of people are as follows: Personal Allowances It had already been announced that for anyone under 65 the personal allowance will be increased by £630 to £8,105. The allowance is reduced by £1 for every £2 of adjusted net income over £100,000. So for 2012/13, the allowance ceases at adjusted … Continue reading Budget 2012