Category Archives: News

A selection of the latest accountancy news

How Much You Will Be Charged For Filling Your Tax Returns Late

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

Budget 2012

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