10 Mar 2013
HM Revenue & Customs have announced a Property Sales Campaign. It is targeting any property sales of second homes or holiday homes that have not been disclosed to them. Any profits arising may have a tax liability. If you have made such a sale, you should declare the transaction on your self-assessment tax return. The profit (or more accurately the gain) would be subject to Capital Gains Tax.
If the property sold was your main home, you normally do not pay tax on the profit when you sell ...
Read more
12 Feb 2013
The VAT Outstanding Returns campaign was recently launched by HM Revenue and Customs (HMRC) is targeted at the estimated 50,000 registered businesses that are not up to date with their returns. It is an opportunity for you to bring your VAT Returns and payments up to date.
If VAT Returns are still outstanding after 28 February, these businessed will receive closer attention from HMRC.
Read more
12 Feb 2013
From April, the introduction of Real Time Information (RTI) will require all employers to start providing employee PAYE, National Insurance and Student Loan information to HMRC at point of payment every month and not just at year end as currently.
However despite being the biggest shake-up in the PAYE system since 1944, few small businesses is aware of the changes.
Yet businesses need to start preparing now to ensure they have up-to-date payroll software, hold current and accurate employ...
Read more
