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Tax Diary September/October 2010 - 3rd September 2010

1 September 2010 - Due date for corporation tax due for the year ended 30 November 2009.

19 September 2010 - PAYE and NIC deductions due for month ended 5 September 2010. (If you pay your tax electronically the due date is 22 September 2010...

Pensions - abolition of age 75 deadline - 3rd September 2010

The Government is presently consulting with interested parties to consider changes to the rules that require you to take a pension income from your pension fund by age 75 years. This article will be of interest to you if you are approaching 75...

VAT issues to deal with before 4 January 2011 - 3rd September 2010

Apart from its effect on the cost of living, the hike in the standard rate of VAT to 20% on 4 January next year will have ramifications for registered traders. We have outlined a few of the likely topics that should be considered prior to this...

Tax credits - requests for information - 3rd September 2010

HMRC have powers to request information that underpin your claim for tax credits. If you fail to comply with their request you may find your tax credit payments are suspended.

To make matters worse there are no clear statutory rules about...

Online filing PAYE forms, P45 and P46. - 3rd September 2010

PAYE form P45 is issued to employees when they leave your employment. Form P46 needs to be completed when you take on a new employee who does not have a P45 from a previous employment. In both cases these forms need to be filed with H M Revenue...

Annual Investment Allowance (AIA) - 2nd August 2010

Businesses can currently write off 100% of the cost of acquiring qualifying assets against their taxable profits, up to an annual limit of £100,000.

Assets that can be written off in this way include commercial vehicles, plant,...

7 day concession to be withdrawn! - 2nd August 2010

Advance warning has been given that after 31 March 2011 HM Revenue & Customs are withdrawing a concession that allows you an extra 7 days to file certain returns.

The returns affected are:

1. Company tax returns.
2....

Student Loan deductions - 2nd August 2010

If you make student loan repayments via your salary, the total repayments in a year need to be entered on your self-assessment tax return, if you are required to fill one in.

Your P60 from your employer at the end of the tax year will...

Salary sacrifice - 2nd August 2010

Under certain circumstances it is possible to sacrifice part of your salary in exchange for a non-cash benefit.

Now that HMRC are increasing the income tax burden of the higher paid -a 50% income tax on income over £150,000 and...

Tax Diary August/September 2010 - 2nd August 2010

1 August 2010 - Due date for corporation tax due for the year ended 31 October 2009.

19 August 2010 - PAYE and NIC deductions due for month ended 5 August 2010. (If you pay your tax electronically the due date is 22 August 2010)

19...