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Monthly Archives: March 2014

Tax Diary April/May 2014

  1 April 2014 – Due date for Corporation Tax due for the year ended 30 June 2013.  19 April 2014 – PAYE and NIC deductions due for month ended 5 April 2014. (If you pay your tax electronically the … Continue reading

Posted in Business

State Pension and tax

If you have recently started to receive your State Pension, you may, or may not, have noticed that it is paid without deduction of tax. This can have a number of unforeseen tax consequences: If your total income including your … Continue reading

Posted in Business

HMRC is changing the way they charge interest on late paid PAYE

Employers should note that HMRC is changing the way they charge interest on unpaid PAYE from 6 April 2014. We have reproduced below HMRC’s recent Helpsheet:  For the tax year 2014-15 onwards:  HMRC will charge in-year, rather than annual, interest … Continue reading

Posted in Business

What has not changed since the Budget?

   Entrepreneurs’ Relief  As long as the ownership of your business is structured correctly, and for a minimum time period, then lifetime disposals not exceeding £10m will only be taxed at 10% for Capital Gains Tax purposes.   Cap on … Continue reading

Posted in Business

What has changed since the Budget?

For those born after 5 April 1948 the personal tax allowance is £10,000. It was also announced that from 6 April 2015 this would increase to £10,500. The much publicised change to the taxation of salaried members of Limited Liability … Continue reading

Posted in Business