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Articles tagged with: HMRC

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[19 Mar 2018 | Comments Off on Reclaiming foreign VAT | ]
Reclaiming foreign VAT

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[28 Nov 2017 | Comments Off on Dynamic coding for PAYE | ]
Dynamic coding for PAYE

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[16 Apr 2017 | Comments Off on Director shareholder payments 2017/18 | ]
Director shareholder payments 2017/18

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[8 Feb 2017 | Comments Off on VAT Flat Rate Scheme – The New Rules from 1 Apr 2017 | ]
VAT Flat Rate Scheme – The New Rules from 1 Apr 2017

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[28 Jun 2016 | Comments Off on HMRC System Borked | ]
HMRC System Borked

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[12 May 2016 | Comments Off on National Insurance Contributions and the UK State Pension | ]
National Insurance Contributions and the UK State Pension

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annual »

[8 Apr 2016 | Comments Off on Director shareholder payments 2016/17 | ]
Director shareholder payments 2016/17

In the good old days there was an easy way to work out the optimum pattern of salary and dividends for directors of small UK companies. With the advent of the Finance Bill 2016 the situation has become hopelessly complex and that prompted AccountingWeb to publish a critical blogpost. Here’s the first bit with the all important table:

If you want to see the blogpost in full you’ll have to sign up for membership of AccountingWeb. It’s a free resouce for accountants!
And, as we said in our 30 Nov 2015 blogpost, …

getting things done »

[12 Feb 2016 | Comments Off on Wriggle Room and Late Filing Penalties | ]
Wriggle Room and Late Filing Penalties

Do you have a penalty notice from HMRC relating to the late filing of a 2013/14 or 2014/15 Self Assessment tax return?
Then you may be interested in a working practice which HMRC introduced recently, because they don’t have enough staff to check “reasonable excuse” claims. And whatsmore, they have extended the meaning of “reasonable excuse” which used to be limited to things like . .

Death of a close relative
Burglary
Flood

. . . to include a number of lesser reasons which they previously refused to accept. So “reasonable excuse” now includes . …

one offs »

[30 Nov 2015 | Comments Off on Dividend Tax 2016/17 | ]
Dividend Tax 2016/17

Significant changes to the taxation of dividends will take effect from 6 April 2016
Planned changes:

10% notional tax credit being scrapped
Introducing a tax free Dividend Allowance of £5,000
Then, dividends tax rates will be set at 7.5% for basic rate taxpayers, 32.5% for higher rate taxpayers and 38.1% for additional rate taxpayers.

In short, this means that the majority of owners of small limited companies, who take a small salary and large dividend, will see a significant increase in their personal tax bill. With the exception of the first £5,000 tax free band, …

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[16 Nov 2015 | Comments Off on Buy To Let – new tax rules | ]
Buy To Let – new tax rules

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