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The Town That Took on the Taxman
There was a great programme on the TV last night. “The Town That Took on the Tax Man’” You can catch up with it on iPlayer here: http://bbc.in/1nnmfQJ A group of traders from Crickhowell, set up a multinational tax avoidance scheme using the same techniques used by the likes of Starbucks, Amazon & Facebook […]
read moreWe are recruiting for a new accountancy apprentice
If you are interested in starting a career in the accountancy profession you may be pleased to hear we are recruiting for an apprentice.
read moreIs VAT recoverable on car derived combi-vans?
HMRC have issued a list of makes and models of car derived vans and combi vans which VAT registered businesses can use to determine if the VAT paid on the purchase can be reclaimed as input tax. The issue is that VAT will normally be claimable in full on the purchase of a commercial vehicle. However […]
read moreAuto Enrolment
We’re posting a series of short blogs regarding auto enrolment, if you are an employer and you have staff this WILL apply to you. Too many employers are still burying their heads in the sand, the start date for the largest employer was 2012 and the smallest employers are caught in 2017. Read on and […]
read moreStarbucks (Tax Planning) vs The EU
The US coffee chain, Starbucks has been receiving some fairly heavy criticism over the last couple of years after it has emerged that they have paid almost no tax in the UK between 2002 and 2012. Actually, it’s amazing that a company which has posted such significant losses within the UK is still trading. Since […]
read moreAll Inclusive Contractor Accounts
We are pleased to announce our all inclusive contractor accounts package: Annual limited company accounts Corporation tax return Quarterly VAT returns Companies house annual return including the filing fee Payroll for no more than 2 employees / directors paid monthly 1 x Personal tax return All for £80 plus VAT per month. For […]
read moreClydesdale bank to relocate to Leeds in the event of a Yes in the Scottish Independence Referendum
Clydesdale Bank who own Yorkshire Bank and who are part of the National Australia Bank Group have announced that they will re-register as an English company if the Scotland is to separate from the rest of the UK following the forthcoming independence vote. This is to provide further certainty to it’s customer during any independence […]
read more2014 Budget Summary
Personal allowances
For people born after 6 April 1948, the personal tax allowance for 2014/15 is £10,000. This will increase to £10,500 from 6 April 2015.
For people born on 5 April 1948 or before, the personal tax allowance for 2014/15 is £10,660.
From April 2015, spouses and civil partners will be able to transfer 10% of their personal allowance to each other, which means £1,050 in 2015/16.
To be eligible to make or receive the transfer, neither party must be liable to tax at the higher or additional rate.
What happens if I file my Annual Return late?
So what happens if I file my annual return late?
Companies House will remind you that it is a criminal offence not to deliver the annual return on time and that the company and its directors could be prosecuted. This could mean the directors have a criminal record and also a £5,000 fine for each document not filed on time.
Companies House will not impose a penalty (unlike the late filing of accounts). Companies House will send increasingly threatening letters warning of removing the company from the register.
read moreHMRC Tax Return Filing Deadline – A Possible Extension
The deadline extension applies to taxpayers who did the following between midnight on 21 January and midnight on 31 January 2014:
Enrolled for the Self Assessment online service, or
Requested a replacement user ID or password
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