David Cameron writes to crown dependencies

Our Prime Minister has written a letter to the UK’s overseas territories and crown dependencies promoting the value of a public register that would show the ultimate owners of companies registered in their jurisdiction. This follows the publication of the “Company ownership: transparency and trust discussion paper” last week. It Read more…

Tax Diary May/June 2014

 1 May 2014 – Due date for Corporation Tax due for the year ended 31 July 2013.  19 May 2014 – PAYE and NIC deductions due for month ended 5 May 2014. (If you pay your tax electronically the due date is 22 May 2014.)  19 May 2014 – Filing Read more…

VAT Mini One Stop Shop (MOSS)

Currently, the place of taxation for broadcasting, telecommunications and e-services (BTE) supplies is determined by the location of the supplier of the services. However, from 1 January 2015, the place of taxation for private consumers will be determined by the location of the consumer. Business to business supplies are unaffected; Read more…

Pension decision period extended

Last month we touched on the changes that HMRC is introducing to the treatment of defined contributions pensions. HM Treasury has now issued the following update that clarifies the position of people who have recently taken a tax-free lump sum from their defined contribution scheme. “The government has announced today Read more…

HMRC may be extending access to taxpayers’ data

The Treasury has confirmed it was proceeding with plans to legislate making aggregated and anonymised data more widely available. In a published document HMRC said: "The government has decided to proceed with the proposal to remove the legal restrictions that currently limit HMRC's ability to share anonymised individual level data Read more…

Unemployment drop…

Figures recently published by the Office for National Statistics show that unemployment has dropped below 7% for the first time since the recession and employment has seen the biggest annual jump in a generation. Unemployment fell by 77,000 in the last 3 months, taking the unemployment rate to 6.9% for Read more…

Don\’t forget to claim Employment Allowance

Employers are reminded to claim the £2,000 Employment Allowance which commenced 6 April 2014. Basically, employers can reduce their National Insurance contributions by a maximum £2,000 in the current tax year.  Here’s the instructions on claiming the allowance as posted on GOV.UK’s website:  “You can use your own 2014 to Read more…