The Chancellor’s Autumn Statement on 29 November may have reflected a gloomy outlook for the UK economy but there are some matters worth looking at. We would like to draw your attention to the Summary of 2012/13 rates and allowances which has been published on the HM Treasury website. Just click on the link or double-click the PDF file attached. […]
The UK/Swiss Tax Agreement was signed and published on 6 October 2011. All UK resident tax payers who have banking arrangements in Switzerland will have decisions to make in consequence of this Agreement, whether the funds held are fully disclosed or non-compliant. Where income and gains have not been reported, tax payers will need to […]
HMRC has stared to target anyone who receives income from private tutoring and does not declare and pay tax on the income. Those providing tuition, instruction or coaching, which could include tuition of traditional academic subjects, fitness, dance instruction, musical instrument tuition, art, or services provided by life coaches and others, have until 6 January […]
The Department for Business, Innovation and Skills has announced the national minimum wage rates from 1 October 2011: the adult rate will increase by 15p to £6.08 an hour the rate for 18-20 year olds will increase by 6p to £4.98 an hour the rate for 16-17 year olds will increase by 4p to £3.68 […]
If you have been paying HM Revenue & Customs (HMRC) any type of tax using Bank of England sort codes and account numbers, you will need to change bank account details immdiately. With effect from 9 August 2011, you will no longer be able to use the Bank of England accounts. Any payments directed to Bank […]
We have been asked a few times now why, if you are a director of your own company, we have set the salary levels this year at £602.08 per month, which equates to £7,225 for the year, rather than at the personal allowance threshold of £7,475 (£622.92 per month). This is because this tax year, […]
If your are self employed, namely a sole trader or a member of a partnership, you will know you have to pay Class 2 National Insurance Contributions (NICs). These are currently set at £2.50 a week which equates to £130 a year. From April 2011, the due date for payment of this liability has changed […]
HMRC has just published proposed legislation for a new statutory residence test. There is a consultation period until 9 September 2011. It is envisaged that this new statutory test for residence here in the UK will become law from 6 April 2012. If you would think this could affect you and you would like to […]
HMRC has just published proposed legislation for the reform of the tax treatment of non-UK domiciled individuals. There is a consultation period until 9 September 2011. The new proposed rules aim to balance an increase to the tax paid by non-UK individuals who have been resident in the UK for some time against stimulating inward […]
e would like to draw to your attention some key changes concerning the penalties that will be charged if your 2010/11 tax return is filed late or your tax is paid late. Penalties for filing late One day late and you will be charged an initial penalty of £100 (even if you have no tax […]
© Copyright 2024 David Beckman & Co Ltd. Registered number 04744238 Registered in England. Regulated by the Institute of Chartered Accountants in England & Wales for a range of investment business activities. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers.
Website Created by Web Motivation.
