Scott & Wilkinson Blog | Archive 2012

Please select a news items listed below which maybe of interest to you. Alternatively, please review our archives down the right-hand side, searching either by category or by date. If any of them are of interest and you require more information, please do not hesitate to contact the office.


Tax Free Staff Perks to be Reviewed

Date: 27/12/12

The Government is to review tax-free perks which many employers offer to their staff. Chancellor George Osborne has asked the Office for Tax Simplification (OTS) to carry out a review of workplace expenses to see if more tax should be paid. This... Read More

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Business Records Checks Resume

Date: 19/12/12

HM Revenue and Customs (HMRC) has now relaunched its Business Records Checks (BRC) programme. The pilot scheme was first launched in April 2011, but BRCs were suspended in March this year to allow further consultation to be carried out, amid claims... Read More

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RTI Errors will be Penalised from April 2013

Date: 17/12/12

HM Revenue and Customs (HMRC) will be taking a tough stance on errors in PAYE submissions when Real Time Information (RTI) is launched next year. HMRC has announced that it will impose financial penalties for errors in submissions from April 2013,... Read More

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Annual Investment Allowance - all change again

Date: 13/12/12

In his recent Autumn Statement, the Chancellor announced a number of changes which will impact on businesses in forthcoming tax years.   One of the more immediate changes is the temporary increase in the Annual Investment Allowance (AIA) from £25,... Read More

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VAT - Self Storage

Date: 20/11/12

Up until 1 October 2012, the provision of a clearly defined space (technically known as a 'licence to occupy land') for the self storage of goods was exempt for VAT purposes. Self storage, as the name suggests, is the letting of space to a third... Read More

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Children In Need 2012

Date: 19/11/12

We are please to announce that following a week of baking and a tombola we have managed to raise an amazing £500 towards Children In Need. Thank you to everyone who not only baked and brought in tombola prizes but also to those who came in to buy a... Read More

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Sage 50 - When to Upgrade

Date: 01/11/12

The answer is 'it depends'. More often than not, there is generally no need to upgrade between one year and the next. Each year Sage adds new features to their software. Some of these new features are fairly minor meaning an upgrade isn't really... Read More

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High Income Child Benefit Charge

Date: 24/10/12

In the 2012 Budget the Government introduced a new charge which will apply to high earners where they or their partner claim Child Benefit. It is expected that up to 1. 2 million families will be affected. Taxpayers affected are those where they or... Read More

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What's new in Sage 50 2013

Date: 23/10/12

Each year Sage adds new features with the aim of making the software more user friendly.   A full breakdown of ? What? s new? can be found by clicking on the following link Read More

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HM Revenue and Customs cracks down on personal tax

Date: 16/10/12

In addition to targeting smaller businesses, HM Revenue and Customs also appear to be targeting smaller amounts on individuals personal tax returns. In 2011/2012 alone, HMRC recovered £440. 6 million from investigations into personal tax returns as... Read More

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HM Revenue and Customs target smaller busineses

Date: 15/10/12

As HM Revenue and Customs (HMRC) increases its focus on smaller businesses, it is advisable that business owners ensure their tax affairs are in order. New figures show that HMRC collected 40 per cent more revenue in tax and fines from smaller... Read More

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Quarter of Employers still unaware of RTI

Date: 15/10/12

New information has revealed that many Employers are still unaware of the new requirements concerning the way they will have to report their payroll figures to the tax office. The Real Time Information (RTI) system will be mandatory for all... Read More

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Real Time Information (RTI)

Date: 28/09/12

Real Time Information is a new system being introduced by HM Revenue and Customs (HMRC) to improve the operation of the Pay As You Earn (PAYE) system. In principle, the RTI system entails submitting payroll information electronically to HMRC on or... Read More

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VAT on Holiday Caravans

Date: 21/09/12

In May 2012, HM Treasury announced a change to the treatment of VAT on holiday caravans from zero-rated to reduced-rated. Currently, caravans that exceed either 7m in length or 2. 55m in width are zero-rated as they are deemed to be designed for... Read More

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