Scott & Wilkinson Blog - Page 39
Please select a news item listed below which may be of interest to you. Alternatively, please review our archives at the bottom of the page by year. If any of them are of interest and you require more information, please do not hesitate to contact the office.
Partnerships targeted by HM Revenue and Customs
Date: 06/06/13
HM Revenue and Customs (HMRC) has recently published a consultation which is proposing to change how mixed partnerships are taxed. New rules are intended to counteract certain tax avoidance schemes but genuine mixed partnerships may also be... Read More
Changes to childcare voucher scheme
Date: 05/06/13
The existing tax-free employer childcare voucher scheme is to be scrapped, with a more generous system set to take its place. The new tax-free childcare scheme (TFC) will be introduced in autumn 2015 and will be available to households where both... Read More
New advice on national insurance numbers
Date: 04/06/13
New guidance has been issued to employers operating PAYE after HM Revenue and Customs (HMRC) issued a number of national insurance numbers that were missing a final letter, meaning they are incorrect. Following the introduction of PAYE Real Time... Read More
Gift Aid Small Donations Scheme (GASDS)
Date: 29/05/13
GASDS allows eligible charities and Community Amateur Sports Clubs (CASC's) to claim Gift Aid style 'top-up' payments on small cash donations without requiring the donor to provide a Gift Aid declaration. The Gift Aid Small Donations Scheme came... Read More
HMRC to target property sales
Date: 07/05/13
From September 2013, HM Revenue and Customs (HMRC) will begin a tax review into residential property sales. The new Property Sales Campaign (PRC) will see HMRC reviewing the tax records of those who have sold residential properties but not reported... Read More
Tax benefits of investing in agricultural land
Date: 06/05/13
Investors can protect their wealth from Inheritance Tax, which is chargeable at up to 40%, by investing in agricultural land. Typically where an investor purchases agricultural land at least seven years prior to death and in this time it has... Read More
Students warned over PAYE shake-up
Date: 03/05/13
Students are warned to check their tax following the introduction of Real Time Information (RTI). Due to the erratic nature of their work during vacations and/or term time, the frequency of their jobs, number of jobs, or agency work, the tax regime... Read More
Preparing your accounts for income tax purposes the cash basis
Date: 01/05/13
You may have heard that the Government has been considering whether to allow some small businesses to compute taxable profits for the purposes of income tax on a cash basis rather than the usual accruals basis. The Government has recently issued... Read More
Tax relief set to help employers manage sickness absence
Date: 16/04/13
Business owners are advised that they will be able to benefit from tax relief when they pay to help their employees return to work after sickness. Employers will receive tax relief on expenditure of up to £500 on support such as health treatment... Read More