self assessment

This tag is associated with 23 posts

PAYE – Tax Code Update

PAYE – Tax Code Update HM Revenue & Customs are looking to minimise further problems with tax codes, which is a welcomed acceptance that all is not well in the tax code processing office at HMRC, we have certainly experienced an increase in incorrect coding notices being issued to clients this year. The last two years have been […]

Time is running out on the tax amnesty for plumbers, gas fitters and heating engineers

The clock is ticking on a Tax Amnesty offered by HM Revenue & Customs (HMRC) to plumbers, gas fitters and heating engineers who have previously not reported all of their trading receipts. Plumbers and heating engineers were offered a special plan with set penalties to put right their tax affairs this March, which expired at […]

Budget 2011 – An Overview for Limited Company Contractors

Budget 2011 – A General Overview Earlier today Chancellor George Osborne delivered his second Budget since the election of the coalition government in 2010. Addressing MPs, Mr Osborne said he did not need to ask the public for more taxes or more spending cuts.”This is not a tax-raising Budget, nor can we afford a give-away,” […]

How much dividend can you pay income tax-free from 6th April 2011?

How much dividend can you pay tax-free from 6th April 2011? The 2011-12 tax year starts in less than two months. Tax-free allowances are going up to £7,475, which is a welcome enhancement. However, the point at which you’ll start to pay higher rate income tax is coming down by £1,400, which is not such […]

Self Assessment – Final Week….

There are just a few days to the 31st January deadline for paying the tax you owe for that year and to make the payment on account for 2010/11. If you’re late you’ll be charged interest and if any of the 2009/10 tax is still outstanding after 28th February, the HMRC will levy a surcharge of 5% of the […]

Don’t forget to file your Self Assessment Tax Return….

SELF ASSESSMENT REMINDER We hope that all of our clients and readers have had a great Christmas and you are all gearing up for the last leg of the celebrations this evening! Unfortunately it’s approaching that time of year again where everyone starts to scramble around for their paperwork to complete their Self Assessment Tax […]

Incorrect Tax Codes….

The PAYE System Is your Tax Code Correct? Around this time of the year HM Revenue & Customs start working out PAYE tax codes for 2011/12 and issuing them to individuals. Based on HMRC’s recent poor accuracy record, nearly a third of these tax codes will be incorrect. To ensure that yours is not one […]

Self Assessment – HMRC Mistakes

SELF ASSESSMENT Do you know your tax return rights? It’s been a busy couple of years for the Taxman overhauling the time limits and the penalty system. But do you know where you stand under these new rules if he makes a mistake processing your tax return? No-one can have missed all of the recent […]

The only gift you will get from the Tax Man this Christmas – a tax free Christmas party!

Primus Accountancy are not the first to tell you that Christmas is coming, the Coca Cola advert is already on the TV, the shops are already stacked to the rafters with literally thousands of boxes of chocolates, and TV chefs are already fighting to provide the best most succulent turkey recipes! Well even if you […]

Cycle to Work Scheme Update

Is the Taxman back-pedalling on cycle schemes? Last December the Taxman claimed that some employers were incorrectly using the cycle-to-work scheme to avoid tax and NI. He’s now updated his guidance on this; what’s changed? Conditional tax savings A CTW scheme allows you to loan your employees bicycles without them being treated as a benefit-in-kind. […]