Accountants in Cannock who help you keep more of what you earn.
[hidepost=0]From the 11th of January, HMRC have been running a Tax Health Plan. Will this measure affect you?[/hidepost]
Similarly to the recently push for offshore accounts to be declared the plan aims to get people in the medical industry such as dentists or doctors to save themselves some pain and come forward about any undeclared income. If undisclosed income is declared before 31st January, a special 10% penalty tax rate will be used. If not, you could be subject to a teeth pulling investigation.
To bleak-en your view on HMRC's here a link to a site with an interesting view on tax inspections. Enjoy! Go to Tax Hell.
As of April 2010, tax and NI has been removed on private use of an electric van. At present, someone who has use of a van for private us has to pay tax on the benefit in kind. With tax and NI on top of the BiK the cost is nearing £4000. But in making the most of this you can make a huge saving. While the deal isn't as good as the car scrappage scheme we witnessed last year this is a good scheme if your or your employer is in the market for a new van, an electric one might the most tax efficent move. The main suppliers of electric vans is Megavan or Modec but the market will be expanding soon given the big push of electric vehicles.
New £3,500 tax trap awaits company van users at the supermarket
In this article we consider a case law which explores the definition (and potential liabilities) of de facto and shadow directors and we also look at the particular problems which can arise within groups of companies when the separate legal status of each company is not appreciated or respected.
As with any unpaid debt, HMRC have the power to charge interest on your unpaid tax. But what do you do when interest & surcharges are being charged unnecessarily and your leave you out of pocket? Here we have constructed a simple guide for claiming back charges that should of never been.
A happy new year to all our readers! As the new year rolls in, the VAT rate rolls up to 17.5% again. The obvious effect of this being your charging your customers and paying Her Majesty 2.5% more. This means that if your goods total £100 your total invoice value will be £117.50. Don't forget to change your spreadsheets otherwise you may find yourself out of pocket by 2.5%!