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August 2013

  • My Tax Return Catch-up

    Newsletter issue - August 2013. The Taxman has launched a campaign to persuade tardy taxpayers to submit their over-due tax returns for 2011/12 or earlier years. If you have a personal tax return form (or notice to complete a tax return) sitting in a drawer, and have been putting off the tedious task of completing…More

  • Self-billing Change

    Newsletter issue - August 2013. The procedure of 'self-billing' is frequently used in the publishing and construction sectors, where a large business customer engages lots of smaller businesses as suppliers (eg authors or subcontractors). The customer issues self-billed invoices on behalf of the small suppliers, usually with the payment to each supplier. If you are…More

  • RTI for Seasonal Workers

    Newsletter issue - August 2013. Have you taken on casual workers this summer? Perhaps you are paying piece-rates for the amount of produce picked or packed by each person. Reporting such small and variable payments under the new RTI system is a significant hassle. The RTI rules require you to report each payment to workers…More

  • VAT Mistakes

    Newsletter issue - August 2013. If your company makes a deliberate VAT mistake, which results in less VAT being paid over to HMRC than is correctly due, you as the director of that company can be issued personally with a penalty. This very rarely happens, but the VATman does have the power to impose such…More

  • August Question and Answer Section

    Newsletter issue - August 2013. Q. I am thinking of investing some money in premium bonds. Are there any tax advantages or disadvantages? A. You won't receive interest on the money held in premium bonds but any prizes you receive from those bonds are tax free. The prize fund is calculated on the basis of…More

  • August Key Tax Dates

    Newsletter issue - August 2013. 2 - Last day for car change notifications in the quarter to 5 July - Use P46 Car 19/22 - PAYE/NIC and CIS deductions due for month to 5/8/2013More

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