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July 2014

  • Real Time Information (RTI) Penalty Notices

    Newsletter issue - July 2014 As an employer you may have received an RTI penalty warning letter accusing you of not submitting all of the RTI returns required for 2013/14. However, that letter may be incorrect. HMRC has admitted that its computer has churned out inappropriate penalty warning letters to employers who have submitted employer…More

  • VAT on Digital Services

    Newsletter issue - July 2014 Do you sell digital services such as: music or software downloads, e-books or online videos? If so, do you know where your customers are, and whether they are businesses or individuals? From 1st January 2015, when you sell digital services across international borders you will have to collect information about…More

  • PAYE Reconciliations

    Newsletter issue - July 2014 If most of your income is taxed under PAYE (Pay As You Earn) you may soon receive a reconciliation of the income tax you have paid compared to the amount that was due to be paid for 2013/14. This calculation arrives on a form P800, which should be checked very…More

  • Scary Letters

    Newsletter issue - July 2014 Have you received a scary letter from HMRC lately? Perhaps all HMRC letters are scary, but this latest nudge-letter really takes the biscuit. In it HMRC says the taxpayer's effective rate of income tax is lower than the average for taxpayers with similar levels of income. It goes on to…More

  • July Questions and Answers

    Newsletter issue - July 2014 Q. Our company's board has decided it needs some expert input to help with the next stage of expansion. We have approached an individual to act as a non-executive director. He wants to invoice us from his personal service company for that work, but I would rather pay him via…More

  • July Key Tax Dates

    Newsletter issue - July 2014 5 - Deadline for PAYE settlement agreement for 2013/14 6 - Deadline for 2013/14 forms P11Db, P11D and P9D to be submitted and copies of P11D and P9D to be issued to relevant employees Deadline for employers to report share incentives for 2013/14 - form 42 14 - Return and…More

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