HM Revenue and Customs (HMRC) gave an important insight into their customer service expectations recently. As anyone who’s had to call HMRC will know, they don’t answer the phone very quickly. A recent review of their Facebook page showed that, rather than being that helpful, it is actually a place for individuals to vent their anger at …
A change to vat on digital sales within the EU came into effect from the beginning of 2015. Previously, any VAT on digital sales was accounted for in the country of the seller. However, from 1 January 2015, the place of supply will change to the country where the consumer is established. What this potentially means …
The Chancellor delivered his 2015 Budget on Wednesday 18 March 2015. We have reviewed the announcements and highlighted the following which will have a direct impact on small business. Income Tax The personal allowance threshold is due to increase to £10,600 from 6 April 2015 and then to £10,800 from April 2016 and to £11,000 …
With the start of the 2015/16 tax year almost here, there are a couple of changes we wanted to make you aware of. Collection of Tax Debts If your tax return is filed early enough, it is possible to collect any tax debts through your tax code (provided you are subject to PAYE) – known …
The Marriage Allowance was announced in the 2013 Autumn Statement and is an allowance transferrable between married couples and civil partners. It is available from 6 April 2015 and the amount which can be transferred is 10% of the personal allowance, which is 10% x £10,600 (for 2015/16) = £1,060. The tax saving is likely to …
HM Revenue and Customs (HMRC) recently released figures in respect of the 2014 tax returns, highlighting such statistics as: 11.13 million tax returns issued 4.28 million filed in January alone 890,000 tax returns not filed before the deadline The final figure is quite eye catching. Each will be issued with a late filing penalty of …