Latest news

1
Mar

Increased penalties for offshore tax evasion

News: March 2011 Increased penalties for offshore tax evasion We knew that the sanctions available to HMRC for tackling offshore non-compliance were to be increased, and we now know when and how this will happen. Basically, the normal maximum penalty of 100% of the tax (in practice, discounted to reflect a whole set of circumstances which we argue as part

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1
Mar

Capital Taxes

News: March 2011 Capital Taxes Capital Gains Tax Rates and Thresholds The rates and thresholds for capital gains tax are as follows for 2011/12: Annual exemption – £10,600 Annual exemption for most trustees – £5,300 Rate for gains in basic rate band – 18% Rate for gains above basic rate band – 28% Rate for gains subject to entrepreneurs’ relief

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1
Mar

Employee induction programmes

News: March 2011 Employee induction programmes We’ve all been there before – first day in a new job. You’re not sure what to expect. Everything is unfamiliar and you are apprehensive about proving yourself to your new colleagues. To engage new recruits, employers need to think about each part of the process from application, interview and job offer to the

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1
Mar

Penalties for late filing of your income tax returns

News: March 2011 Penalties for late filing of your income tax returns New late filing and late payment penalties will apply from 6 April 2011 (in relation to tax years ending after 5 April 2010) for personal, trust and partnership returns. The existing rule that the late filing penalty is the lower of £100 and the balance due will be

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1
Mar

Savings and Investments

News: March 2011 Savings And Investments Enterprise Investment Scheme It is proposed that income tax relief for investors be enhanced as follows: Rate of income tax relief: 2010/11 – 20%, 2011/12 – 30%, 2012/13 – 30% Annual maximum investment qualifying for income tax relief: 2010/11 – £500,000, 2011/12 – £500,000, 2012/13 – £1,000,000 These changes will be subject to State

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1
Mar

Mobile marketing – the next big thing?

News: March 2011 Mobile marketing – the next big thing? Mobile Media Marketing consists of utilising mobile phones to deliver your firm’s advertising and promotional message to existing and potential clients. With 3G and mobile internet technologies now commonplace. examples of mobile marketing range from all types of advertising and promotions to apps and games which promote a product or

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1
Mar

PAYE forms for employers

News: March 2011 PAYE forms for employers HMRC will now no longer routinely issue paper Employer or Budget Packs, or indeed any employer information by post. These will be replaced by online guidance and downloadable applications, as part of the cost reduction exercise. Where we deal with all your payroll work, there will of course be nothing to be concerned

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1
Mar

For Individuals

News: March 2011 For Individuals Personal Allowances These allowances represent the amount of an individual’s income in the tax year that is not subject to income tax. Some people are eligible for several allowances such as the personal allowance, and married couples allowance. The married couples allowance is available to married persons and civil partners, but only where at least

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1
Mar

Soon you may be able to pay for a business lunch with your iPhone

News: March 2011 Soon you may be able to pay for a business lunch with your iPhone According to the latest tech-blurb, Apple may implement “near field communication” technology (NFC) in the next iPad and iPhone, allowing users to make purchases directly from these devices. Futurists and techies alike have long heralded the dawn of the cashless society and now

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