Business Blog

The end of October begins the three month countdown to the UK Self Assessment deadline. Our brief guide will get you set to file on time and avoid those fines.

Three years on from the start of auto enrolment, and with the news that employees are missing out of a total of £535 million worth of contributions, how can you take advantage of the benefits auto enrolment brings?

A change in the way loans are treated for inheritance tax (IHT) purposes could increase the taxable value of your estate on death, and the amount of IHT payable. This change will affect IHT calculated on deaths occurring after the Finance Act 2013 is passed, (expected mid-July 2013) but applies to loans which are already in place.

The tax treatment of businesses which involve the letting of property is not consistent across all taxes and tax reliefs. It's not logical, but just because the letting business qualifies for one tax relief it will not necessarily qualify for an apparently similar tax relief.

The Taxman is also causing RTI pains for employers and employees by issuing duff data. When you submit a FPS or NI number verification request (NVR), the Taxman should reply with any missing or corrected NI numbers. However, in some cases the NI numbers the Taxman has returned to employers have no suffix letter (A, B, C or D).

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