In the last tax year 2012/13 it was possible to eliminate CGT on a gain if you reinvested at least the amount of the gain into a risk investment under the Seed Enterprise Investment Scheme (SEIS). This valuable CGT relief has been continued into the current tax year, but with a restriction in that only [...]
Print 
PDFCharities online gift aid service
April 16, 2013 by · Leave a Comment
HMRC have written to 110,000 charities and Community Amateur Sports Clubs (CASCs) informing them that from 22 April 2013 they can enrol to make repayment claims online through the HMRC website. The new service, called Charities Online, is being introduced in response to feedback from charities. They will be able to get information on how [...]
High tax rates on earnings above £100,000
April 16, 2013 by · Leave a Comment
There is a gradual withdrawal of the personal allowance if your taxable income exceeds £100,000. This is via a reduction of £1 of allowance for every £2 of excess taxable income. For 2013/14 Taxable income Marginal rate £100,000 to £118,880 60% £118,881 to £149,999 40% £150,000 + 45% For 2014/15 Taxable income Marginal rate £100,000 [...]
Budget 2013
March 21, 2013 by · Leave a Comment
Our notes on the 2013 Budget As widely publicised, the tax free personal allowance for most UK taxpayers will increase to £10,000 from 6 April 2014 (up 5.9% from £9440 in 2013/14). Also the VAT registration threshold increases to £79,000 from 1 April 2013 (was £77,000). Also starting from April 2014 employers will be exempt [...]
The Small Charitable Donations Bill
February 6, 2013 by · Leave a Comment
The Small Charitable Donations Bill received royal assent on 19 December 2012. This implements the Gift Aid Small Donations Scheme. From 6 April 2013 eligible charities and Community Amateur Sports Clubs will be able to claim Gift Aid style top-up payments on small cash donations without requiring the donor to provide a Gift Aid declaration. [...]
Seed Enterprise Investment Scheme (SEIS)
December 11, 2012 by ·
SEIS provides tax incentives to investors taking up new equity investment in trading companies that have been trading for two years or less. There are very detailed rules around SEIS and many ways in which HMRC can deny relief. If you think SEIS may be suitable for you or your company, please contact us to [...]
Annual Investment Allowances
December 11, 2012 by ·
AIA allows the company 100% tax relief in the first year that capital equipment has been purchased. The initial limit was £50,000 The limit was increased in April 2010 to £100,000 The limit was reduced in April 2012 to £25,000 The limit is now to be increased from 1 January 2013 to £250,000 If you [...]
Child Benefit Withdrawal January 2013
December 11, 2012 by ·
From 7 January 2013 child benefit for those with income of £50,000 or above will be reduced or withdrawn. For this purpose “income” is all taxable income, less any charity donations and less any gross pension. This figure cannot be reliably calculated until after the end of the tax year. For couples, the relevant income [...]
How to work out your payment reference when paying HMRC PAYE
November 19, 2012 by ·
When you send a payment to HMRC for your tax and national insurance on payroll, you should include a reference number which tells HMRC who the payment is from and to which month and year the payment relates to. The reference number consists of your account reference number which you will have received when registering [...]
Complementary Employment Law and Health and Safety Advice Line
November 13, 2012 by ·
All Green Accountancy clients are entitled to two free phone calls to: Complementary Employment Law and Health and Safety Advice Line Contact: Steve Killick Phone: 0161 827 9915 ext. 6891 Email: steve.killick@peninsula-uk.com Nick Babington Phone: 07896 036 993 Email: nick.babington@peninsula-uk.com Print PDF
