SEIS update – CGT reinvestment relief

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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 […]

Charities online gift aid service

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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

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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 […]

Sustainable Routes Grants – up to £1,000 matched funding

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You may be interested in applying for a grant from http://www.sustainableroutes.co.uk/.  It is an easy process and they are offering match funded grants of up to £1,000.  You must apply and get acceptance before spending the money, and the expenditure must be designed to reduce travel, thereby reducing the carbon pollution associated with travel.

Green and Environmental Projects Grants

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Green Giving is looking for to fund environmentally friendly projects. They are offering grants of up to £1,000 for small projects and organisations. They want you to overwhelm them with your applications, so get inspired and let them know about your green project idea! You must be a non-profit organisation to qualify. Contact Email: greengrants@greeninsurancecompany.co.uk […]

Budget 2013

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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 […]

CIS gross payments case

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A recent tax case (J P Whitter (Waterwell Engineers) Ltd TC2316) found in favour of the tax payer. HMRC had cancelled the company’s CIS gross payments status due to compliance failures including late payments.  The First-tier Tribunal found that HMRC had discretion to not cancel the gross payment status even where there was no reasonable […]

The Small Charitable Donations Bill

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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. […]

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