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. […]

Seed Enterprise Investment Scheme (SEIS)

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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

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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

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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 […]

Patent Box

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The Patent Box allows companies to elect to apply a 10 percent rate of corporation tax from 1 April 2013 to all profits attributable to qualifying patents, whether paid separately as royalties or embedded in the sales price of products. The regime will also apply to other qualifying intellectual property rights such as regulatory data […]

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