Self Assessment penalties

In the past as long as you paid your tax liabilities on time and cleared any self-assessment tax due by 31 January, no late filing penalties were due. Even if you failed to pay your tax on time, late filing penalties were capped at £100 or nil if you were due a tax...

New fuel rates

HMRC have published revised Company Car advisory fuel rates to use from 1 September 2011. These rates can be used to calculate private fuel costs reimbursed by employees on a mileage basis, or to calculate the amount of VAT input tax that employers can recover on...

Charities and VAT

Charities only need to account for VAT on those parts of its activities that are within the scope of VAT. A quick checklist follows: * Sale of donated goods from a charity shop – zero rated supply * Investment income, bank interest etc – outside the scope of VAT *...

Employers costs to increase by 3%

The Pensions Regulator has published information about proposed workplace pension changes that are due to be phased in from next year. Workers who will need to enrol in the new workplace pension arrangements unless they expressly choose to opt out are: * Employees who...