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| RTI penalties | Reasonable Excuse |
| Employers are supposed to be warned in advance that a penalty for a late PAYE report is due. The HMRC computer should send an electronic notice through the PAYE online system, but in some cases those electronic notices have not arrived. .. Read More... | If you have received a penalty for late filing of your personal tax return it is possible to get it cancelled if all of the following conditions are met.. Read More... |
| VAT on Pre-trading Expenses | July Questions and Answers |
| When you register your business for VAT you can reclaim the VAT charge on goods you acquired within the previous four years, and on services provided to your business within the last six months... Read More... | Q. I personally own a number of buy-to-let residential properties. My son will attend a new school from September and it would be convenient for the family to live in one of those let properties. Can the cost of repairs made to that property while we are .. Read More... |
| July Key Tax Dates | Summer Budget 8th July 2015 |
Newsletter issue - July 2015. 5 - Deadline for PAYE settlement agreement for 2014/15 6 - Deadline for 2014/15 forms P11Db, P11D and P9D to be submitted and copies of P11D and P9D to be issued to relevant employees Deadline for employers to report share incentives for 2014/15 - form 42 14 - Return and Payment of CT61 tax due for quarter to 30 June 2015 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/7/2015 or quarter 1 of 2015/16 for small employers Class 1A NIC due in respect of the tax year 2014/15 31 - Second self assessment payment on account due for 2014/15 Second 5% penalty surcharge on any 2013/14 outstanding tax due on 31 January 2015 still unpaid Deadline for Tax Credits to finalise claims for 2014/15 and renew claims for 2015/16 Half yearly Class 2 NIC payment due Penalty of 5% of tax due or £300, whichever is greater for 2013/14 personal tax returns still not filed | Summary - Chancellor George Osborne has delivered the first Budget by a wholly Conservative government in almost 20 years.Read More... |
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