Doubling of the Annual Investment Allowance
Posted on Friday, May 16th, 2014
The Annual Investment Allowance (AIA) provides a 100% deduction for the cost of most plant and machinery (not cars) purchased by a business up to an annual limit and is available to most businesses. Where businesses spend... Read Full Article...
Research and Development (R&D) relief
Posted on Friday, May 16th, 2014
R&D relief gives additional tax relief to companies for expenditure incurred on R&D projects that seek to achieve an advance in science or technology. For an SME company which incurs losses when conducting R&D activity, a tax... Read Full Article...
New Tax-Free Childcare scheme
Posted on Friday, May 16th, 2014
The Government has announced details of the new Tax-Free Childcare scheme which is to be launched this autumn. The relief will be 20% of the costs of childcare up to a total of childcare costs of £10,000... Read Full Article...
Shared Parental Leave and Pay
Posted on Friday, May 16th, 2014
The Government has issued the draft regulations for Shared Parental Leave and Pay which are expected to become law from 1 October 2014 and will apply to babies due from April 2015. The draft regulations set out... Read Full Article...
HMRC issue guidance on Bitcoin
Posted on Friday, May 16th, 2014
HMRC have issued guidance on the tax treatment of income received from, and charges made in connection with, activities involving Bitcoin and other similar cryptocurrencies. Internet link: VAT brief
PAYE Penalties
Posted on Friday, May 16th, 2014
HMRC are to introduce further interest and penalties for the late submission of PAYE RTI returns and for late payment of PAYE liabilities. The penalties will be introduced as follows: April 2014 – in-year interest on any... Read Full Article...