Research and Development (R&D) relief

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...

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New Tax-Free Childcare scheme

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...

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Shared Parental Leave and Pay

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...

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HMRC issue guidance on Bitcoin

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

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PAYE Penalties

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...

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Employee travel disruption

From time to time and particularly with the current weather conditions, travel disruption can affect an employee’s ability to get to work on time, or in some cases at all. For situations ranging from public transport cancellations... Read Full Article...

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Electronic messages to employers

HMRC have issued an electronic warning message to employers who have not submitted their Full Payment Submission (FPS) return(s) during the January tax month. The message is intended to be a reminder to employers and is not... Read Full Article...

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PAYE end of year approaching

HMRC are reminding employers that with the end of the 2013/14 tax year approaching they will soon need to make their final 2013/14 PAYE (RTI) submission. For most employers, the final submission will be their final Full... Read Full Article...

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HMRC warning about phishing scams

HMRC are warning taxpayers to be wary of the latest in a long line of email phishing scams that claim to offer tax rebates in return for bank account details. HMRC have received over 23,000 reports of... Read Full Article...

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No penalties for some late Self Assessment returns

HMRC have announced that more than 10 million tax returns were filed on time meeting the 31 January deadline. Approximately 8.5 million returns were filed online with the rest being paper filed. Perhaps not surprisingly the busiest... Read Full Article...

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