Tax Tips and News

• VAT Moss new guidance

  Newsletter issue - January 2015 On 1 January 2015 the VAT law changed for electronic services that are supplied digitally to non-business customers. Those customers must now pay VAT on the e-service at the rate that applies in the country where they receive the service. It's up to the supplier to work out the VAT…Read More

• Incorporation of a business

  Newsletter issue - January 2015 When a business incorporates and transfers its trade and assets to a company controlled by the seller, the assets must be transferred at open market value for tax purposes. The assets may include "goodwill" which is defined as the business reputation or customer relationships, including the value of continuing contracts.…Read More

• Shared parental leave and pay

  Newsletter issue - January 2015 Where a child is due to be born (or adopted) on or after 5 April 2015, its parents will be entitled to share the 52 weeks of maternity leave and 39 weeks of maternity pay or maternity allowance which is currently available only to the mother. This ability to share…Read More

• Solicitors disclosure

  Newsletter issue - January 2015 As a qualified solicitor you need to be very careful not to make mistakes on your tax returns, as a tax investigation could do serious harm to your professional reputation. Taxpayers who make deliberate errors that lead to tax underpayments of £25,000 or more, may have the details of their…Read More

• January Questions and Answers

  Newsletter issue - January 2015 Q. My company has some surplus cash which I would like to use to support a local charity. Can the company make the donation directly or do I have to make a personal donation so it qualifies for Gift Aid, and the charity can claim the tax back? A. Companies…Read More

• January Key Tax Dates

  Newsletter issue - January 2015 1 - Due date for payment of Corporation Tax for the year ended 31 March 2014 14 - Return and payment of CT61 tax due for quarter to 31 December 2014 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/1/2015 or quarter 3 of 2014/15 for…Read More

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