Latest News

May 2012

Ruth Chapman

28 Mar 2012

Corporation tax rates

A further reduction in the main rate of corporation tax has been announced. The planned 1% decrease announced to take effect from 1 April 2012 is now to be a 2% decrease with the rate moving from 26% to 24%. Further 1% reductions to 23% and 22% are to take place from 1 April 2013 and 1 April 2014 respectively. The small company rate will remain at 20%.
Morgan Davies

27 Mar 2012

Updated guidance on gift aid and new declarations

HMRC have updated their guidance on Gift Aid declarations and provided new model declarations. They have also developed a new checklist of the minimum information to be included in a declaration if a charity decides to create and use its own declaration form. For more information on this please contact us today.
Ruth Chapman

26 Mar 2012

Reimbursing additional household expenses

From 6 April 2012 HMRC are increasing the guideline rate which employers can use to reimburse employees for additional household expenses incurred because they have to work from home to £4 per week (currently £3 a week). To find out more about the circumstances when these expenses can be reimbursed please contact one of our tax managers, Ian Frost on 0121 711 2468 or Sarah Grandison 02476 518 555.
Jamie Skelding

23 Mar 2012

Employer end of year forms

HMRC are reminding employers that in order to avoid penalties they must file the Employer Annual Return (P35 and P14s) online and on time. The vast majority of employers must file electronically and the deadline for submission of the forms is 19 May 2012 which this year falls on a Saturday.
Ruth Chapman

22 Mar 2012

Tax rates 2012/13

Many of these figures are fundamental to our business and personal lives and you will find the key taxes summarised here. We are sure that you will find it a useful point of reference throughout the coming tax year.

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