What is HICBC?

Sep 03, 2014

The High Income Child Benefit Charge (HICBC) affects parents where one partner (or both) have income in excess of £50,000 and either:

  • you or your partner get Child Benefit or,
  • someone…

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New support for home based businesses

Sep 01, 2014

It is estimated that seven out of ten small businesses are managed in the first instance from home. Home based entrepreneurs contribute £300 billion to the UK economy. It is not surprising, therefore,…

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On your bike

Sep 01, 2014

The cycle to work scheme encourages employees to cycle to work and allows employers to reap the benefits of a healthier workforce.

Employers of all sizes can set up a tax exempt scheme. Basically,…

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Smash and grab

Sep 01, 2014

The government is considering the response to its consultation document on proposals to introduce powers allowing HMRC to dip into a tax payer’s bank account in order to recover arrears of tax. There…

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Treat you as honest

Sep 01, 2014

Readers will be interested, and gratified to hear that HMRC will always treat you as honest. The following is an extract from HMRC’s “Your Charter” which states:

 Your rights - What…

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Tax Diary September/October 2014

Sep 01, 2014

 1 September 2014 - Due date for Corporation Tax due for the year ended 30 November 2013.

 19 September 2014 - PAYE and NIC deductions due for month ended 5 September 2014. (If you pay your…

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HMRC business record checks

Aug 29, 2014

According to insurers PFP, HMRC business record checks are on the increase.

 In the tax year 2013/14 HMRC checked 5,515 sets of business records compared to just 3,431 checks in 2011/12,…

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Employment Allowance uptake

Aug 28, 2014

Data released by HM Treasury at the end of July reveals that 725,000 employers across the UK are benefitting from the Employment Allowance.

The allowance reduces the amount of employer National…

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50% off qualifying capital purchases

Aug 21, 2014

The Finance Act 2014 introduced a temporary increase in the Annual Investment Allowance (AIA). From 1 April 2014 (for companies) and 6 April 2014 for the self-employed, the ability to write off qualifying…

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