With changes in the tax system now an ever-present feature, our up-to-date experience is available to ensure clients” tax liabilities are planned to be at a minimum.
The main changes for 2013/14 are:
- Personal allowance increase to £9,440
- ISA subscription limit increases to £11,520
- Car benefit multiplier increases to £21,100
- Basic state pension increases by £2.70 to £110.15 per week
This is a summary of the key filing and payment dates.
Tax rates and allowances.
Details of corporation tax rates and bands.
Inheritance tax rates and allowances.
Capital gains tax rates and allowances.
VAT rates, schemes and thresholds
National insurance contributions and rates
Residential property letting tax rates and allowances.
Reduce your business tax liability with your capital expenditure.
In order to attract a deduction in computing the profits of a trade or business any expenses must be incurred wholly and exclusively for the purpose of the trade. Capital expenditure is not an allowable expense (capital allowances are claimed on these costs), and certain other expenses are barred by statute.
The tax system has many fines and penalties for those that do not file or pay on time. Make sure you do not become liable to any of these fines or penalties.
Trusts and settlements – tax rates and allowances.
The basics of the non domicile charge.
Qualification to be a small or medium sized company applies if two or more of the following criteria are met in the current and preceding year.
There are a number of schemes intended to encourage employers to make arrangements for their staff to travel to work by more environmentally beneficial means.
Current and previous mileage allowances.
This remains on our website in order to assist with completion of 2012/13 P11Ds.
Check your benefit for this tax year.
Vehicle benefits. Check your benefit for the last tax year.
There are limits that may be contributed to a registered pension scheme without incurring a tax charge. The maximum amount on which an individual can claim tax relief in any tax year is the greater of the individual’s UK relevant earnings or £3,600.
Enterprise investment schemes and venture capital trusts.
Details of this year’s investment maximums for ISAs.
Details of the rates and types of stamp taxes.
Air passenger duty rates.
Landfill tax rates
Tax credits rates for this year and the last tax year.
State pension rates and allowances.
Selected benefit rates.