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Free
advice and tips On this
page |
OR Advice on line
from a qualified accountant for only £20 On the linked page |
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This page
contains advice and tips about various business, financial and tax matters.
For some subjects, there are links to further detail. You should check our web terms and conditions and our disclaimer before using this page or linked
pages and remember especially that the
information given here is only of a general nature, and should not be relied
upon without seeking detailed professional advice in relation to the
particular circumstances of your case. Our disclaimer, referred to above,
specifically excludes any liability howsoever arising as a result of your
taken any action or refraining from
taking any action on any matter without first having sought our advice. See also our Stop Press web page, or you can ask a
qualified accountant advice on line or as
little as £20. See also our aide
memoire to legal deadlines for the years 2003 and
2004. Clients of the practice can obtain further information by entering the ‘Client ‘ Zone’ and searching the indexOther users can
search the public index to the website for
further general information on many subjects |
Alphabetical index
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To Free
advice and tips |
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A to J |
K to P |
Q to Z |
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Cars Fuelled by LPG 100%
tax allowances |
Legal deadlines –
important dates in 2003/4 |
Tax free income up
to £19,230 |
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Limited company- tax
free income up to £19,230 |
web sites :-Disclosure requirements |
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Disclosure requirements
for web sites |
LPG Fuelled Cars 100%
tax allowances |
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Date |
Details |
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23/10/02 |
The E-Commerce Directive 2000 is now fully in force in UK law, and governs what
traders must disclose on websites in order to comply with European law |
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The Finance Act now
enables 100% first year allowances to be claimed for the purchase of cars
fuelled by liquid petroleum gas, compared to the normal 25% per annum writing
down allowance. Unlike writing down allowances for normal cars which are
capped at £3000, there is no cap on LPG cars. Rover, Honda and
Volvo manufacture such cars, and grants to convert other makes are available. As LPG is half
the price of petrol, it now makes strong commercial sense for businesses to
convert to LPG |
Peter Brown & Co offer a detailed factsheet on this
subject . Use our ‘Questions on line’
facility to order a fact sheet on the terms and conditions applying to such
questions , except that the fee is £5.00.(Free to existing clients) Quote ‘Fact Sheet 12 at £5.00’ in response
to ‘What is your question’ on the form. You can ignore the quoted rate of £20
on the form |
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Very small businesses,
with profits up to just below £19,230
if run by a married couple or £14,615 if run by a single individual can now,
in certain circumstances, completely escape tax and national insurance on
their profits, saving up to approximately £3,000. The actual savings depend a
great deal on circumstances. This is achieved
by the vehicle of incorporating a business as a limited company, for which
there will be small additional accountancy costs. Savings can also
be made by businesses with a higher level of profits, but the savings reduce
as profits increase. |
Peter Brown & Co offer a detailed factsheet on this
subject . Use our ‘Questions on line’
facility to order a fact sheet on the terms and conditions applying to such
questions .The fee is £20.00.(Free to existing clients by entering the
‘Client Zone’) Quote ‘Fact Sheet 9 at £20.00’ in response
to ‘What is your question’ on the form. |
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The first section shows dates that recur
or are related to the particular accounting year end of a particular client.
The second section shows specific dates throughout the year that are of general
application .
Date |
Details |
Links |
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Quarterly throughout the year |
On 2nd
February, May, August and November, employers should notify car changes on
P46 car for the quarter ended on the 5th of the previous month. |
Use our online payroll service |
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Quarterly throughout the year |
On 31st
March, 30th June,30th September and 31st
December a CT61 should be prepared by Companies |
Use our tax services |
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19th of each month throughout
the year |
PAYE and NIC
must be paid to the Inland Revenue by employers for the period to the 5th
of the current month. (Only payable quarterly in January, April, July, and
October by small employers ) |
Use our online payroll service |
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9 months after the accounting year end |
Companies must
pay Corporation Tax in relation to the accounting period ended 9 months
previously to avoid penalties and interest |
Use our tax services |
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10 months after the accounting year end |
Companies must
file their accounts with the Registrar of Companies for the period ended 10
months previously to avoid fines. |
Use our accountancy services |
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12 months after the accounting year end |
Companies must
file their Corporation Tax return ( the CT600) for the accounting period
ended 12 months previously to avoid penalties and interest |
Use our tax services |
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Self assessment
tax returns for individuals and partnerships for the year ended 05/04/02 must be filed to avoid a penalty |
Use our online tax return service |
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Last date for
payment of balancing payment of income tax & CGT for the year to 5/4/02
to avoid interest |
Use our online tax return
service |
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Last date for
payment of first payment on account of income tax for the for the year to
5/4/03 to avoid interest |
Use our online tax return
service |
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Last date for
post cessation receipts elections for the year to 05/04/02 |
Use our online tax return
service |
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Last date for
trading losses election to be set off against gains for the year to |
Use our online tax return
service |
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Last date for
trading losses election to be set off against general income or carried back
for the year to |
Use our online tax return
service |
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Last date for
post cessation expenses election to be set off against gains for the year to |
Use our online tax return
service |
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Last date for
losses on shares in unquoted companies election to be set off against income
for the year to |
Use our online tax return
service |
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Last date for to
claim for retirement annuity premiums paid in 2001/2 to be relieved as paid
in 2000/01 or 1999/00 as appropriate |
Use our online tax return
service |
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Last date for to
pay personal pension premiums and elect to carry back to 2001/2002 |
Use our online tax return
service |
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Last date for to
claim 50% relief if deferred charge on gains before |
Use our online tax return
service |
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Last date for
replacement of business assets (roll over relief) for three years previously |
Use our online tax return
service |
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Last date for
disposal of asset and reinvestment in qualifying company (reinvestment
relief) |
Use our online tax return
service |
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Last date to
claim for disapplication of incorporation relief under TCGA 1992, s162 |
Use our online tax return
service |
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Last date to
claim for relief for farmers’ averaging of profits for 1999/00 and 2000/01 |
Use our online tax return
service |
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Last date to
claim for 1996/97 Capital Gains Tax losses brought forward- formal
notification required |
Use our online tax return
service |
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Last date for
payment of balancing payment of income tax for the year to 5/4/02 to avoid
penalties as well as interest |
Use our online tax return
service |
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Last date small
enterprises to purchase certain ICT equipment (computers etc) to qualify for
100% first year allowances |
Use our tax services |
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Last day for ISA
contributions for 2002/03 |
Seek financial advice |
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Last day for
realizing capital gains for the annual exemption for 2002/03 |
Use our tax services |
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Last day for
chargeable transfers to use annual exemptions/small gifts exemption for
Inheritance Tax |
Use our tax services |
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Last day for
disposals for Capital Gains Tax retirement relief |
Use our tax services |
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Last day for
payment of bonuses to directors under PAYE before imposition of 2% increase
in NIC |
Use our tax services |
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Last day for
election for transfer of married couple’s or blind person’s allowance or
transfer of children’s tax credit for next tax year |
Use our tax services |
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Last day for to
claim for negligible value of asset within the last two years |
Use our tax services |
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Employers must
file forms P14,P35,P38,P38A and CIS36 to avoid penalties |
Use our online payroll service |
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Employers must
issue form P60 to their employees to avoid penalties |
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Employers must file
forms P9D,P11D and P11Db and give copies to their employees |
Use our online payroll service |
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Employers must pay
Class 1a NICs on benefits to employees |
Use our online payroll service |
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Last date for payment
of second payment on account of income tax for the year to 5/4/03. |
Use our online tax return
service |
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Self assessment tax
returns for individuals and partnerships for the year ended 05/04/03 must be
filed if you wish the Inland Revenue to calculate the tax bill or if any
underpaid tax is to be collected via PAYE |
Use our online tax return service |
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Self assessment
tax returns for individuals and partnerships for the year ended 05/04/03 must
be filed to avoid a penalty |
Use our online tax return service |
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Last date for
payment of balancing payment of income tax & CGT for the year to 5/4/03 to
avoid interest |
Use our online tax return
service |
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Last date for payment
of first payment on account of income tax for the for the year to 5/4/04 to
avoid interest |
Use our online tax return
service |
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Last date for
post cessation receipts elections for the year to 05/04/03 |
Use our online tax return
service |
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31/01/04 |
Last date for trading
losses election to be set off against gains for the year to |
Use our online tax return
service |
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Last date for trading
losses election to be set off against general income or carried back for the
year to |
Use our online tax return
service |
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