HM Revenue & Customs (HMRC) is to re-introduce PAYE penalties for late submissions of monthly payroll information from 6 October 2014.
The penalties will apply where a Full Payment Submissions (FPS) has not been filed on or before the date a business pays its employees.
The new rules that apply to claims for capital allowances on fixtures to buildings are now in place.
Whether you already have business premises or are in the process of purchasing new or second hand premises, let us help you to protect your entitlement to tax relief.
If you submit tax returns to HM Revenue & Customs (HMRC), a second payment on account in respect of your 2013/14 income tax liability may be due for payment on 31 July 2014. Just under four months away!
Payments on account are based on your tax liability from the previous year. You paid the equivalent of half last year’s tax liability on 31 January 2014 and the remaining half is due on 31 July 2014.
The Chartered Institute of Taxation
The Association of Taxation Technicians
