Tax & Accountancy Guides

Accountants remind employers to file P45, P46's online and on time
The ICAEW has reminded employers to submit their in-year PAYE forms to HMRC when an employee leaves or joins their company. The P45 and P46 starter and leaver forms must be filed correctly as failing to do so may result in penalties. [September 2, 2010] [In Tax News]

An overview of salary sacrifice arrangements
We look at how salary sacrifice arrangements work in practice, and how they may be of benefit to higher earners who face an income tax hike following the introduction of the additional tax rate band, and the gradual loss of personal allowance once a taxpayer hits £100k. [August 17, 2010] [In Personal Tax]

Annual Investment Allowance limit reduction from April 2012 - what should businesses do?
George Osborne's Emergency Budget gave notice that the Annual Investment Allowance (AIA) annual limit is to be significantly reduced from April 2012. What should businesses do to plan in advance? [August 12, 2010] [In Business Tax]

How are limited company dividends taxed?
If you are a limited company shareholder, you may have to pay personal tax on any dividend income you receive. This article outlines how company dividends are taxed. [August 2, 2010] [In Personal Tax]

Overcome the January 2011 VAT hike by planning in advance
Here are some tops tips on how small business owners can get the most out of the VAT rate change in January 2011, if they plan in advance. [July 28, 2010] [In Value Added Tax]

Office of Tax Simplification - accountants ask for consistency
The new Office of Tax Simplification was launched by the Coalition Government last week. A leading accountancy body has urged the OTS to 'think small first' and to try to make the tax system more consistent. A leading accountancy firm has also said that 'simplification' should not be used as an excuse to scrap tax breaks. [July 27, 2010] [In Tax News]

VAT rate change to 20% - how "artificial" transactions are treated
VAT expert, and Bytestart contributor, Les Howard, outlines the anti-forestalling legislation which will apply when the standard rate of VAT rises from 17.5% to 20% in January 2011. [July 22, 2010] [In Value Added Tax]

Tax on "white van man" up by 400% in just two years
Drivers of company vans are paying four times as much tax as they were two years ago, according to statistics revealed by a leading accountancy firm. [July 16, 2010] [In Tax News]

What is entrepreneurs' relief?
If you sell all or part of your business, you may be able to claim relief on the capital gains tax liable on the proceeds, providing an effective 10% CGT rate on qualifying amounts up to a lifetime 'allowance' of £5m. [July 15, 2010] [In Personal Tax]

Accountant provides clarification on how dividends are taxed
A small business accountant provides some clarification on the amount of tax payable by shareholders when dividends are paid, particularly, by private companies. [July 14, 2010] [In Business Tax]

Capital Gains Tax changes following the Emergency Budget
Following the recent 'Emergency Budget', a leading small business accountancy firm have provided a helpful summary of the Capital Gains Tax changes which were announced. [July 12, 2010] [In Personal Tax]

Employers reminded over 6th July P11D expenses deadline
A leading accountant has reminded business owners that they have until 6 July to report the value of expenses and benefits provided to employees over the last tax year. [July 2, 2010] [In Tax News]

Emergency Budget - what are the key personal tax changes?
An overview of the main personal tax changes announced in the Emergency Budget, including changes to income tax, taxable bands, NICs, and pensions. [June 24, 2010] [In Budget 2010]

Emergency Budget - what are the key business tax changes?
The key business tax changes announced in this week's Budget, including changes to Corporation Tax, NICs, VAT, Capital Allowances, and other business measures. [June 24, 2010] [In Budget 2010]

Business world welcomes "no pain, no gain" Budget
Business groups have generally welcomed the measures contained in the Emergency Budget. Although most people in the UK will be affected by the spending cuts and tax increases, small businesses seem to have been spared the pain which some experts have predicted. [June 23, 2010] [In Budget 2010]

Emergency Budget - Key Points
The key points from today's Emergency Budget - VAT will rise to 20%, CGT for higher earners will rise to 28%, and corporation tax will decrease from 2011... [June 22, 2010] [In Budget 2010]

Small businesses stand by for Emergency Budget measures
The chancellor is set to deliver his "Emergency" Budget from 12.30 today. As ever, we will report updates here on Bytestart as soon as the announcements are made. [June 22, 2010] [In Budget 2010]

Claims for larger deferral payments of VAT being turned down by HMRC
The UK's leading independent financial provider says that HMRC is refusing requests for deferrals of larger VAT payments to its “Time to pay” scheme. [June 17, 2010] [In Tax News]

Thousands of claims could follow Man United VAT ruling
Manchester United's landmark VAT case could open the floodgates for thousands of claims from businesses across the UK, according to tax experts. [June 17, 2010] [In Value Added Tax]

Leading accountants give their emergency budget predictions
Leading accountants and tax advisers, PricewaterhouseCoopers LLP, have released their comprehensive predictions for the emergency budget on June 22nd. [June 14, 2010] [In Budget 2010]

Flat Rate VAT Scheme - first year bonus for newly registered businesses
As an incentive to new VAT registered businesses to consider using the Flat Rate Scheme, HMRC allow a 1% reduction in the flat rate percentage for your type of business for one year. This can be a significant benefit for newly registered traders. [June 11, 2010] [In Value Added Tax]

Could time soon be up for the "Time to Pay" scheme?
The Time to Pay scheme has already allowed businesses to defer over £5 billion of tax payments. However, 30% of senior decision makers in SME businesses now expect that following the recent change in government, HMRC is most likely to stop the initiative altogether, removing a major business lifeline. [June 4, 2010] [In Tax News]

HMRC tax investigations into small businesses yield little compared to larger firms
A leading accountancy group points out that tax investigations into large companies are 18 times more productive than those into small businesses. [June 3, 2010] [In Tax News]

Emergency Budget - what can small businesses expect on June 22nd?
The 'Emergency Budget' is the most anticipated in a generation. With the public finances in a dire state, what can small business owners expect from the Chancellor on June 22nd? [June 2, 2010] [In Budget 2010]

Emergency Budget date announced by Chancellor
George Osborne has announced that the coalition's Emergency Budget will be on Tuesday June 22nd, 2010. [May 17, 2010] [In Budget 2010]

What tax changes can small businesses expect from the coalition Government?
With compromise the keyword in the new coalition administration, what tax changes can small business owners expect to be implemented by George Osborne in his much anticipated 'emergency budget'? [May 13, 2010] [In Tax News]

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