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| 01/04/2013 |
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| Loans to Participators Trap | SEIS Investment Extension |
| The 2013 Budget announcements included a brief outline of how the law will be changed to tax loans taken out of owner-managed companies by the shareholders/directors (known as participators). We have now seen the draft legislation so we can give you furth.. Read More... | The Budget also included an announcement of the extension of capital gains tax (CGT) relief, where the gain is reinvested in new shares issued under the Seed Enterprise Investment Scheme (SEIS)... Read More... |
| Cash Basis for Small Businesses |
| The cash basis was also mentioned in the 2013 Budget announcements, but now we have some more details. In an attempt to simplify accounting and tax reporting for the smallest businesses, from 6 April 2013 small businesses can choose to calculate profits/l.. Read More... |
| April Question and Answer Section | April Key Tax Dates |
Newsletter issue - April 2013. 5 - End of 2012/13 tax year. Last day to use up your annual exemptions for capital gains tax, inheritance tax and ISA's 14 - Return and payment of CT61 tax due for quarter to 31 March 2013 19/22 - PAYE/NIC and CIS deductions due for month to 5/4/2013 or quarter 4 of 2012/13 for small employers. Interest will run on any unpaid PAYE/NIC for the tax year 2012/13 30 - Additional daily penalties of £10 per day up to a maximum of £900 for failing to file self assessment tax return due on 31 January 2013 |
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