Before 1st October 2012 many smaller self storage operators were unable to reclaim input tax incurred on capital costs. They were unable to do this because their self storage fees were exempt from VAT and the relevant input tax exceeded the
HMRC have announced that elections to stop receiving Child Benefit (CB) must be made before Thursday 28 March 2013, if the individual wants to prevent a higher income child benefit charge being assessed on the person with the higher income.
As a result of the major change by HMRC to the PAYE system from April 2013, known as Real Time Information (RTI), the main tax and accounting bodies have issued updated guidance on letters of engagement for tax practitioners.
Following extensive consultations the LSB has finalised its recommendations to the Lord Chancellor regarding the proposed regulation of the will writing and estate administration market and continued regulation of probate work.
The organisation representing UK tax compliance specialists has warned that a proposed government cap on income tax reliefs will distort decisions on how businesses should be structured and lead to more decisions being taken for tax rather than
HMRC have announced the final filing results for returns submitted by the SA deadline on 31 January 2013. HMRC confirm that these are the best SA results ever. The previous highest ‘on time’ proportion was 92%, when the first ever SA returns were