With Summer blowing hot and cold, we thought we would bring you our newsletter for some informative reading during the long bright evenings ahead. This seasons issue covers the following:
New automatic in-year Pay As You Earn (PAYE) penalties for late filing and late
payment and in-year interest (charged on tax and National Insurance
Contributions (NICs) that are paid late during the year), were due to start from
6 April 2014. Two elements have now been delayed namely, the late filing
penalties and alterations in the operation of the late PAYE payment penalties.
The Annual Investment Allowance (AIA) provides a tax write off against profits for expenditure incurred on plant and machinery (not cars) for most businesses and owners of commercial property.
The other surprise announcement was in respect of ISAs. Successive governments, concerned at the relatively low level of savings in the UK economy have over the years introduced various means by which individuals can save through a tax-free environment.
Plus the many events we are hosting, please click the link below: