Monthly Archives: September 2011

FRSME – Changes to reporting

Posted on September 28, 2011 by Stuart

A new accounting standard will be introduced by the Accounting Standards Board from July 2013 to replace UK GAAP for companies that are not publicly accountable.   This change won’t affect “small companies” (less than £6.5 million turnover and £3.26 … Continue reading →

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Salary Sacrifice

Posted on September 21, 2011 by Stuart

Changes to the VAT treatment of salary sacrifice schemes have been announced by HMRC. The changes are effective from 1 January 2012 and in some cases will increase the overall cost of the scheme. Salary sacrifice schemes allow employees to … Continue reading →

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The new penalty regime

Posted on September 14, 2011 by Stuart

HM Revenue and Customs (HMRC) have issued a reminder on the new tax return penalties regime starting this Autumn. The changes will affect self assessment returns for 2010/11 onwards. The new penalties for late self assessment returns are: An initial … Continue reading →

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VAT Initiative update

Posted on September 8, 2011 by Stuart

A reminder about HMRC’s VAT Initiative campaign which is focussed on individuals and businesses that are trading above the VAT registration threshold of £73,000, but who have not registered to pay VAT. Those who have not yet registered but do … Continue reading →

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