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This time we look at a couple of tax penalty cases where companies have failed to realise that they have a requirement to file returns under the Annual Tax on Enveloped Dwellings (ATED) regime. We also look at directors' entitlement to redundancy pay.
Penalties for the Annual Tax on Enveloped Dwellings (ATED) regime fall under Schedule 55 FA 2009 (failure to make returns) and Schedule 56 FA 2009 (failure to make payment on time), together with Schedule 24 FA 2007 (penalties for errors).
The chancellor announced at the weekend that there will be a summer budget on 8 July 2015, so there will be more changes in legislation to take in this year. Assuming that the 0% Savings Rate will remain intact following the next budget, this time we take a look at savings income and planning opportunities for company owners.
Chancellor George Osborne has announced that he will be holding a second Budget of 2015 on 8 July. He says that this will be a budget for "working people".