SME Tax News

The leading UK professional bodies involved in taxation have issued updated guidance on how tax advisers should act in difficult situations.

Measures previously announced in December 2010 for the 2011 Finance Bill include:

CIS: penalty refund offer: if you suffered excessive late filing penalties under the Construction Industry scheme (CIS) prior to October 2011 you may be eligible for a refund, subject to normal time limits.

Got an April year-end? Your filing deadline is 31 January. If you are thinking about online filing with Companies House read this first.

The Government has decided that it will go ahead with proposals to extend the availability threshold for furnished holiday letting (FHL) to 210 days and an occupancy threshold to 105 days but not until 2012.

Media accountancy firm Christopher Lunn & Company is subject to an ongoing tax investigation by HMRC. Up to 7,000 of its clients are affected.


Enjoying the Practical Tax content on 

Sign up now to receive a unique FREE Tax Planning Tips and Advice Guide & our FREE Newsletter.

.Squirrel ad