SME Tax News

HMRC have created a further concession in the light of the PAYE crisis. No interest will be charged on outstanding balances of £2,000 or more.

Following the enactment of the second Finance Act in 2010 in July, August has been a bit quieter. These are our SME Tax highlights from the past month.

HMRC have problems ensuring that Pay-As-You--Earn (PAYE) is deducted correctly because its computers cannot mind-read. Real-time reporting of PAYE is being introduced from 2013. This will assist greatly in correcting PAYE codings. This is a special summary for advisers.

From 6 September 2010 new business set up outside London, the South East and East of England will be eligible for a holiday worth up to £5,000 for each of the first ten employees they hire in their first year of business (that is up to £50,000 in total).

An upset for HMRC: a new settlements case features a husband and wife, different share classes and dividends, but who was the settlor?

Over 1,000 “leaders” run 6,000 Weight Watchers (WW) meetings in the UK each week. The First Tier Tribunal has ruled that these individuals are employed.

 

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