Category Archives: Tax Updates

Self-Assessment due January 31st

Individuals must submit their tax returns for the year ended 5th April 2012 by the end of the month (31st January 2013) in order to avoid a late-filing penalty of £100. Payment of any tax due must also reach HMRC by the same date in order to avoid penalties/interest....

AIA increase from 1 Jan

Businesses can now gain 100% relief on £250,000 of expenditure on plant and machinery in the year of purchase via the Annual Investment Allowance. The allowance has been temporarily increased from £25,000 for 2 years, commencing 1st January, 2013. The AIA can be claimed via your tax return, whether you are self-employed or operate a Limited Company....