When using the Cash Accounting Scheme you only pay VAT on your sales when your customers pay you and reclaim VAT on your purchases only once you have paid your suppliers.
The Cash Accounting Scheme is available to VAT registered traders if your estimated VAT taxable turnover during the next tax year is not more than £1.35
HMRC have requested that with effect from 14 February 2014 any publication containing guidance on the Seafarers' Earnings Deduction stating that voyages between UK ports were subject to the same concession as if the journey were allied to passage to an overseas port must not be used in the preparation of a claim to Seafarer's
From April 2014 employers will be able to reward staff with tax-free loans of up to £10,000 for items such as travel season tickets.
For more information on tax efficient employee benefits please do not hesitate to contact Hooper & Co for a no obligation discussion on your particular
We are all aware of phishing emails purporting to be from your bank or advising you of a refund from HM Revenue & Customs, but the latest comes in the form of a 'complaint' raised against your company.
The text of the email is as follows:
This message has been generated in response to the company
Personal Taxes and Tax Credits
Personal Allowance, Rates of Tax, National Insurance Contributions for 2014 to 15
As announced at Budget 2013, people born after 5 April 1948 will be entitled to a basic personal allowance of £10,000 for 2014 to 15. The ‘higher rate threshold’ (the sum of the basic personal allowance and the
Not all UK limited companies require their accounts to be audited. The following brief guide explains
Recent studies have shown that younger business owners, particular those with small to medium size businesses, would increasing prefer the see their tax and accountancy services provided online via cloud based systems.
Hooper & Co are pleased to confirm that we already operate a cloud based system for a number of overseas clients and would be delighted to engage with new
As with all budgets the devil is in the details.
The following information from HMRC summarises tax changes to be legislated in Finance Bill 2013 or other legislation having effect in 2013-14 and includes confirmation of previously announced policy changes and explains where changes, if any, have been made following consultation on the draft legislation. It also
HM Revenue & Customs (HMRC) have recognised that some small employers who pay employees weekly, or more frequently, but only process their payroll monthly may need longer to adapt to reporting PAYE information in real time.
Until 5 October 2013, employers with fewer than 50 employees, who find it difficult to report every payment to
If you want to calculate how much your company car car will cost you from April 2013, HMRC's updated calculator can be found at http://www.hmrc.gov.uk/calcs/cars.htm
It should be remembered that unless you are a high mileage driver or you drive a small fuel efficient car you may be better off owning your own vehicle and recharging your mileage