The Shrewsbury Accountants Blog – Taxassist Accountants in Sundorne

May 23, 2011

News for owner-managed businesses from TaxAssist Accountants in Shrewsbury

Filed under: accounting, owner-managed businesses, shropshire, small business, tax, tax administration — Tags: accountancy, accountant oswestry, accountant shrewsbury, accountant shropshire, accountant whitchurch, accountants shrewsbury, accounting, business planning, income tax, limited company, record-keeping advice, shrewsbury, special offer, taxassist accountants — taxassistshrewsbury @ 3:41 pm

If you do not receive our news for owner-managed businesses by e-mail, I have copied it below. Enjoy …

						01743 366669 FREE INITIAL CONSULTATION

	Welcome to the May edition of News for Small Business where this month our focus is on the new tax return penalties to be enforced by HMRC as part of their toughened stance on tax evasion. ‘Notice to complete a tax return’ letters have landed on the desks of small business owners across the UK and in our article below we have explained the new penalties and the impact that they will have… Businesses flock to govt’s Red Tape Challenge site More than 6,000 respondents have aired their views on the government’s new red tape website… read more HMRC announces tax evasion crackdown The department has hired additional officers in a bid to recoup an extra £500 million in tax… read more Employer Annual Return reminder HMRC is urging taxpayers not to delay filing their P35 and P14 documents… read more Business confidence is ‘bouncing bank’, says FSB Business confidence is bouncing back but job creation “remains weak”, the FSB has claimed… read more Tax Return Penalties Introduced Small business owners across the UK will have received their notice to file a tax return this April and, whilst the filing process may have become second nature for some, HM Revenue & Custom’s (HMRC) new penalties should encourage taxpayers to tread carefully this year for fear of facing a potential penalty of £1,300. Previously, failing to adhere to the deadlines led to a £100 penalty. However, under the new rules not only will you receive an automatic £100 penalty, you will also be required to pay £10 per day (up to £900) if the return is more than 3 months late. Should your return be more than six months late you will receive an additional penalty…….read more		May 2011 ABOUT US TaxAssist Accountants are the largest network of accountants who focus their accountancy skills specifically on small businesses and taxpayers in the UK. OUR SERVICES We specialise in Accountancy Tax Returns Payroll Tax Advice VAT returns CIS Bookkeeping WHO WE HELP As a network we look after over 36,000 clients including. Sole Traders Partnerships Limited Companies Start up Business Over 200 TaxAssist Accountants are located across the UK offering local accountancy services to small business owners. NEWS For more news affecting small businesses, please click below: Tax News Tax Tips Questions & Answers CONTACT US 01743 366669 FREE INITIAL CONSULTATION Nigel Lomax TaxAssist Accountants 1 Sundorne Avenue Shrewsbury Shropshire SY1 4JW
	www.taxassist.co.uk/nigellomax/

DISCLAIMER: Advice shared in this newsletter is intended to inform rather than advise. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this newsletter, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.

	01743 366669 FREE INITIAL CONSULTATION	©2011 TaxAssist Accountants. All Rights Reserved.

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• We are a professional and approachable accountancy practice based in Shrewsbury. There is a team of 7 of us looking after 480 local owner-managed businesses. Please call 01743 366669 for further advice.

  Our address is:
  1 Sundorne Avenue,
  Shrewsbury,
  Shropshire. SY1 4JW

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• nigellomax on twitter

  • Just got your tax code? - Check it to make sure your deductions are correct or contact us for help #PAYE #taxcode ow.ly/2wXJlg 2 days ago
  • Calling all employers! - File your employer year end returns by 19th May to avoid late filing penalties ow.ly/2wW5JN 3 days ago
  • Payroll deadline - 19th May fast approaching for employers’ end-of-year forms ow.ly/2wLoaJ 1 week ago
  • A Guide for - Contractors Operating a Limited Company ow.ly/2wCu2P 2 weeks ago
  • INFOGRAPHIC - £10 per day fines for those not yet filed 2011/12 tax return #MayDay ow.ly/2wzfTf 2 weeks ago

• Latest news

  • Majority of start-ups cost less than £2,000 in funding, says survey May 20, 2013
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  • Up to 3.5 million people overpaid in tax in 2012-13 May 17, 2013
    A new report from HM Revenue & Customs (HMRC) has found that up to 3.5 million taxpayers unwittingly paid too much tax during the 2012-13 tax period.
  • Final call for 2012-13 P35 filing deadline May 16, 2013
    All employers that operated a payroll scheme in the 2012-13 tax year are required by law to file a P35 return online prior to the May 19th deadline, which is approaching this weekend.
  • 1.6m UK SMEs require funding to expand in 2013 May 15, 2013
    More than a third of the five-million plus small and medium-sized enterprises (SMEs) in the UK will require external funds in order to grow their business this year, according to a new report for the Department of Business, Innovation and Skills by IFF Research.
  • HMRC collaborating overseas to catch offshore tax evaders May 14, 2013
    HM Revenue & Customs (HMRC) has confirmed it is working with tax administrations in the United States (IRS) and Australia (ATO) in a bid to analyse data that could uncover "complex offshore structures to conceal assets by wealthy individuals and companies".
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