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Budget March 2017
Not sure quite what happened in the Budget? Worried about how the changes could affect you? Here are two documents for you to read and download if you wish which contain all the facts and lots of figures. One document is a summary of the Budget statements and intentions, and the other shows all the…
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National Minimum Wage: New Rates From April 2017
Did you know the National Minimum Wage is changing again? At Vincent & Co we aim to keep you up-to-date with all the latest news from HMRC, so here are the details of the new National Minimum Wage: Effective from April 2017 the National Minimum Wage rates will be increasing again. Please be aware that…
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Do You Need to Submit a Tax Return?
Many people are not sure if they need to send a tax return to HMRC. This article gives you advice direct from them but if you are still unsure then please contact Vincent & Co. for a confidential meeting to discuss your personal situation. You’ll need to send a tax return if, in the…
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VAT Returns – Remember to Keep Records
It’s a basic check that needs to be done every year – reconciling the sales reported on your VAT returns to those in your annual accounts. HMRC will do this, so if there are differences, the tax inspector is likely to ask questions. There are several reasons why the sales reported in your accounts may…
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Surprise! Surprise! HMRC Calling
According to recent reports HMRC has increased the number of small business investigations and they continue to be seen as soft targets. About 7% of tax inspections are random, the majority are triggered because HMRC believes that something is wrong. What can you do to reduce your chances of being selected? File your tax returns…
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Limited Companies: Annual Return to be a ‘Confirmation Statement’
On 30th June the document we know fondly as the Annual Return is to be replaced by a new ‘Confirmation Statement’.
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Cash Sales Business? Check your Cash Register Records Carefully
As the owner or manager of a cash sales business, how often do you check the records on your cash register?
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News: Online Petition Against Filing Tax Returns Four Times a Year
The Daily Telegraph reveals that more than 100,000 small business owners and self-employed workers have joined forces to fight a Government proposal that would force them to file tax returns four times a year instead of annually.
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HMRC and Late Filing Penalties – No New News!
Have you seen the recent news coverage about HMRC cancelling their usually strict £100 penalty if you are late with your tax returns? We need to tell you that this is not new news!
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Tax Credits Changes and the Risk of Overpayment
Tax credits are state benefits that provide extra money to people responsible for children, disabled workers and other workers on lower incomes. There are two types of tax credits – child tax credits and working tax credits.
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Taxation – The Intentions of the Main Political Parties
Following our promise to keep you as up-to-date as possible with all things financial, we have obtained an at-a-glance guide to the intentions of the main political parties regarding taxation.
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New Marriage Allowance Tax Break
From 6th April this year the new Marriage Allowance is a tax break available for more than 4 million married couples and 15,000 civil partnerships.