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01/01/2011 |
January Tax Tips & News
Welcome to the Capitax Financial Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.
If you need further assistance just let us know or send us a question for our Question and Answer Section.
We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.
Please contact us for advice on your own specific circumstances. We’re here to help!
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| Associated Company Changes |
| Companies controlled by the same people plus their relatives are counted as 'associated' for corporation tax purposes. The upper profits limit for the small profits rate of corporation tax is divided by the number of associated companies. A company with n Read More... |
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| Furnished Holiday Lettings Changes |
| Furnished holiday lettings have some specific tax advantages. On 9 December 2010 the Government released draft tax legislation that is expected to become law from April 2011. This draft law includes three major changes to the taxation of furnished holiday Read More... |
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| Take Care with VAT |
| The VATman expects all businesses to take reasonable care when completing their quarterly VAT returns. If you make a mistake, which results in the VAT being underpaid, the VATman is likely to charge you a penalty. Penalties can also be applied where a mis Read More... |
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| Tax Numbers for 2011/12 |
| Most of the tax rates and thresholds for 2011/12 were announced on 2 December 2010 as follows:
Personal Allowances
Under 65: £7,475
65-74: £9,940
75 and over: £10,090
Minimum marriage allowance*: £2,800
Maximum marriage allowance: £7,295
Bli Read More... |
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| January Question and Answer Section |
| Q. My employees earn an average of £490 per week, how much more NI will I have to pay for each employee from April 2011?
A. For an employee on average earnings of £490 per week you currently pay employer's NIC of £48.64 per week in 2010/11, but from Read More... |
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| About Us |
Capitax Financial is an independent and forward-thinking firm of Chartered Accountants, Tax Consultants and Business Advisors based in North West London (Stanmore, Harrow). We provide a full range of accounting, tax and business services to a wide range of UK and International clients, whether they are private individuals, entrepreneurs, investors, families, partnerships or corporate clients. Visit our website capitaxfinancial.com for more information.
Best wishes,
Samir Shah BFP FCA (samir@capitaxfinancial.com)
Director
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Capitax Financial Ltd
Devonshire House
582 Honeypot Lane
Stanmore
Middlesex
HA7 1JS
Capitax Financial is a trading name of Capitax Financial Ltd
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