the UK's foremost co-operative business magazine

TAX ON PAYMENTS OF TRAIL COMMISSION
We are referring here to commission which may be passed on to investors in Collective Investment Schemes and other associated investment products including life insurance policies. This normally happens where an investor picks funds (known as platforms) via a website …

HMRC RELAXES RTI REPORTING ARRANGEMENTS FOR SMALLER BUSINESSES
Businesses with fewer than 50 employees can benefit from a temporary relaxation of the Real Time Information (RTI) reporting arrangements. Until 5 October 2013, employers with fewer than 50 employees who pay their staff weekly or more regularly …

HMRC UPDATED LIST OF TAX DEDUCTIBLE FEES AND SUBSCRIPTIONS PAID TO PROFESSIONAL BODIES OR LEARNED SOCIETIES
This updated list is always worth looking at in case any claims have been missed. Let us know the details of your payments and we will check that full tax …

TRAVEL COSTS FOR MEDICS MAY NOT STAND UP TO EXAMINATION
We always try to be positive in telling you about tax developments in this newsletter but of course we also need to include tax “nasties” as well. This edition seems to have a few of those, …

We mentioned last time the massive leap to £250,000 as the new and temporary annual amount you can spend in your business on machinery, furniture and the like, and get full tax write-off in the year.
Most businesses do not spend anything like that amount in …

ODD HAPPENINGS WITH THE PERSONAL ALLOWANCE
2012/13 – £8,105
2013/14 – £9,440 (not £9,205 as originally planned)
To make sure that 40% taxpayers do not fully benefit from the charge to the Promised Land of a £10,000 personal allowance, the level of taxable income at which that rate …