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OLD MILL ACCOUNTANCY OCTOBER NEWSLETTER

October 24, 2011

Old Mill Tax Update- October 2011

Our newsletter this month contains the following articles:

A reminder to file your tax return on time

The University challenge

Future changes to workplace pensions

VAT issues for charities

Changes to company car fuel rates

File on time or else…

In the past as long as you paid your tax liabilities on time and cleared any self-assessment tax due by 31 January, no late filing penalties were due. Even if you failed to pay your tax on time, late filing penalties were capped at £100 or nil if you were due a tax refund.

The goal posts have moved!…Read more

University Challenge

 

Students are coming away from University with a significant amount of debt and this is likely to increase given that many are likely to have debts of approaching £40,000 after a typical three year course from 2012…Read more

Employers face a possible 3% hike in employment costs!

 

The Pensions Regulator has published information about proposed workplace pension changes that are due to be phased in from next year…Read more

VAT issues for charities

 

Charities only need to account for VAT on those parts of their activities that are within the scope of VAT. A quick checklist follows:..Read more

New car fuel rates

 

HMRC have published revised Company Car advisory fuel rates to use from 1 September 2011…Read more

Tax Diary October/November 2011

 

Keeping you updated…Read more

Contact us

 

If you have any questions about any of the articles please don’t hesitate to call one of our Tax Team or visit www.oldmillgroup.co.uk/tax for more details.

 

Dorchester – 01305 268168

 

Exeter – 01392 214635

 

Melksham – 01225 701210

 

Shepton Mallet – 01749 343366

 

Yeovil – 01935 426181

 

 

 

 

 

 

 

 

 

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