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01/05/2013

May Tax Tips & News

Welcome to the Benson Wood 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!

RTI Round Up

Real time information (RTI) has had a bumpy start. In brief these are the major problems and work-arounds discovered so far. Read More...

Sleeping Partners and NI

In the past sleeping partners and inactive partners didn't have to pay NI contributions on their partnership profits. Read More...

Do Not Rely on HMRC VAT Advice

>If you are uncertain about whether you can make a claim for VAT you have incurred, or how to treat a certain transaction for VAT purposes, you could try searching the HMRC website for a solution to your query. Read More...

Beware Pension Liberation

Have you been approached by firms that promise you instant cash from your pension fund? This is known as pension liberation, and involves taking cash from your pension fund before you reach the retirement age set by your pension scheme. Read More...

May Question and Answer Section

My company has been trading since 1 March 2013, but my first sales invoices haven't been paid yet, so there is no cash available to reimburse me for the expenses I've incurred personally. Do I have to complete a P11D for 2012/13? Read More...

May Key Tax Dates

2 - Last day for car change notifications in the quarter to 5 April - Use P46 Car