To view a copy of our December 2012 newsletter please click .
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Signing up for Companies House eReminder service
Companies house have recently announced a new addition to their WebFiling service in the form of being able to sign up to eReminder’s with up to 4 e-mail addresses.
The eReminder service, once you’ve opted into it, enables the receipt of e-mail reminders confirming the date of filing of a company’s accounts and annual return. The accounts reminder is sent at least one month before the filing deadline and the annual return reminder are sent on or after the company’s made up date and before the due date. These replace the previous paper reminders.
To join eReminders simply:
- Log into WebFiling.
- Select 'Join eReminders' from the company overview screen.
- Enter your e-mail address.
- Add up to 3 more e-mail addresses (It is recommended that Edwin Smith clients include their Edwin Smith contact’s e-mail as one of the additional 3 email addresses).
- You will receive emails to that your company is in the eReminder service.
To join the eReminder service you must first be registered for WebFiling which you should be unless you file a paper annual return form, if you are not currently registered and follow link File information on a company
As an Edwin Smith client it would be helpful to receive these email reminders especially where we are not the registered office to avoid any forms being submitted late.
Please contact us if you require any assistance.
VAT – amended certificates of registration
As a result of HMRC conducting routine maintenance of their VAT systems those registered for VAT may receive an amended certificate of registration.
HMRC are checking for consistency on information held for addresses and they may need to make a minor change to the way they record your address.
If you do receive an unexpected certificate then you need to check the details are correct. Only inform HMRC if you find any errors and follow link on how to tell HMRC about a change in name or address
Please contact us if you require further assistance
2012 Autumn Statement
The Chancellor delivered the Autumn Statement on 5 December 2012 and the following announcements were made that affect tax rates and allowances etc.
Corporation Tax
- The main rate of corporation tax will be cut a further 1 % from April 2014 to 21%.
Business Tax (Companies and self employed)
- There will be a temporary but significant increase in the Annual Investment Allowance from £25,000 to £250,000 for two years to support new investment in plant machinery by small and medium sized businesses. It would appear the increase applies for two years from 1 January 2013.
Please contact us before taking any action as transitional rules will apply on the change from £25,000 to £250,000 in the period 1 January 2013 - to 31 March 2013 for corporation tax and to 5 April 2013 for income tax.
Income Tax
- A further increase of £235 in the personal allowance for individuals in April 2013 taking it to £9,440 for the 2013/14 tax year.
- The higher rate threshold will be increased by 1% rather than inflation in 2014-15 and 2015-16.
- From 2014-15 there will be reductions to tax relief available on pension contributions. The lifetime allowance for pension contributions will be reduced from £1.5 million to £1.25 million and the annual allowance from £50,000 to £40,000.
Capital Gains Tax
- The annual exempt amount for capital gains will be increased by 1% each year in 2014-15 and 2015-16.
Inheritance Tax
- Inheritance tax nil rate band will increase by 1% in 2015-16 from £325,000 to £329,000.
Other measures announced include the following:
- Cancelling the 3.02 pence per litre fuel duty increase planned for 1 January 2013, deferred to 1 September 2013.
- Working age tax benefits (excluding disability and carers benefits) will be up rated by 1 % for three years from April 2013.
- State pension will increase by 2.5%.
- New tax avoidance legislation will be introduced.
- A Business bank will be created to provide finance and support for smaller businesses.
For full details see 2012 Autumn Statement
Please contact us if you require further information and assistance.
Dates and deadlines : December 2012
1 December: Corporation tax payment for company not within the instalment regulations: year ending 29 February 2012
5 December: End of month 8 for PAYE
7 December: Online VAT return due to be filed and electronic payment of VAT due to be cleared into HMRC bank: quarter ended 31 October 2012
12 December: Direct debit VAT payment will be taken: quarter ended 31 October 2012
19 December: CIS monthly return deadline: month ended 5 December 2012
19 December: Cheque payments due for PAYE/NI, student loan and CIS: month ended 5 December 2012
22 December: Electronic PAYE/NI etc payments to be cleared into HMRC bank: month ended 5 December 2012
30 December: Deadline for submission of self assessment tax returns where tax owed is to be collected by tax code (where less than £3,000)
31 December: Company tax return CT600 due to HMRC: years ending 31 December 2011
31 December: Company accounts (Private Limited Co) due to be filed: years ending 31 March 2012
31 December: Company accounts (Public Companies) due to be filed: years ending 30 June 2012
1 January 2013: Corporation tax payment for company not within the instalment regulations: years ending 31 March 2012
