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01/03/2014

March Tax Tips & News

Welcome to the Davies Tracey 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!

Real Time Information (RTI) Penalties

HMRC has experienced significant problems in reconciling amounts of PAYE due from employers, to the amounts reported under real time information (RTI). As a result some of the automatic RTI penalties which were to apply from 6 April 2014, will now apply f Read More...

Business Journeys

A number of self-employed businesses have been waiting for a tax case to be decided which turned on the question of "what is a business journey?" The test case concerned a doctor who was both employed by the NHS and self-employed as a private consultant. Read More...

Let Property Campaign

The taxman has launched another "confess your tax sins" campaign aimed at individuals who have failed to declare rental income they have received from residential properties. This let property campaign (LPC) can't be used by companies that let property or Read More...

VAT on Books and Leaflets

There is no VAT on printed books, booklets, newspapers, and leaflets. Well there is, - its zero-rate VAT, so the customer pays no VAT, but the supplier can reclaim the VAT it pays on purchases. Read More...

March Question and Answer Section

Q. I've received a refund of the PPI premiums I paid on top of my mortgage. Do I need to declare this sum on my tax return? Read More...

March Key Tax Dates

19/22 - PAYE/NIC and CIS deductions due for month to 5/3/2014 Read More...

2014 Budget News

This was a Budget for bingo-playing baby-boomers who have not started to draw their private pensions. George Osborne announced some sweeping reforms to the taxation of pensions and halved bingo duty. Read More...

About Us

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Based in the Tees Valley, supporting clients in the northern region and beyond, our team delivers everything you would expect from first-class accountants. Our services aim to help our business clients to achieve greater profitability, and our individual clients to enjoy greater wealth.

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Davies Tracey is a trading name of Davies Tracey Limited