Monday, 27 February 2012

HMRC changes stance on smartphones !

 BlackBerrys, iPhones and other smartphones will no longer be viewed as benefits in kind, following a change of heart from HMRC.

As a result, employers will no longer need to record smartphones on P11Ds, nor pay Class 1A NICs on the supposed benefits of the smartphones. Employees could seek refunds on amounts paid going back to 2007-08.
for more info please see:

Friday, 3 February 2012

VAT to be submitted online from April 2012

Since April 2010 most VAT-registered businesses have been required to submit their VAT Returns online and pay any VAT due electronically. HM Revenue & Customs (HMRC) plans, from 1 April 2012, to extend this requirement to all VAT-registered businesses, apart from a very small number who will be exempt. please click here to find out more :

New Personal tax rates from April 2012

From April 2012 the personal tax rate will increase from £7475.00 to £8105.00 please click the link so see more :

Reminder : Mileage is 45p

Just a quick reminder that from 05/04/2011 the mileage and fuel allowance went up from 40p to 45p for the first 10,000 miles, however after 10,000 miles the 25p rate remains the same.

Time to bring in your books

After the January rush for tax return deadlines, if your books are ready why not bring them in now to avoid next years rush!

Tax returns on time !

As usual all of our tax returns were submitted before the deadline this year !

Thursday, 2 February 2012

Ktc News Section

Welcome to the new ktc accountants news section where we will try to keep you up to date with business news!