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Update week ended 27 October 2010

27th October 2010

PAYE hot potatoYou may be receiving the form P800.If the form shows that you have under £300 outstanding (per tax year) – the good news is that the tax is written off (see our 16 Sep blog).If under £2,000 (in total for both fiscal years) you will receive a P2 form detailing how much is collected through the payroll. Please ...read more

Tax update – week ended 27 August 2010

3rd September 2010

VAT reclaims in timeA married couple opened a pub in County Durham, April 2004. They submitted VAT returns, paying sales tax (VAT) to the government every 3 months. However, they didn’t realise that they could reclaim the VAT on purchases – up until they de-registered for VAT in March 2006.Somebody pointed out to them that they had lost out on ...read more