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Dear Client,
Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we're here to help.
Loans from a company to shareholders
Draft legislation has been published which confirms an announcement made in Budget 2013 and which has effect from 20 March 2013.
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Increase in NMW rates
The Government has announced increases in the NMW rates which will come into effect on 1 October 2013.
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HMRC launch managing serious defaulters (MSD)
Following on from Managing Deliberate Defaulters programme, under MSD HMRC will closely monitor the tax affairs of more individuals and businesses who have deliberately evaded tax for up to five years.
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Employer end of year forms
HMRC are reminding employers that in order to avoid penalties they must file the Employer Annual Return (P35 and P14s) online and on time.
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Employment particulars
The government has updated the template of written employment particulars.
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P11D deadline approaching
The forms P11D, and where appropriate P9D, which report employees and directors benefits and expenses for the year ended 5 April 2013, are due for submission to HMRC by 6 July 2013.
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Scottish rate of income tax
On 14 February 2013 Scottish and UK ministers agreed the final text of the Memorandum of Understanding between HMRC and the Scottish Government covering the Scottish rate of income tax.
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Regards,
Duncan Boxwell & Company
Chartered Accountants
Montrose House,
Clayhill Park,
Liverpool Road,
Neston
CH64 3RU
Tel: 0151 336 7375 | Fax: 0151 210 2637
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