Tag: HMRC

Working through the NIC maze can be daunting...this should simplify it for you!

Working throught the NIC maze

NIC’s – why pay it ? You pay National Insurance contributions to build up your entitlement to certain state benefits, including the State Pension. The contributions you pay depend on how much you earn and whether you’re employed or self-employed. You stop paying National Insurance contributions when you reach State Pension age. (If you are […]

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The end of yearly tax returns…but not tax !.

Annual tax returns will soon be a thing of the past! Taxes themselves are not going away; you still have to pay taxes. The method used to file them at the end of the year will be different. In fact, the new tax filing method will be so different and so much easier to access, […]

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RTI Penaties coming…even for churches

HMRC has not yet imposed penalties for late RTI (Real Time Information) [electronic] submissions made within the tax year, but that is about to change. From 6 April 2014 penalties will start to accrue after the first failure in each of these situations: – filing a full payment submission (FPS) after the date of payment […]

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Gift Aid recommended wording

A common question I get is “what is the correct wording for Gift Aid envelopes”. Well here it is (for past and future gifts; not for one-off gifts)… “I confirm I have paid or will pay an amount of Income Tax and/or Capital Gains Tax for the current tax year (6 April to 5 April) […]

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Self Employed Travel Expenses

The miles you drive to reach each of your customers from your home base are used to calculate the amount of travel expenses you claim in your business accounts. This is all good, but HMRC has recently argued in a tax case that where the business is based at the person’s home, that home-office can’t […]

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“Charities online” – the new Gift Aid claiming system

HMRC is commencing a new service, “Charities Online“. It will make repayment claims faster and easier by filing online. The current R68(i) print and post repayment form will be replaced. From 22 April 2013, churches/charities can sign up to make repayment claims electronically using “Charities Online”. When you submit a claim using “Charities Online”, you […]

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New tax Free Allowance

This may be of interest for Self employed pastors of churches. The standard personal allowance (amount of tax-free income) for 2013/14 will be £9,440. We had been expecting a smaller increase to £9,205. The new higher allowance allows an individual to earn £181.54 per week (about £787 per month) tax free. But the NIC thresholds […]

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Streamlined Gift Aid for charity shops

http://www.mynewsdesk.com/uk/pressroom/hm-revenue-customs-hmrc/pressrelease/view/streamlined-gift-aid-for-charity-shops-823975 Here is the article in full which describes well a great benefit for churches with charity shops… New rules that will lift the administration burden for charities claiming Gift Aid on the proceeds of donors’ goods sold by charity shops have been announced by HM Revenue and Customs (HMRC). The new rules allow donors […]

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A quick question regarding mileage payments

  Here is a common question: I am employed by a charity that provides me with a car less than 1400 cc. They pay for all the petrol, but the charity reimburses me for work related journeys at .15 pence per mile. This rate has not changed since June 2011, although the price of petrol […]

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