Chartered Accountants - Business Advisors - Tax Specialists - Insolvency Practitioners

13:41 PM - Tue, Jan 23rd, 2018

Useful Information

Key Dates

May 2012

Saturday 19 – Filing deadline for P14, P35, P38 and P38A

Thursday 31 – Issue P60s to employees

July 2012

Friday 6 – Deadline for forms P11D, P9D and P11D(b) for 2009/10 to be submitted to HMRC and copies to be issued to employees concerned

Thursday 19 – Class 1A NIC due for 2009/10

October 2012

Wednesday 31 – Deadline for submitting ‘paper’ 2011/12 self-assessment tax return (SATR).

December 2012

Sunday 30 – PAYE, Student loan and CIS deductions are due for the month to 5th December 2010

Sunday 30 – Online filing deadline for submitting 2011/12 self-assessment tax return (SATR) if you require HMRC to collect any underpaid tax by making an adjustment to your 2013/14 tax code

January 2013

Thursday 31 – Deadline for submitting 2011/12 self-assessment tax return (SATR)

 

Payment Dates                                                                                               2012-13               2011-12

Income Tax and Class 4 NICs

1st Payment on account                                  31st January                        2013                       2012

2nd Payment on account                                31st July                                2013                       2012

Balancing Payment                                         31st January                         2014                       2013

Capital Gains Tax                                            31st January                        2014                       2013

Class 1A NICs                                                  19th July                                2013                       2012

Corporation Tax                                              9 months and 1 day after the end of the accounting period.

 

Key Rates

Income Tax                                                                                      2012-13                               2011-12

Starting rate for savings 10%                                                       £0-£2,710                            £0-£2,560

Basic Rate 20% (Dividend ordinary rate 10%)                         £0-£34,370                         £0-£35,000

Higher Rate 40% (Dividend upper rate 32.5%)                        £34,371 – £150,000         £35,001 – £150,000

Additional Rate 50% (Dividend additional rate 42.5%)           Over £150,000                   Over £150,000

 

Personal Allowances

Under 65 years of age                                                                       £8,105                                  £7,475

65 – 74 years of age                                                                          £10,500                                £9,940

75 and over                                                                                          £10,660                                £10,090

Ages are at the end of the tax year.

 

Capital Gains Tax                                                                        2012-13

On chargeable gains. Total taxable income and gains

Up to £34,370                                                                                    18%

From £34,371                                                                                    18%

Trust rate                                                                                            28%

Annual exempt amount                                                                £10,600

Gains qualifying for Entrepreneurs Relief will be taxed at a rate of 10% up to a lifetime limit of £10million.

Transfers between spouses and civil partners are generally not chargeable.

 

Corporation Tax                                                         31/03/2013                          31/03/2012

Profits chargeable to corporation tax:

First £300,000                                                                  20%                                        20%

Next £1,200,000                                                              25%                                        27.5%

Over £1,500,000                                                              24%                                        26%

Annual investment allowance (AIA)                          £25,000                                £100,000