January Newsletter

Happy New Year! Welcome to the January edition of our Newsletter and the first instalment for 2015. We hope you find the included articles informative and helpful, please feel free to forward on to your friends and colleagues.

Self Assessment 2014

If you still haven’t gathered together your income and expenditure records for the year ended 5 April 2014 then this does need to be done sooner rather than later.


Engagement through Marketing

You may think that we accountants are focussed on our clients’ businesses at all times, which we are, but sometimes we have to focus on our own business and enter the complex world of marketing.


VAT MOSS (Mini One Stop Shop)

Changes to the VAT law affecting the supply of digital/electronic services (to non-business customers) came into effect on 1 January 2015. VAT is now chargeable at the rate applicable in the consumers home country.


Excuses, excuses...

HMRC have recently released their list of the all time worst excuses offered by taxpayers who were late in filing their self assessment returns.


Important Dates

14 January - Return and payment of CT61 tax due for quarter to 31 December 2014

19/22 January - PAYE/NIC, student loan and CIS deductions due for month to 5/1/2015 or quarter 3 of 2014/15 for small employers

31 January

  • Deadline for filing 2014 Self Assessment personal, partnership and trust Tax Returns - £100 first penalty for late filing even if no tax is due or tax due is paid on time
  • Balancing self assessment payment due for 2013/14
  • Capital gains tax payment due for 2013/14
  • First self assessment payment on account due for 2014/15
  • Interest accrues on all late payments
  • Half yearly Class 2 NIC payment due
  • Further penalty of 5% of tax due or £300, whichever is greater for personal tax returns still not filed for 2012/13
  • 5% penalty for late payment of tax unpaid for 2012/13 self assessment


The information contained in this newsletter is of a general nature and no assurance of accuracy can be given. It is not a substitute for specific professional advice in your own circumstances. No action should be taken without consulting the detailed legislation or seeking professional advice. Therefore no responsibility for loss occasioned by any person acting or refraining from action as a consequence of the material can be accepted by the authors or the firm.
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