Archive for January, 2014

Small business rates relief

Thursday, January 30th, 2014

The following information is reproduced from the GOV.UK website where you can get more information on this topic if required.

You can get small business rate relief if:

What you get

Until 31 March 2015 you’ll get 100% relief (doubled from the usual rate of 50%) for properties with a rateable value of £6,000 or less. This means you won’t pay business rates on properties with a rateable value of £6,000 or less.

The rate of relief will gradually decrease from 100% to 0% for properties with a rateable value between £6,001 and £12,000.

You have more than one property

You could get small business rate relief if the rateable value of each of your other properties is less than £2,600.

The rateable values of the properties are added together and the relief applied to the main property.

Contact your local council to apply for small business rate relief.

You’re a small business but don’t qualify for relief

If your property has a rateable value below £18,000 (£25,500 in Greater London) you’re considered a small business.

Even if you don’t qualify for small business rate relief, your business rates will be calculated using the small business multiplier instead of the standard one. This is the case even if you have multiple properties.

The multiplier shows the percentage (pence in the pound) of the rateable value that you pay in business rates. A list of current multipliers is on the Valuation Office Agency (VOA) website.

Watch out for copycat sites

Tuesday, January 28th, 2014

There has considerable press commentary during the last few weeks about a “copy-cat” website taxreturngateway.

 If you Google tax return gateway you will still be directed to https://secure.taxreturngateway.com, it’s the top listing.

The site purports to act as a channel that allows you to file your return online. When you have finished the process you will be advised that you need to pay a nominated amount, between £150 and £1000, and seems to infer that this is due to an underpayment of tax.

 DO NOT under any circumstances use this website. Any monies paid are actually a fee for using the site and will not reduce any tax owing.

 If you still need to file your 2013 tax return online go to HMRC’s official website www.hmrc.gov.uk.

Follow the relevant link in the “Do it online” panel top left on the home page. There is no separate fee for using HMRC’s online filing service…

 Don’t forget that this is the last week you can file your 2013 return without penalty. The filing deadline is Friday 31 January 2014.