Time-line Blog: Time Line - National Taxation - 2010/2011 SELF ASSESSMENT LITTLE EXTRA TIME

2012

Future Anti-avoidance: Generally expect many minor anti-avoidance measures to be implemented, eg certain luncheon vouchers. They will each affect one of a diversity of small groups. Each will save a relatively small amount of taxation. It is a start but is suggests a lack of will to tackle major tax avoidance benefits...?

January

31st LITTLE EXTRA TIME - CHECK THE NEW DATE On-line self- assessment of income tax for 2010/2011 was due by this date. Watch out for particular weekend arrangements, if OK or not relevant, last day for on-line self-assessment for income tax year 2010/2011. (Digital password and other security checks/data should be obtained by a certain last day earlier in month - if by post!)

March

21st Budget Day
24th First time house buyers' special relief from stamp duty land tax removed - need to seek solicitor's etc advice as to appropriate contract and completion dates

April

1st All VAT-registered businesses must submit returns on-line from this date. There are a limited number of exemptions for small businesses.
Smallish purchases from Channel Isles no longer eligible for VAT exemption
New corporation tax year 2012/2013 begins.
Annual investment allowance (AIA) on company's expenditure on plant and machinery is reduced to £25,000 pa.
If accounting period goes across 1 April, any qualifying expenditure is apportioned - so be aware...?
New Seed Investment Entreprise Allowance (SIEA) begins - Investors get reliefs from income tax and capital gains tax.

2013

Executive Pay Implications: If there is any reduced executive pay, it is likely to result in a) a lower income tax take, b) even greater growth of cash piles in large companies; and c) increased profit but probably little or no increases in corporation tax take,

2015

Prospective minium income tax threshold aim for Coalition government is £10,000.

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