Author Archive:
Milan Patel
Wealth Management in EnglandMilan Patel
bronzeMilan is a bronze memberManaging Partner, King & King Chartered Accountants
ATED for non-resident companies
Read more: ATED for non-resident companiesThe Annual Tax on Enveloped Dwellings (ATED) came into effect from 1 April 2013. The tax applies to certain Non-Natural Persons (NNPs) that own interests in dwellings valued at more than £500,000. These provisions affect most companies, partnerships with company members and collective investment schemes. For the purposes of the ATED, it is immaterial whether…
Changes at HM Treasury
Read more: Changes at HM TreasuryLast week saw the resignation of the previous Chancellor Rishi Sunak from the Government. The previous Chancellor said he could no longer continue in his role in good conscience. The Prime Minister almost immediately sought to fill this role and appointed Nadhim Zahawi as Chancellor of the Exchequer. However, the Prime Ministers move to shore…
Tax Diary February/March 2022
Read more: Tax Diary February/March 20221 February 2022 – Due date for Corporation Tax payable for the year ended 30 April 2021. 19 February 2022 – PAYE and NIC deductions due for month ended 5 February 2022 (If you pay your tax electronically the due date is 22 February 2022). 19 February 2022 – Filing deadline for the CIS300 monthly…
VAT Flat Rate Scheme exclusions
Read more: VAT Flat Rate Scheme exclusionsThe VAT Flat Rate scheme has been designed to simplify the way a business accounts for VAT and in so doing reduce the administration costs of complying with VAT legislation. Using the Flat Rate scheme, businesses pay VAT as a fixed percentage of their VAT inclusive turnover. The actual percentage used depends on the type of…
Who should register for Plastic Packaging Tax
Read more: Who should register for Plastic Packaging TaxThe new Plastic Packaging Tax will come into effect from 1 April 2022. The tax will not apply to any plastic packaging which contains at least 30% recycled plastic, or any packaging which is not predominantly plastic by weight. The tax will be charged at a rate of £200 per metric tonne and will apply…
How CIS off-set works in practice
Read more: How CIS off-set works in practiceThe Construction Industry Scheme (CIS) is a set of special rules for tax and National Insurance for those working in the construction industry. Businesses in the construction industry are known as ‘contractors’ and ‘subcontractors’ and should be aware of the tax implications of the scheme. Under the scheme, contractors are required to deduct money from a…
Tax and customs duties for goods sent from abroad
Read more: Tax and customs duties for goods sent from abroadThere are special rules to help ensure that goods sent from abroad are taxed appropriately and to ensure that UK businesses supplying goods in the UK, for example by having to compete with VAT free imports, are not disadvantaged. This includes goods that are new or used and bought online, bought abroad, and shipped to the UK…
Filing obligations for private limited companies
Read more: Filing obligations for private limited companiesIt is important that anyone responsible for the accounts and tax filing regime for private limited companies is aware of their obligations. After the end of its financial year, a private limited company must prepare full annual accounts and a company tax return. The deadline for filing the first set of accounts with Companies House is…
Government nudges local authorities
Read more: Government nudges local authoritiesThe Secretary of State for Business, Energy & Industrial Strategy has written a letter to local authorities in England urging them to help support businesses in the hospitality and leisure sectors as efficiently as possible. Just before Christmas, the Chancellor, Rishi Sunak announced a support package for businesses most impacted by the Omicron variant. The…
King & King Chartered Accountants joins IR as the exclusive Corporate Governance & Compliance Member in England
Read more: King & King Chartered Accountants joins IR as the exclusive Corporate Governance & Compliance Member in EnglandIR Global, the world’s largest exclusive network of advisory firms is delighted to introduce Milan Patel of King & King Chartered Accountants. Milanhas joined IR as our exclusive Corporate Governance & Compliance Member in England. Milan is the Managing Partner and oversees King & King’s Management Board, taking responsibility for the strategic development of the firm.…