 Tax and VAT
Information on Tax and VAT is available at the following web sites.
Tax: Inland Revenue 
The Inland Revenue web site features news & information on tax & national insurance matters in the UK.
Inland Revenue:starting up
In January 2001, the Paymaster General launched a new campaign to help people starting their own businesses to register with the Inland Revenue. A new helpline was launched (08459 154515) to take registrations over the phone and the registration forms have been made shorter and more straightforward to complete. Once registered, the newly self-employed receive a new Starting up in Business Guide. The guide includes advice on tax, National Insurance, VAT, tax credits and record keeping.
Inland Revenue:forms online
The Inland Revenue recently launched a service that will allow employers to send PAYE End-of-Year return forms over the Internet. From April 9th 2001, registered users will be able to send the following forms over the Internet:
- P35 - Employer's Annual Return
- P14 - Individual Employee's End-of-Year Summary
- P38A - Employer's Supplementary Statement
It is anticipated that the service will be extended to include other PAYE forms and returns in later months.
Chartered Institute of Taxation
Offers a beginner's guide to taxation with a useful FAQ section, as well as support for tax professionals on topics ranging from taxation and electronic commerce to tax software. Also publish a free booklet for small businesses which provides a simple guide to accounting and gives advice on how to budget and manage cash. Copies of the booklet can be obtained by calling (020) 7917 9270.
Tax Tips
Useful information from Express Accountancy. Includes tax tables.
Digita Tax Calculators
A range of useful tax calculators.
IR35
An excellent site from Accounting Web which brings together masses of information in a very organised way. You can also find IR35 information from the Inland Revenue and for a range of resources including a calculator to compute the difference in hourly rate needed try Contractor UK.
Company Car Tax Zone
From Accounting Web - packed full of resources for anyone interested in fleet management. Free car tax tables, spreadsheets and calculators are among the excellent features. About 1.6 million business and company car drivers will be affected by the new business car tax laws which come into effect 6 April 2002.
Company Car Tax
A useful website for understanding and calculating company car tax.
Enhanced Capital Allowance Scheme
Businesses that have invested in specific energy-saving plant and machinery since 1st April 2001 (where they pay corporation tax) or 6th April (where they pay income tax) can claim 100% first-year capital allowance. For a copy of the Energy Technology Product List, which details qualifying equipment, call the Environment & Energy helpline on 0800 585794 or visit this website.
Tax Breaks: Research and development tax credit
Hundreds of small and medium-sized firms (SMEs) will now be allowed to claim enhanced tax relief, or tax credits for research and development (R&D). Businesses will be able to write-off 150 per cent of R&D spending against corporation tax; businesses making losses can be granted tax credits of GBP24 for every GBP100. Firms that qualify for these tax benefits must have fewer than 250 staff, and net assets of under GBP17million, and annual turnovers of less than GBP25million.
VAT: HM Customs and Excise
Information on VAT for business.
The VAT Guide
'The VAT Guide' (Notice 700) from Customs and Excise was updated May 2001. The guide contains information about VAT rules and procedures and is sent to everyone who registers for VAT. You can read the full document online.
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