McAleer Jackson Charted Accountants

Archive for October, 2011

MMJ – 25 Years of Success

Paying Your Tax – What You Need To Know

As part of HM Revenue & Customs’ Tax Help Series they have released Help Sheet TH FS7 to help us understand all there is to know about paying tax.

The help sheet includes advice regarding the following:-

  • the benefits of paying electronically;
  • how to pay your tax;
  • when to make a payment;
  • setting up a personal alert;
  • where to get further help and advice.

The information in the help sheet covers the main taxes that businesses or individuals need to pay:

  • VAT
  • PAYE (for employers including Construction Industry Scheme)
  • Corporation Tax
  • Income Tax – Self Assessment.

Click here to download the tax payment help sheet.

Notifying HMRC of Changes to Your VAT Registered Business

HM Revenue & Customs have released a new form, VAT Form 484, which allows businesses who are registered for VAT to notify HMRC of certain changes.

You can notify HMRC of any of the following using the VAT Form 484:-

  • Changes to your business contact details;
  • Changes to your business bank details;
  • Changes to your VAT Return end dates;
  • Transfer of your business to a new owner.

Please note however if you have ceased trading or transferred the business to a new owner you must still complete a VAT Form 7, Application to Cancel your VAT Registration, also.

Click here to download a VAT Form 484.

Authorised by The Institute of Chartered Accountants in Ireland to carry on a range of investment business activities in the UK and the Republic of Ireland.