Posts for February, 2009

ISA Allowance – Use it by 5 April 2009

Friday, February 13th, 2009

Have you used your £3,600 Cash ISA allowance for the 2008/09 tax year yet?

You have until the 5th of April to invest your cash, at which time and money put into ISA’s will start to use up your 2009/10 allowance.

There are still some good ISA deals available and higher rate tax payers will benefit from not having to pay as much tax at 40%.

Remember that you only get £3,600 allowance each year which does not roll forward so use it or lose it!

 

Companies House – New Penalties Now In Force

Friday, February 13th, 2009

As of 1st February 2009, the penalties for the late delivery of Limited Company accounts to Companies House have increased significantly as follows:

Private Limited Companies:

Not more than one month – £150

More than one month but not more than three months – £375

More than three months but not more than six months – £750

More than six months – £1500

Public Limited Companies:

Not more than one month – £750

More than one month but not more than three months – £1500

More than three months but not more than six months – £3000

More than six months – £7500

In addition to the above penalties, for periods beginning on of after 6 April 2008, failure to comply with filing requirements for two consecutive years will double the penalty.