Tax and accountancy issues of today
COMPANIES REGISTRATION OFFICE The B1 annual return and accounts are due for Limited Companies with a year end between 1st and 31st August 2015. REVENUE Due by 21st May 2015 Preliminary tax for limited companies whose year end is between 1st and 30th June 2015 Due from limited companies whose year end is between 1st … Read more MAY DEADLINES FOR LIMITED COMPANIES
Companies Act 2014 doesn’t just consolidate all the Companies Acts 1963 to 2013, it also introduces two new company models, one of which (the LTD company) is a much simplified company type. Existing Private Companies limited by shares (EPC) must choose to convert to one of these new company models. No fees will be charged … Read more COMPANIES ACT 2014 – CONVERSION TO NEW COMPANY TYPE
A dairy farmer( lessor)with surplus cattle may lease them to another dairy farmer (lessee) who wishes to increase production without the need to invest in the ownership of extra animals. Where the lessor continues to carry on the business of farming: Income from leasing of cattle will be considered income from farming stock relief … Read more TAX TREATMENT OF ANIMAL LEASING
Companies Act 2014 is due to commence on 1st June 2015. To qualify for appointment as a Company director a person cannot be : under 18 years of age a body corporate undischarged bankrupt director of more than 25 companies unless those other companies are exempted (exemptions are: PLCs, Form B67 registered companies, Licensed under … Read more COMPANIES ACT 2014 – COMPANY DIRECTORS
Finance Act 2014 increased the averaging of farm profits from three years to five years from 2015. Who can make an election for farm averaging? The farmer must have paid tax on farm profits for each of the 4 immediately preceding years of assessment. What effect does the change from three to five … Read more AVERAGING OF FARM PROFITS