Tax deadline looms for non-mathematicians
Article Abstract:
United Kingdom taxpayers seeking calculation of their tax bill by the Inland Revenue should send in their tax forms by Sep 30 1997. Documents have to be assembled and this takes time, so taxpayers should not delay. Taxpayers who want the Inland Revenue to calculate their bill can wait until after the deadline but they may not receive the bill before Jan 31 1998, and may be charged interest on unpaid tax if they then delay paying the bill. The tax authorities will not change forms if taxpayers have failed to claim tax relief, and this relief could be lost.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
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Options after closing time
Article Abstract:
Holders of personal equity plans (Peps) in United Kingdom can retain their plans for as long as they wish but cannot place new funds in a Pep after April 5 1999. Peps are closed after everything in them is sold and the cash is withdrawn after that date. Peps are a good opportunity for investors to increase returns from investments based on equities, and investors who have not used allowances for 1998 to 1999 should consider doing so. They can purchase corporate bond Peps if they prefer to avoid stock markets due to concerns about instability.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1998
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Now it's all down to you
Article Abstract:
The UK tax authorities are introducing self-assessment which has a great mpact on 8.5 million taxpayers filling in tax returns. Other taxpayers are affected and have a duty to keep records for the authorities. Penalties will be imposed automatically for tax payers who do not keep records, or who send in forms or pay tax late. Taxable profit for 1996 to 1997 is taken to be the average for the two preceding accounting periods before April 5 1997. late payments will have an interest charge of 8.5%.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1997
User Contributions:
Comment about this article or add new information about this topic:
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