The Chartered Institute of Taxation (“CIOT”) has expressed concerns over the complexity of the proposed new cash accounting basis for small businesses. The new cash accounting basis is expected to be included in Finance Bill 2013. Whilst the CIOT backs plans to introduce cash accounting, it is concerned that some of the proposed conditions, such […]
The Chartered Institute of Taxation (“CIOT”) is lobbying the government to review the penalty regime for the new payroll reporting system, Real Time Information (“RTI”), suggesting that penalties for inaccurate returns should only be issued from April 2014. Currently, the government plans to charge penalties for incorrect returns from the summer of 2013, although penalties […]
15 February 2013 An Enterprise Management Incentive (“EMI”) scheme is an approved employee share scheme that is available to most trading companies, allowing employers to grant share options to key employee’s tax efficiently, as a reward for their efforts within the business and/or to retain and incentivise key staff. Introduction EMI was introduced in 2000; […]
