More recent posts
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Congratulations to New Star Games
Magma is delighted that its client New Star Games picked up a BAFTA in the BAFTA Games Awards 2013 held at the London Hilton Hotel last night. It…
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HMRC targets second home sales
HM Revenue & Customs (“HMRC”) have launched a new property sales campaign. HMRC is targeting anyone who has sold residential property (other than their main home) in the…
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CIOT concerns over proposals for cash accounting
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…
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Enterprise Management Incentive Schemes – The Basics
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…
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Direct sellers have one month to settle tax bills
HMRC have warned that anyone selling directly to customers, and who haven’t paid the tax they owe, have one month to come forward and make the payment. Direct…
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Cap on unlimited Income Tax reliefs
22 November 2012 A range of tax reliefs available against income are to be brought under a cap from 6 April 2013. This may significantly limit tax savings…
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Government proposals for owner-employee share schemes
12 October 2012 The governments new proposals for owner-employee share schemes seek to encourage employee ownership of companies, whilst partially reducing the burden of employment laws. There will…
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Preparation for auto-enrolment
30 September 2012 The Government is introducing auto-enrolment, a compulsory requirement for employers to enrol employees into a workplace pension scheme. Auto-enrolment commences for large employers from October…
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HMRC targets London lawyers and others in latest taskforce initiative
HMRC’s latest tax taskforce initiative will target London lawyers, grocery and retail businesses in Wales, hair and beauty businesses in the North East, restaurants in the South East…