14 Apr 2014
EC sales list
Deadline for paper monthly or quarterly return filing.
Due date for income tax for the CT61 period to 31 March 2014.
07 Apr 2014
Due date for February VAT returns unless exempted.
06 Apr 2014
Start of the new 2014/15 tax year
The personal allowance for people born after 5 April 1948 increases to £10,000
The basic rate limit will be set at £31,865
The loan threshold for cheap loans increases from £5,000 to £10,000
Personal allowance increases from £9,440 to £10,000.
Tax bands and exemptions
Basic rate limit reduces to £31,865. The higher rate band now applies to taxable income from £31,866 to £150,000. Capital gains tax annual exemption increases to £11,000.
First day to make a contribution to qualify for tax relief in 2014/15. The annual allowance is now £40,000 and the limit on the amount that can be invested into a registered pension scheme is £1,250,000.
First day to use the 2014/15 ISA investment limit of £11,880 (cash maximum of £5,940).
Employers who provide their employees with interest free or low interest loans are no longer required to report the cash equivalent on small loan balances where the outstanding balance is £10,000 or less. Previously this limit was £5,000.
Employer national insurance contributions
Eligible businesses and eligible charities are now entitled to a £2,000 Employment Allowance towards their employer NICs liability
Start of the new tax year
First day of the 2014/15 tax year.
05 Apr 2014
End of tax year
Last day of 2013/14 tax year.
Capital gains tax
Last day to use the 2013/14 capital gains tax exemption of £10,900.
Last day to utilise 2013/14 inheritance tax exemptions.
Last day to use the 2013/14 ISA investment limit of £11,520 (cash maximum of £5,760).
Last day to make a contribution to qualify for tax relief in 2013/14. Last day of the £50,000 annual allowance and the £1,500,000 limit on the amount that can be invested into a registered pension scheme.
02 Apr 2014
End of corporation tax financial year.
01 Apr 2014
Corporation tax rate
The rate of corporation tax reduces to 23%
Start of the New ISA
The old ISA regime is replaced by the New ISA. Total ISA investment for the current tax year is now £15,000 with no limit on the investment in cash. The Junior ISA limit increases to £4,000.
Company car tax
Company car tax - 11% (14% for diesel cars) company car tax band now starts at 76 g/km - this applies to cars with CO2 emissions up to 94 g/km.
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