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Tax Strategies, Accountancy Services, Profit Improvement, Strategic Planning
Exclusive Free Bulletin from A4G Solutions newsletter
Date: 19/06/06 - Issue No: 29
Topical tax tips

Late taxpayers face an increase in interest rates

As from 6th September taxpayers who are late in paying their taxes and national insurance contributions will face higher interest payments. HM Revenue and Customs have also announced an increase in the rates of interest paid on overpaid taxes.

The main changes to interest rates are as follows:

  Old rate Increased rate
Late payments of income tax, national insurance contributions, capital gains tax, stamp duties 6.5% 7.5%
Overpaid income tax, national insurance contributions, capital gains tax, stamp duty, stamp duty land tax and stamp duty reserve tax (repayment supplement) 2.25% 3%
Late payment or repayments of inheritance tax 3% 4%
Unpaid corporation tax for accounting periods ending on or after 1 July 1999 (other than underpaid CT instalments) 6.5% 7.5%
Overpaid corporation tax for accounting periods ending after 1 July 1999, in respect of periods after the normal due date 3% 4%

If you require any further information on the new increased rate please email Janice@stephen-hill.co.uk
Improve and Grow your business and personal finances

Motivation

Very often, the hardest part of any important activity is getting started on it in the first place. Once we actually begin work on a valuable project, we seem to be naturally motivated to continue. There is a part of your mind that loves to be busy working on significant jobs that can really make a difference.

The most valuable activities we can do each day are often the hardest and most complex but the payoff and rewards for efficient completion can be remarkable. For this reason, we must refuse to work on activities in the bottom 80% of our priority list, whilst we still have jobs in the top 20% left to be done.


List key goals, activities and projects in your life right now. Which of these are, or could be, in the top 20% of tasks that could represent 80% of your results?  Before you begin work, ask yourself "Is this task in the top 20% of my activities or in the bottom 80%?"

How about resolving right now, to spend more and more of your time working in those few areas that can really make a difference in you life and career, and less and less time on lower value activities?

Pam Harris is one of the speakers at the first Javelin Business Strategies Conference to be held at London Golf Club on Wednesday 27th September. For tickets to hear Pam and Steve Backley OBE, email jenny@stephen-hill.co.uk

Other News

James qualifying

We are having a good run of exam passes this year and we are now pleased to announce that James Bevis has passed his final exams. James, who delayed his exams a couple of times in the past two years following the births of his son and then daughter is now an affiliate of the Association of Chartered Certified Accountants.

Quote of the week

If you’re not failing every now and again, it’s a sign that you’re not doing anything very innovative”

Woody Allen

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A4G Business, Tax and Financial Solutions is a trading name of A4G Accounting LLP. Company number OC320365. Regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales. A list of members is available on request. Associate: stephen-hill Limited, Chartered Accountants and registered Auditors.

A4G Business, Tax and Financial Solutions