Small businesses are faced with the constant challenge of corporate red tape. It comes at both a cost of money and time. But any business owner knows the importance of getting it right and do anything not to pay the price of getting it wrong.
Annual Tax On Envelope Dwellings
-Or in short ATED. ATED currently applies to residential properties owned by a company , (or partnership with one or more corporate members), that are worth more than £500,000.
Another return is also required for each property that falls within the ATED. This runs from 1 April to 31 March.
ATED usually has to be filed between 1 April and 20 April.
Intrastat reporting is the system employed to collect statistics on trade in goods between EU member states.
The Foreign Account Tax Compliance Act
-Or in other words FACTA. FACTA seeks to ensure that the country’s citizens are fully disclosing their worldwide income to the IRS.
In the UK appropriate returns must made to the HMRC
Companies must report account numbers, balances, names, addresses, and US identification numbers. For American-owned foreign entities, they must report the name, address and US TIN of each substantial US owner.
A topic familiar to most of us: the PAYE system. IF you run payroll on your own, report of employees’ payments and deductions must be sent to the HMRC on or before each payday every month.