May 28

Government confirms implementation of pensions dashboards

The government has confirmed that the initiative to introduce a pensions dashboard will go ahead. Pensions dashboards will allow those saving for retirement to view information from multiple pensions in one place stating that the dashboard will ‘open up pensions to millions’, and ‘provide an easy-to-access online view of a saver’s pensions’. The Department for Work […]

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May 24

Money Laundering

HMRC has published a list of businesses that have not met their obligations under the Money Laundering Regulations. As a supervisor of the Money Laundering Regulations HMRC has a duty to publish details of businesses that have been penalised for not complying with the regulations. HMRC advises that it considers cases individually to decide whether […]

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May 21

‘Flexible extension’ to Article 50

Business groups, including the British Chambers of Commerce (BCC) and the Confederation of British Industry (CBI), have commented on the six-month ‘flexible’ extension of Article 50, granted to the UK by EU leaders. The extension potentially pushes ‘Brexit Day’, the day when the UK officially leaves the EU, to 31 October 2019. Reacting to the […]

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May 17

VAT fuel scale charges

HMRC has issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2019. VAT registered businesses use the fuel scale charges to account for VAT on private use of road fuel purchased by the business. Please do get […]

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May 15

Latest guidance for employers

HMRC has issued the latest version of the Employer Bulletin. This April edition has articles on a number of issues including: Cash Allowances, Flexible Benefits Packages and Salary Sacrifice Unpaid work trials and the National Minimum Wage Diesel Supplement Company Car Tax Changes to meet Euro standard 6d Student Loans Construction Industry Scheme – helpful […]

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Mar 29

Making Tax Digital Open Days

Wednesday 3rd April & Monday 8th April – 9:00am to 5:00pm Are you confused by MTD? Do you know how MTD applies to your business? Despite all the negative press, with a simple a plan for your business, MTD does not have to be stressful. We’re here to help! Book in to one of our […]

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Mar 04

Does preparing payroll stress you out? We’re here to help.

Does preparing payroll stress you out? Are you always struggling to meet deadlines? Are you fearful of missing a submission or a pension upload? We know you have enough to deal with in the day to day running of your business… have you thought of letting someone else deal with the payroll stress?  At Sage […]

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Protect your pension pots

The Insolvency Service has urged individuals saving for retirement to protect their pension pots from criminals and ‘negligent trustees’. Research carried out by the Service found that criminals use a range of tactics to convince savers to part with their funds, including persuading individuals to access their pension and invest in unregulated schemes. Pension scam […]

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Feb 26

HMRC’s Voice ID database

Since 2017, HMRC has captured millions of callers’ voice data on its Voice ID system by encouraging the caller to say a key phrase instead of the conventional password to gain access to their accounts. However, non-profit organisation Big Brother Watch warns that people have been ‘railroaded into a mass ID scheme by the back […]

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Feb 22

Spring Statement date announced

Spring Statement date announced The Chancellor of the Exchequer, Philip Hammond, has announced that the government will respond to the forecast from the Office for Budget Responsibility (OBR) in the Spring Statement on Wednesday 13 March 2019. The Chancellor may take the opportunity to announce tax changes and consultations. We will update you on pertinent […]

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Feb 19

MTD for VAT – pilot extended to all eligible businesses

HMRC has extended its Making Tax Digital for VAT (MTDfV) pilot scheme to all eligible businesses. For most businesses, compliance with the regulations is mandated for VAT return periods beginning on or after 1 April 2019. However, MTDfV for some ‘more complex’ businesses has been deferred until 1 October 2019. This deferral applies to: trusts; […]

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Feb 15

Businesses urged to prepare for post-Brexit Customs Declarations

HMRC is urging VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. In a letter sent to 145,000 affected businesses, HMRC explains changes to Customs, Excise and VAT procedures in the ‘unlikely event’ that the UK leaves the EU without a Brexit deal. HMRC’s letter advises businesses […]

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Feb 11

Unbelievable excuses’ for late filing of tax returns

HMRC has revealed some of the most ‘bizarre excuses’ taxpayers have given for failing to file their self-assessment tax return on time. Excuses included ‘I’m too short to reach the post box’, and ‘my boiler had broken and my fingers were too cold to type’. One taxpayer claimed that a junior member of staff ‘forgot to […]

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Feb 04

HMRC publish details of deliberate tax defaulters

HMRC have updated the list of deliberate tax defaulters. The list contains details of taxpayers who have received penalties either for: deliberate errors in their tax return deliberately failing to comply with their tax obligations HMRC may publish information about a deliberate tax defaulter where an investigation has been carried out and the taxpayer has […]

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Jan 30

Pension contribution increases ahead

The Pensions Regulator (TPR) is reminding employers that from 6 April 2019, the amount that will need to be paid into a workplace pension will increase to an overall minimum of 8%, with employers contributing at least 3% of this total amount. TPR is now starting to write to all employers to remind them of […]

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Jan 28

Sage & Co brief Brexit commentary

Brexit is a significant uncertainty for small and medium-sized businesses. There is lots of advice available on planning for businesses. We have found the following useful:Welsh Government have a Brexit portal that includes a tool to assess a businesses’ position: Welsh Government Brexit Portal National Government has provided a series of technical notices that are […]

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Jan 25

Scottish Budget 2018 property tax changes

In the 2019/20 Scottish Draft Budget, Derek Mackay announced changes to Scottish Land and Buildings Transaction Tax (LBTT) which are considered below. The government’s stated policy priority for Residential Land and Buildings Transaction Tax (LBTT) remains to help first-time buyers and to assist people as they progress through the property market. Since its introduction, this […]

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Jan 22

HMRC reminder to employees to claim their tax deductible expenses

HMRC is reminding employees that they may be able to claim a tax rebate on their work-related expenses. HMRC estimate that millions of employees, particularly those working in the service industry, could be entitled to a tax refund. Workers, including nurses, hairdressers, construction workers and those working in the retail and food sectors, may be […]

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Jan 18

Scottish Budget 2018 income tax changes

Finance Secretary Derek Mackay delivered the 2019/20 Scottish Draft Budget on Wednesday 12 December 2018 setting out the Scottish government’s financial and tax plans. The announcement had been timed to take place after Chancellor of the Exchequer Philip Hammond delivered the UK Budget on 29 October 2018. The Finance Secretary announced changes to Scottish income […]

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Jan 16

Self assessment deadline approaching | 31 January 2019

The deadline for submitting your 2017/18 self assessment return is 31 January 2019. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities. […]

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My firm and family can only but support and endorse your endeavours. Thank you for your ever willing help, from all colleagues at every level of Sage and Company, to reduce any concerns that I may have had to enable my life to be as ‘stress free’ from as many ‘financial worries’ as painlessly as it is possible to be, and with such a pleasant attitude and disposition.

 

 

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