Sage-blog-headersVAT fuel scale charges

May 23

VAT fuel scale charges

HMRC have 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 2018. 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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Sage-blog-headersworkplace charging

May 21

HMRC consultation on benefits exemption for workplace charging facilities

HMRC are consulting on the tax exemption which will apply from 6 April 2018 on workplace electric charging facilities used by employees. It was announced in the Autumn Budget 2017 that the government intends to implement an exemption for the benefit of electricity provided by an employer, at the workplace, to charge electric or plug-in […]

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Sage-blog-headersp11d deadline

May 17

P11D deadline approaching

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2018 are due for submission to HMRC by 6 July 2018. The process of gathering the necessary information can take some time, so it is important that this process is not left to […]

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Sage-blog-headerstax relief scottish

May 14

Tax reliefs following the Scottish Budget

The Government has stated that it will ensure that tax reliefs continue to work as they were intended as the new Scottish Income Tax rates and bands are introduced from 6 April 2018. The Government has confirmed: Marriage Allowance Marriage Allowance allows taxpayers to transfer 10% of their tax-free Personal Allowance to their spouse or […]

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gdpr

May 10

GDPR compliance deadline looms

With less than one month until the introduction of the new General Data Protection Regulation (GDPR), the Federation of Small Businesses (FSB) is warning small and medium-sized enterprises (SMEs) that time is running out for them to prepare. The business group stated that small businesses face an ‘uphill challenge’ in ensuring that they are compliant […]

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Sage-blog-headerschildcare

Apr 30

Employer-Supported Childcare gets a reprieve

Many employers help employees with childcare costs, often by providing childcare vouchers by way of salary sacrifice. Following the roll out of Tax-Free Childcare (TFC), the new government scheme to help working parents, existing Employer-Supported Childcare (ESC) schemes were expected to close to new joiners from April 2018. However following the Chancellor’s Spring Statement, Education […]

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Sage-blog-headersland transaction

Apr 25

Welsh Land Transaction Tax introduced

From 1 April 2018, Land Transaction Tax (LTT) will replace Stamp Duty Land Tax (SDLT). LTT will be collected by the Welsh Revenue Authority (WRA). HMRC has published guidance on the introduction of the new tax and the way in which property transactions straddling 1 April 2018 and cross border transactions will be dealt with. […]

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Sage-blog-headersspring statement

Apr 19

Spring Statement announces consultations

Chancellor Philip Hammond delivered his Spring Statement on Tuesday 13 March 2018. In his speech, the Chancellor announced consultations would be issued on: how to help the UK’s least productive businesses to learn from, and catch-up with, the most productive how to eliminate late payments particularly to benefit small business whether the use of non-agricultural […]

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Sage-blog-headersgdpr

Apr 16

GDPR

New data protection rules from General Data Protection Regulation (GDPR) will replace the Data Protection Act in the UK from 25 May 2018. GDPR is designed to safeguard personal data of citizens from EU member states, with particular emphasis on transparency and accountability. It applies to all businesses in the EU and non-compliance will lead […]

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Sage-blog-headersmaking tax digital

Apr 11

Making Tax Digital for VAT from April 2019

The regulations to bring into force Making Tax Digital for VAT (MTDfV) are now law, and digital VAT returns will be required from 1 April 2019. MTDfV is the first phase of HMRC’s landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Regulations have now […]

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Sage-blog-headersupdate for employers

Apr 06

Update for employers and their employees

HMRC’s latest Employer Bulletin includes useful updates for employers as we approach the start on the new tax year on 6 April 2018. The Bulletin includes articles on: end of year reporting for payroll and reporting benefits in kind P9 Notice of Coding and the system of in year tax code adjustments known as Dynamic […]

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Sage-blog-headersincome tax

Apr 05

INCOME TAX CHANGES FROM 6 APRIL 2018

The personal allowance for 2018/19 is £11,850. However, some individuals do not benefit from the full personal allowance. There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000, which is £1 for every £2 of income above £100,000. So for 2018/19 there is no personal allowance where adjusted net […]

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Sage-blog-headers-bbc journalist

Mar 30

Tribunal rules BBC journalist is caught by ‘IR35’ legislation

A First Tier Tribunal has ruled that Christa Ackroyd who presented BBC news programme Look North and was paid via a personal service company was caught by the IR35 rules resulting in additional tax and national insurance contributions being payable. The IR35 rules in broad terms mean that those working via a personal service company […]

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Sage-blog-headers-scotland

Mar 28

Scotland’s five income tax bands and tax relief for pensions

  Tax relief on pension contributions is a complex matter and depends on the marginal tax rate of the individual concerned and whether or not the contributions are being paid with relief at source or under net pay arrangements. The following link details how relief will be given for 2018/19. If you would like help […]

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Sage-blog-headers-auto enrol

Mar 26

Pensions Auto Enrolment reaches a million employers

The Pensions Regulator has announced that the number of employers meeting their workplace pension duties has reached one million and that statistics show that approximately 9.3 million people are saving into a pension. TPR’s Director of Automatic Enrolment, Darren Ryder, said: ‘I am delighted we have reached this important landmark, which shows how far we […]

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Sage-blog-headers-minimum wage

Mar 22

Minimum Wage increases

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW and NLW rules. There are different levels of NMW and NLW, depending on age and whether the employee is an apprentice. […]

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Sage-blog-headers-fuel rates

Mar 19

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 March 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on […]

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Sage-blog-headers-year end

Mar 15

Year end tax planning

With the end of the tax year looming there is still time to save tax for 2017/18. We have set out some points you may want to consider. • Make full use of your ISA allowance – ISAs can offer a useful tax free way to save, whether this is for your children’s future, a […]

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Sage-blog-headersscam texts

Feb 28

HMRC halts thousands of scam text messages

HMRC have announced that they have stopped thousands of taxpayers from receiving scam text messages ‘with 90 percent of the most convincing texts now halted before they reach their phones’. HMRC’s press release states: ‘Fraudsters alleging to be from HMRC send text messages to unsuspecting members of the public. In these messages they will make […]

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Sage-blog-headerssubscriptions

Feb 26

Updated list of professional subscriptions

Employees are allowed to claim tax relief on their annual professional fees or subscriptions to some HMRC approved professional organisations. The costs are tax deductible generally where the individual must have membership to do their job or it is helpful for their work.  Where the fees are paid by the individual’s employer this will not […]

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