Nov 07

DEMENTIA AWARE ST ASAPH OPEN MEETING – TUESDAY 19TH NOVEMBER 2019

Dementia Friendly St Asaph Steering Group is holding a DEMENTIA AWARE ST ASAPH OPEN MEETINGsupported by DVSC’s Dementia Aware Denbighshire Community-Led Programme Guest speakers Chris Morgans & Jayne Goodrick Open to residents, businesses and community groups to help make St Asaph a Dementia Friendly Community TUESDAY 19TH NOVEMBER 2019 6.00PM – 7.00PM ST ASAPH CRICKET CLUB, […]

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Nov 06

HMRC collects record amounts of IHT

The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year. The increase comes on the back of a 15% rise in the number of estates liable for IHT. Between 2015/16 and 2016/17, the number of estates paying IHT rose by 3,600 to 28,100. […]

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Nov 01

Money Laundering non-compliance

HMRC has published details of businesses that have failed to comply with the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. HMRC is also advising that the published person may have changed their behaviour or no longer be based at the published address. Also that the business currently at […]

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Oct 28

Senior clinicians’ pensions consultation

The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible pensions. The proposals aim to offer senior clinicians more control over their pensions growth. The consultation follows reports that senior NHS clinicians pension tax charges are making them retire early or change their working habits. The Department […]

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Oct 23

‘Major gaps’ in no-deal Brexit guidance

According to the British Chambers of Commerce (BCC) there are ‘major gaps’ in the government’s no-deal Brexit guidance for UK businesses. The BCC carried out a review of official government no-deal Brexit guidance for businesses, and found that 31 of 36 critical areas are still marked amber or red, suggesting that businesses have ‘incomplete or insufficient […]

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Oct 21

Brexit-readiness events for business

The Department for Business has launched a nationwide programme of events to help businesses prepare for Brexit. The free events are designed to provide free advice on a range of Brexit-related topics, including exporting, importing and employing EU citizens. Attendees will also have the opportunity to hear from senior government officials and access support tailored […]

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Oct 18

VAT domestic reverse charge for building and construction services delayed

HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services. The reverse charge represents part of a government clamp-down on VAT fraud. According to the government, large amounts of VAT are lost through ‘missing trader’ fraud. As part of missing trader fraud, VAT is charged […]

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Oct 07

Strong Customer Authentication

The Financial Conduct Authority (FCA) has agreed a plan to give the payments and e-commerce industry extra time to implement Strong Customer Authentication (SCA). From 14 September 2019, new European Union (EU) rules apply that impact how banks or payment services providers verify their customers’ identities and validate payment instructions. The Strong Customer Authentication (SCA) […]

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Oct 02

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Class 1A liabilities payable on Termination Awards and Sporting Testimonial Payments Off-payroll working rules from April 2020 Disguised Remuneration Seasonal Workers Contractors operating CIS – new VAT reverse charge on building and construction services ‘Trivial […]

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Sep 27

PAYE late filing and late payment penalties

HMRC has confirmed that it will continue its risk-based approach to payroll Real Time Information (RTI) late filing and late payment penalties this tax year. Rather than late filing and late payment penalties being issued automatically, HMRC will continue to issue them on a risk-assessed basis during 2019/20. HMRC has also confirmed that penalties for […]

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Sep 25

Advisory fuel rates for company cars Sept 2019

New company car advisory fuel rates have been published which take effect from 1 September 2019. 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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Sep 23

Trusts with small amounts of savings income

In the latest Trusts and Estates Newsletter HMRC has confirmed the continuation of the interim arrangement for interest reporting. In 2016 the requirement for payers to deduct tax at source on bank and building society interest was removed and income from these sources is now paid gross. Due to this change, trustees and personal representatives […]

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Sep 20

HMRC issues Customs EORI numbers

In order to try and ensure that businesses are ready to trade post-Brexit, HMRC is automatically enrolling them in the customs system. HMRC has confirmed that more than 88,000 VAT-registered businesses across the UK will be allocated an Economic Operator Registration and Identification (EORI) number in order to enable them to keep trading with customers […]

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Sep 19

Self assessment deadlines

Two self assessment deadlines are approaching: 5th October 2019 For those individuals who have not previously completed a tax return but need to report a liability for 2018/19. 31st October 2019 For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2018/19 return is 31 October 2019. Returns submitted […]

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Sep 18

Simplify apprenticeship funding

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged the government to simplify the complexities of accessing apprenticeship funding. The Apprenticeship Levy took effect from 6 April 2017 and changed the way in which apprenticeships are funded. Larger employers are required to pay a levy of 0.5% of their annual pay bill. […]

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Aug 29

Updated guidance on spotting HMRC scammers

HMRC has updated their list of examples of websites, emails, letters, text messages, WhatsApp messages and phone calls used by scammers and fraudsters to obtain an individual’s personal information. The guidance can be used to help you decide if a contact from HMRC is genuine and provides examples of the different methods that fraudsters use […]

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Aug 22

Wage growth at a high

Data published by the Office for National Statistics (ONS) has revealed that UK wage growth increased to 3.6% in the year to May 2019, the highest rate since the financial crisis in 2008. According to the ONS, wages have been rising faster than inflation since March 2018 and that increases to the National Minimum Wage […]

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Aug 19

VAT changes may cause construction chaos

The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos. The VAT domestic reverse charge for building and construction services applies from 1 October 2019. It is an anti-fraud measure […]

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Aug 13

Private Residence Relief changes

The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief (PRR). The draft legislation is subject to consultation which closes on 5 September 2019. Following consultation this Spring, changes are proposed to the Private Residence Relief (PRR) regime from April 2020. For properties that have […]

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Insolvency hierarchy changes

From 6 April 2020, insolvency legislation will be amended to move HMRC up the creditor hierarchy for the distribution of assets in the event of insolvency by making HMRC a secondary preferential creditor in respect of certain tax debts held by a business (this includes individuals and partnerships) on behalf of their customers and employees. This includes […]

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