Jul 18

Payment on account confusion

Under self assessment taxpayers are required to make payments on account of their tax liabilities. The payment on account instalments consist of two payments on account of equal amounts: the first on 31 January during the tax year and the second on 31 July following the end of the tax year. These are set by […]

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Jul 16

Employer Bulletin – latest guidance July 2019

HMRC has issued the June 2019 edition of the Employer Bulletin. This includes articles on a number of issues including: labour supply chain fraud using loans to avoid Optional Remuneration Rules re-enrolment of staff back into a workplace pension scheme GDPR fees contractors operating CIS – new VAT reverse charge on building and construction services […]

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Jul 15

Non-compliance with minimum wage regulations

A recent Low Pay Commission (LPC) report sets out its findings on the number of people being paid less than the statutory minimum wage. The LPC found that, in April 2018, 439,000 workers were paid less than the National Minimum Wage (NMW). Of this amount, 369,000 were employees aged 25 and over, who were paid […]

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Jul 12

Advisory fuel rates for company cars June 2019

New company car advisory fuel rates have been published which take effect from 1 June 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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Jul 09

Consultation on ancillary capital gains reliefs

A capital gains tax (CGT) exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief (PRR) rules. The exemption applies as long as the relevant conditions are met throughout the total period of ownership. This relief is supplemented by ancillary reliefs […]

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Jul 06

Consultation on Companies House reforms

The government has launched a consultation on proposed reforms at Companies House, including a ‘major upgrade’ of its register. The consultation aims to tackle misuse of the register. It also strives to provide business owners with ‘greater protection from fraud’. The consultation seeks views on a series of reforms to limit the risk of misuse: […]

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Jul 03

Welsh taxpayers income tax code mix-up

From April 2019, Welsh taxpayers were assigned new income tax codes beginning with the letter ‘C’. However, HMRC recently revealed that some Welsh taxpayers were mistakenly given Scottish income tax codes by their employers. As a consequence, Welsh taxpayers have been charged income tax using the Scottish income tax rates and bands. For 2019/20 the […]

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Jul 01

Forms P11D – reporting employee benefits

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information and completing the forms can take some time, so it is important that this process […]

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Jun 25

OTS calls for simplifying everyday tax for smaller businesses

A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to ‘address long-standing concerns about the experience of smaller businesses’. The report considers the business lifecycle, especially those starting up and provides recommendations in five areas: providing simple step-by-step guidance about the key things a business needs to do […]

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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 13

Scottish Air Departure Tax plans further delayed

The Scottish government has further delayed its plans to replace Air Passenger Duty (APD) with Air Departure Tax (ADT). The plans to introduce ADT have been delayed beyond 2020. In 2016, as part of the Scotland Act, the Scottish Parliament was given devolved powers to charge tax on travellers leaving Scottish airports. Proposals were put […]

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May 10

‘Springtime’ tax scams target young people

HMRC has warned young people in the UK to ‘stay vigilant’ in order to avoid falling victim to ‘Springtime’ tax refund scams. Criminals often target young individuals or the elderly as these groups of people are likely to be less familiar with the UK tax system. During the months of April and May, criminals often […]

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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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