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This Month

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.

Friday, October 4, 2019

Independent review of the Loan Charge

The government has initiated a review of the Loan Charge and whether the policy is an appropriate way of dealing with disguised remuneration loan schemes.

Friday, October 4, 2019

Senior clinicians' pensions consultation

The government has launched a consultation on proposals to give senior NHS doctors and nurses access to more flexible pensions.

Friday, October 4, 2019

HMRC collects record amounts of IHT

The government has announced that HMRC collected a record sum of £5.4 billion in inheritance tax during the 2018/19 tax year.

Friday, October 4, 2019

'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.

Friday, October 4, 2019

Brexit-readiness events for business

The Department for Business has launched a nationwide programme of events to help businesses prepare for Brexit.

Friday, October 4, 2019

Experts warning over insolvency debts

Prioritising HMRC over other creditors in insolvencies will have a 'negative impact on the UK's economic growth'.

Friday, October 4, 2019

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.

Friday, October 4, 2019

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.

Tuesday, September 3, 2019

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.

Tuesday, September 3, 2019

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.

Tuesday, September 3, 2019

Advisory fuel rates for company cars

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

Tuesday, September 3, 2019

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.

Tuesday, September 3, 2019

Self assessment deadlines

Two self assessment deadlines are approaching.

Tuesday, September 3, 2019

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin.

Tuesday, September 3, 2019

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).

Tuesday, September 3, 2019

Other

Budget Report

Information and links about the budget report

Wednesday, October 16, 2019

Autumn Statement

Information and links about the autumn statement

Wednesday, October 16, 2019

Diary

Tax and NI due under a 2018/19 PAYE Settlement Agreement

This deadline is relevant for employers who have entered into a PAYE settlement agreement to pay tax and national insurance in respect of benefits in kind for their employees for the year ended 5th April 2019.

Where the payment is made electronically the deadline for cleared receipt of cleared payment is 22nd October 2019.

PAYE, Student loan and CIS deductions are due for the month to 5th October 2019

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2019. In year interest will be charged if payment is made late. Penalties also apply.

PAYE quarterly payments are due for small employers for the pay periods 6th July 2019 to 5th October 2019

This deadline is relevant to small employers only. As a small employer with income tax, national insurance and student loan deductions of less than £1,500 a month you are required to make payment to HMRC of the income tax, national insurance and student loan deductions on a quarterly basis.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd October 2019. In year interest will be charged if payment is made late. Penalties also apply.

Deadline for submitting 'paper' 2018/19 self assessment returns

This deadline is relevant to individuals who need to complete a self assessment tax return for 2018/19 and wish to file the return in a 'paper' form. Self assessment returns submitted after this date must be submitted electronically.

Please note that this deadline is not relevant if we are going to submit an online return for you or you are going to deal with the completion of an online return yourself. The deadline for submission of online returns is 31 January 2020.

If we are already dealing with this matter on your behalf you need take no action.

Deadline for submission of 2018/19 self assessment returns if you require HMRC to compute your tax liability and/or if tax underpaid is to be collected by adjustment to your 2020/21 PAYE code

This deadline is only relevant for those individuals who complete a 'paper' self assessment tax return and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2020/21.

Please note that where your return is submitted online then the filing deadline for 'coding out' is 30 December 2019.

If we are already dealing with this matter on your behalf you need take no action.

Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5th October 2019

This deadline is relevant to employers who provide any employees with the use of a car. The form P46 (car) only needs to be completed where a car is first provided or an additional car is provided, or an employee ceases to have the use of a car without replacement. The completion of the form enables HMRC to amend the individual's coding notice to reflect the change in benefit. This notification may be made by completing and printing off the relevant by paper or online forms.

Where one car is merely replaced with another, this may be notified online.

A change in car for car benefits which are being 'payrolled' should not be reported on a P46(car).

PAYE, Student loan and CIS deductions are due for the month to 5th November 2019

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is 22nd November 2019. In year interest will be charged if payment is made late. Penalties also apply.

Advisory Fuel Rates

New Advisory Fuel Rates (AFR) for company car users apply from today. The rates can be found by visiting https://www.gov.uk/government/publications/advisory-fuel-rates

PAYE, Student loan and CIS deductions are due for the month to 5th December 2019

This deadline is relevant to employers who have made PAYE deductions from their employees' salaries and to contractors who have paid subcontractors under the CIS.

Employers are required to make payment to HMRC of the income tax, national insurance and student loan deductions. Contractors are required to make payment to HMRC of the tax deductions made from subcontractors under the CIS.

Where the payment is made electronically the deadline for receipt of cleared payment is Friday 20th December 2019 unless you are able to arrange a 'Faster Payment' to clear on or by Sunday 22nd December. In year interest will be charged if payment is made late. Penalties also apply.

Online filing deadline for submitting 2018/19 self assessment return if you require HMRC to collect any underpaid tax by making an adjustment to your 2020/21 tax code

This deadline is relevant for those individuals who complete a self assessment tax return online and who are employees. Where you have an underpayment you may request that HMRC collect the tax outstanding by making an adjustment to your tax code for the year 2020/21.