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This Month

Spring Statement 2019

The Chancellor Philip Hammond presented his Spring Statement on Wednesday 13 March 2019.

Wednesday, March 13, 2019

HMRC advice - prepare for no deal

HMRC is urging business owners to make sure they are ready for a potential no deal Brexit.

Tuesday, March 5, 2019

Start date looming for Making Tax Digital for VAT

The Financial Secretary to the Treasury, Mel Stride, has made a statement to the House of Commons setting out HMRC's progress on delivery of Making Tax Digital.

Tuesday, March 5, 2019

Advisory fuel rates for company cars

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

Tuesday, March 5, 2019

Scottish income tax bands confirmed for 2019/20

The Scottish Parliament has confirmed the income tax bands that will apply to Scottish taxpayers for 2019/20.

Tuesday, March 5, 2019

Minimum Wage increases

The National Minimum Wage and National Living Wage are the legal minimum wage rates that must be paid to employees.

Tuesday, March 5, 2019

Pensions auto enrolment contributions to rise

Minimum pension contributions are set to increase from 6 April 2019.

Tuesday, March 5, 2019

Tax efficient investments ahead of the tax year end

With the end of the tax year looming there is still time to save tax for 2018/19.

Tuesday, March 5, 2019

Latest update for employers

HMRC has issued Employer Bulletin (February 2019) which includes a number of interesting articles.

Tuesday, March 5, 2019

Households with landlines should be vigilant

Over recent years HMRC has increasingly cracked down on email and SMS phishing.

Tuesday, March 5, 2019

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.

Wednesday, February 6, 2019

MTD for VAT - pilot extended to all eligible businesses

HMRC has extended its Making Tax Digital for VAT pilot scheme to all eligible businesses.

Wednesday, February 6, 2019

HMRC's Voice ID database

Since 2017, HMRC has captured millions of callers' voice data on its Voice ID system.

Wednesday, February 6, 2019

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 in the Spring Statement on Wednesday 13 March 2019.

Wednesday, February 6, 2019

'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.

Wednesday, February 6, 2019

Protect your pension pots

The Insolvency Service has urged individuals saving for retirement to protect their pension pots from criminals and 'negligent trustees'.

Wednesday, February 6, 2019

Other

Budget Report

Information and links about the budget report

Saturday, March 23, 2019

Autumn Statement

Information and links about the autumn statement

Saturday, March 23, 2019

Diary

Last minute planning for tax year 2018/19

The final deadline of 5th April 2019 is relevant to individuals who have not considered year end tax planning issues. These issues include:

  • utilising your annual capital gains tax exemption
  • utilising your annual inheritance tax exemption for gifts
  • utilising your annual Individual Savings Account investment limit (ISA)
  • making additional pension contributions for 2018/19.

Please do get in touch if you would like any further advice on these or any other issues.

Automatic interest is charged where PAYE tax, Student loan deductions, Class 1 NI or CIS deductions for 2018/19 are not paid by today

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.

Penalties may also apply if any payments have been made late throughout the tax year.

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

This deadline is relevant to small employers and contractors 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.

Postal payments for month/quarter ended 5 April should reach your HMRC Accounts Office by this date.

Where the payment is made electronically the deadline for receipt of cleared payment is Thursday 18th April 2019 unless you are able to arrange a 'Faster Payment' to clear on or by Monday 22nd April. In year interest will be charged if payment is made late. Penalties also apply.

PAYE, Student loan and CIS deductions are due for the month to 5th April 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.

Postal payments for month/quarter ended 5 April should reach your HMRC Accounts Office by this date.

Where the payment is made electronically the deadline for receipt of cleared payment is Thursday 18th April 2019 unless you are able to arrange a 'Faster Payment' to clear on or by Monday 22nd April. In year interest will be charged if payment is made late. Penalties also apply.

Deadline for employers' final PAYE return to be submitted online for 2018/19

This is the last day by which your final Full Payment Summary (FPS) for the 2018/19 tax year should be sent to HMRC.

You will not be able to file an FPS relating to 2018/19 after 19th April. If you need to make an amendment or correction to the details reported on a 2018/19 FPS you will need to submit an Earlier Year Update (EYU).

Please be aware that if we deal with the payroll on your behalf that we will ensure that this matter is dealt with on a timely basis.

Deadline for submitting P46(car) for employees whose car/fuel benefits changed during the quarter to 5 April 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 May 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 May 2019. In year interest will be charged if payment is made late. Penalties also apply.

Deadline for forms P60 for 2018/19 to be issued to employees

This deadline is relevant to employers.

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 June 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 21st June 2019 unless you are able to arrange a 'Faster Payment' to clear on or by Saturday 22nd June.

Penalties apply if payment is made late.

Deadline for reaching a PAYE Settlement Agreement for 2018/19

This deadline is relevant for employers who wish to pay the tax and NI on benefits provided to their employees. Agreement must be reached with HMRC of the benefits and related liabilities which are not to be shown on the forms P11D by this date.

Please be aware that if we deal with the PAYE Settlement Agreement on your behalf that we will ensure this matter is dealt with on a timely basis.

Deadline for forms P11D and P11D(b) for 2018/19 to be submitted to HMRC and copies to be issued to employees concerned

This deadline is relevant to employers. Details of benefits and expenses provided to employees must be reported to HMRC on the relevant forms P11D. The P11D(b) form is used to calculate the Class 1A NI liability.

Please be aware that if we deal with the forms P11D on your behalf that we will ensure this matter is dealt with on a timely basis.

Deadline for employers to report share incentives for 2018/19

This deadline is relevant for companies who have reportable events for the tax year 2018/19.

Class 1A NIC due for 2018/19

This deadline is relevant for employers who have provided their employees with benefits for 2018/19. These benefits should have been reported by the 6th July and the amount of the Class 1A employer only NI liability due calculated on the form P11D(b). Where the payment is made electronically the deadline for receipt of cleared payment is 22nd July 2019. Interest will be charged if payment is made late. Penalties may also apply.

PAYE Student loan and CIS deductions due for the month to 5th July 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 July 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 April 2019 to 5th July 2019

This deadline is relevant to small employers and contractors 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 July 2019. In year interest will be charged if payment is made late. Penalties also apply.

Second payment on account 2018/19 due

This deadline is relevant to individuals who need to complete a self assessment tax return and make direct payments to HMRC in respect of their income tax, Class 4 NI, capital gains tax and High Income Child Benefit Charge liabilities.

The second payment on account in respect of income tax and any Class 4 NI is due for payment by 31st July 2019. Interest is charged on any late payments.

If we have already dealt 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 July 2019

p>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 August 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 August 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 month to 5th September 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 September 2019 unless you are able to arrange a 'Faster Payment' to clear on or by Sunday 22nd September 2019. In year interest will be charged if payment is made late. Penalties also apply.

Deadline for notifying HMRC of new sources of taxable income or gains or liability to the High Income Child Benefit Charge for 2018/19 if no tax return has been issued

This deadline is relevant to individuals who have not received a self assessment tax return for the year ended 5th April 2019 but who believe they have received income or capital gains which will result in a tax liability. This deadline is also relevant to individuals who are liable to the High Income Child Benefit Charge.

Individuals must notify HMRC of their liability so that a self assessment return can be issued in good time for the submission deadline of 31st January 2020.

If we have already dealt with this matter on your behalf you need take no action.

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.