Other News

Committee warns small businesses 'could pay heavy price' for MTD

The Economic Affairs Committee has warned HMRC that small businesses 'could pay a heavy price' for Making Tax Digital for VAT.

Wednesday, December 5, 2018

Leaving the EU with no deal

The government has published a collection of documents in preparation for the scenario of the UK leaving the EU without a Withdrawal Agreement a so called 'no deal' Brexit.

Wednesday, December 5, 2018

180,500 new homeowners benefit from stamp duty tax relief

According to statistics published by HMRC more than 180,500 first-time buyers have benefitted from First Time Buyers Relief.

Wednesday, December 5, 2018

Tax-free gifts to employees

Some employers may wish to give a small gift to their employees.

Wednesday, December 5, 2018

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which took effect from 1 December 2018.

Wednesday, December 5, 2018

Phishing tax refund email targets university students

HMRC has warned that university students are being bombarded with fake tax refund emails.

Wednesday, December 5, 2018

Inheritance Tax Review by Office of Tax Simplification

The Office of Tax Simplification has published the first of two reports on inheritance tax.

Wednesday, December 5, 2018

Budget 2018

The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018.

Tuesday, November 6, 2018

Personal tax changes - allowance and basic rate band increases

At the Budget, the Chancellor announced that increases to the personal allowance and basic rate band for 2019/20.

Tuesday, November 6, 2018

Capital allowances changes

A number of changes to capital allowances were announced at the Budget.

Tuesday, November 6, 2018

Entrepreneurs' Relief changes

The government announced, as part of the Budget, that some changes are being made to the rules for Entrepreneurs' Relief .

Tuesday, November 6, 2018

Making Tax Digital for VAT

HMRC has opened the Making Tax Digital for VAT public pilot.

Tuesday, November 6, 2018

New guidance for employers

HMRC has issued the October 2018 Employer Bulletin.

Tuesday, November 6, 2018

HMRC countdown: file your tax return

With less than 100 days until the self assessment tax return deadline of 31 January 2019, HMRC is urging taxpayers to complete their tax returns early.

Tuesday, November 6, 2018

Further contingency planning guidance on a 'No deal Brexit'

HMRC has issued a Partnership Pack to help businesses carry out contingency planning.

Tuesday, November 6, 2018

Autumn Budget 2018

The Chancellor Philip Hammond presented his Autumn Budget on Monday 29 October 2018.

Tuesday, October 30, 2018

UK Budget date announced

The Chancellor of the Exchequer, Philip Hammond, has announced that the Budget will take place on Monday 29 October.

Thursday, October 4, 2018

Self-employed Class 2 National Insurance will not be scrapped

The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019.

Thursday, October 4, 2018

'No deal' Brexit guidance and small business survey

The government has issued further notices with the aim of helping both businesses and individuals to prepare in the event of a UK-EU agreement not being realised.

Thursday, October 4, 2018

Deadline for 'paper' self assessment tax returns

For those individuals who have previously submitted 'paper' self assessment tax returns the deadline for the 2017/18 return is 31 October 2018.

Thursday, October 4, 2018

Deliberate tax defaulters

HMRC has published an updated list of deliberate tax defaulters.

Thursday, October 4, 2018

Genuine HMRC contact and recognising phishing emails and texts

HMRC has updated their guidance.

Thursday, October 4, 2018

HMRC identify record £15.6 million minimum wage underpayments

HMRC has announced that they achieved record enforcement results this year.

Thursday, October 4, 2018

HMRC warning: time to declare offshore assets

HMRC is warning that taxpayers could face penalties if they fail to declare their income on foreign assets before new 'Requirement to Correct' legislation comes into force.

Thursday, September 6, 2018

Stamp duty cut

According to the latest statistics 121,500 first-time buyers have saved a total of £284 million.

Thursday, September 6, 2018

Software suppliers - Making Tax Digital for VAT

HMRC is working with more than 150 software suppliers who have said they will provide software for Making Tax Digital for VAT (MTDfV) in time for April 2019.

Thursday, September 6, 2018

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 September 2018.

Thursday, September 6, 2018

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin.

Thursday, September 6, 2018

'No deal' Brexit guidance

The government has issued some 'no deal' Brexit technical notices, with the aim of helping both businesses and individuals to prepare in the event of a UK-EU agreement not being realised.

Thursday, September 6, 2018

Bank of England raise interest rate

The Bank of England has raised the interest rate from 0.5% to 0.75%.

Thursday, August 2, 2018

Making Tax Digital for VAT

HMRC has published further information on Making Tax Digital for VAT (MTDfV).

Thursday, August 2, 2018

Scotland introduces relief for first time buyers

First-time buyers in Scotland will be helped to purchase their first home through a new tax relief which applies to Scottish Land and Buildings Transaction Tax (LBTT).

Thursday, August 2, 2018

Next round of tax draft tax legislation published

The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation.

Thursday, August 2, 2018

One million couples still eligible for tax boost

HMRC has highlighted that three million UK couples have already taken advantage of Marriage Allowance but a million more are still eligible for the tax break.

Thursday, August 2, 2018

Consultation on pensions cold calling ban

HMRC has launched a consultation on draft proposals to ban pensions cold calling.

Thursday, August 2, 2018

Use Tax-Free Childcare over the summer holidays

The Government is reminding 'stressed out parents' that help may be available for childcare costs during the summer holidays.

Thursday, August 2, 2018

Workers' rights for Pimlico Plumber

A plumber has won a legal battle for working rights in a Supreme Court ruling.

Wednesday, July 4, 2018

Latest guidance for employers

HMRC have issued the latest version of the Employer Bulletin.

Wednesday, July 4, 2018

UK 'tax gap' falls to 5.7%

HMRC has confirmed that the tax gap for 2016/17 has fallen to 5.7%.

Wednesday, July 4, 2018

HMRC extends RTI late filing easement until April 2019

HMRC has extended the payroll Real Time Information (RTI) late filing easement until April 2019.

Wednesday, July 4, 2018

HMRC saves public £2.4M by stopping fraudsters

HMRC has announced that it has saved the public over £2.4m by tackling fraudsters that trick them into using premium rate phone numbers for services that HMRC provide for free.

Wednesday, July 4, 2018

VAT reverse charge for construction services consultation

HMRC proposes to introduce new VAT rules for construction services which are subject to consultation.

Wednesday, July 4, 2018

Enterprise Management Incentive continues

It has previously been reported that the Enterprise Management Incentive scheme State Aid approval lapsed on 6 April 2018.

Wednesday, July 4, 2018

Tax refund scams warning from HMRC

HMRC has issued a warning to taxpayers regarding the latest tax refund scams.

Monday, June 4, 2018

200,000 receive back pay as HMRC enforce National Minimum Wage

BEIS and HMRC are urging underpaid workers to complain about National Minimum Wage and National Living Wage underpayments.

Monday, June 4, 2018

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 June 2018.

Monday, June 4, 2018

Universal Credit and self employment

The government has published a report, Universal Credit: supporting self employment which considers the issues faced by self employed claimants.

Monday, June 4, 2018

State Aid approval granted for the Enterprise Management Incentive

It has previously been reported that the Enterprise Management Incentive State Aid approval lapsed on 6 April 2018.

Monday, June 4, 2018

Wales to set devolved income tax rates

From April 2019, the National Assembly for Wales will be able to vary the rates of income tax payable by Welsh taxpayers.

Monday, June 4, 2018

Changing priorities at HMRC

HMRC has shared a statement about how they are prioritising change in the department and as a result some parts of MTD will be delayed.

Tuesday, May 8, 2018

GDPR compliance deadline looms

The Federation of Small Businesses (FSB) is warning small and medium-sized enterprises that time is running out for them to prepare.

Tuesday, May 8, 2018

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.

Tuesday, May 8, 2018

EMI options may not qualify for tax relief

The Enterprise Management Incentive (EMI) allows selected employees (often key to the employer) to be given the opportunity to acquire a significant number of shares in their employer through the issue of options.

Tuesday, May 8, 2018

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.

Tuesday, May 8, 2018

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.

Tuesday, May 8, 2018

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.

Tuesday, May 8, 2018

GDPR

New data protection rules from General Data Protection Regulation (GDPR) will replace the Data Protection Act in the UK from 25 May 2018.

Wednesday, April 4, 2018

Employer-Supported Childcare gets a reprieve

Many employers help employees with childcare costs, often by providing childcare vouchers by way of salary sacrifice.

Wednesday, April 4, 2018

Making Tax Digital for VAT from April 2019

The regulations to bring into force Making Tax Digital for VAT (MTDfV) are now law.

Wednesday, April 4, 2018

Welsh Land Transaction Tax introduced

From 1 April 2018, Land Transaction Tax (LTT) will replace Stamp Duty Land Tax (SDLT).

Wednesday, April 4, 2018

Income tax changes from 6 April 2018

The new tax year will bring in new income tax rates and allowances.

Wednesday, April 4, 2018

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.

Wednesday, April 4, 2018

Spring Statement announces consultations

Chancellor Philip Hammond delivered his Spring Statement on Tuesday 13 March 2018.

Wednesday, April 4, 2018

Spring Statement 2018

The Chancellor Philip Hammond presented his first Spring Statement on Tuesday 13 March 2018.

Tuesday, March 13, 2018

Tribunal rules BBC journalist is caught by 'IR35' legislation

A First Tier Tribunal has ruled that a presenter paid via a personal service company was caught by the IR35 rules resulting in additional tax and national insurance contributions being payable.

Monday, March 5, 2018

Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 March 2018.

Monday, March 5, 2018

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

Following the announcement of new income tax rates for Scottish taxpayers for 2018/19, the government is looking at ways of addressing the issue of the tax relief due on Scottish taxpayers' pension contributions.

Monday, March 5, 2018

Minimum Wage increases

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

Monday, March 5, 2018

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.

Monday, March 5, 2018

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.

Monday, March 5, 2018

HMRC rejected Self Assessment expenses and excuses

HMRC have released the latest list of imaginative excuses made by individuals who failed to submit their self assessment return by 31 January deadline in 2017.

Monday, February 5, 2018

Tax-free childcare roll out

The implementation of Tax-Free Childcare, the new government scheme to help working parents with the cost of childcare, is being rolled out to eligible parents in stages.

Monday, February 5, 2018

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'.

Monday, February 5, 2018

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.

Monday, February 5, 2018

What will the Spring Statement bring?

We had two Budgets in 2017 and the Spring Statement is planned for Tuesday 13 March.

Monday, February 5, 2018

Scotland revise income tax bands

Derek Mackay, Scottish Finance Secretary, has made a change to the proposed Scottish income tax bands for 2018/19.

Monday, February 5, 2018

Scottish Draft Budget

Finance Secretary Derek Mackay delivered the 2018/19 Scottish Draft Budget on Thursday 14 December 2017 setting out the Scottish government's financial and tax plans.

Friday, January 5, 2018

Land and Buildings Transaction Tax and First-Time Buyer Relief

The Scottish government announced that they will introduce a new Land and Buildings Transaction Tax relief for first-time buyers.

Friday, January 5, 2018

Welsh Land Transaction Tax

The Welsh Parliament have announced changes to proposed rates and bands for Land Transaction Tax which is to be introduced in Wales from 1 April 2018.

Friday, January 5, 2018

Proposals to extend pensions auto enrolment to younger workers

The government has announced proposals to extend pensions auto enrolment to include younger workers and to amend the way in which contributions are calculated.

Friday, January 5, 2018

Paying HMRC? Not at the post office or by credit card

With many individuals having tax payments to make at the end of this month it is important to be aware that HMRC have announced that they will no longer accept payments made at the Post Office or by credit card.

Friday, January 5, 2018

HMRC warning about iTunes gift card scam

HMRC are urging people to stay safe from a phone scam that is conning elderly and vulnerable people out of thousands of pounds.

Friday, January 5, 2018