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Employer Bulletin – Latest Guidance

31st July 2019 | Written by In Accountancy | Categories : Accounts, Business, CASH, GDPR, HMRC, HMRC, News, VAT
Employer Bulletin – Latest Guidance

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 using Tax-Free Childcare to make Read the full article…


Consultation on the Operation of Insurance Premium Tax

26th July 2019 | Written by In Accountancy | Categories : Accounts, Budget, Business, CASH, HMRC, HMRC, News, Tax
Consultation on the Operation of Insurance Premium Tax

HMRC has launched a consultation to review the extent to which the emerging practices are leading to ‘unfair tax outcomes’ in the administration and collection of Insurance Premium Tax (IPT). HMRC’s consultation document states: ‘We have been made aware of business practices involving administration and arrangement fees which may be leading to unfair tax outcomes in the insurance industry.’ ‘This Read the full article…


Tax Gap Remains Low

15th July 2019 | Written by In Accountancy | Categories : Budget, HMRC, HMRC, News, Personal Tax, Tax
Tax Gap Remains Low

HMRC has published a report showing that the UK tax gap in 2017/18 is estimated to be £35 billion.  This is 5.6% of total theoretical tax liabilities, and a small increase of 0.1% from 5.5% in 2016/17. HMRC therefore secured 94.4% of all tax due. The tax gap is the difference between the amount of tax that should be paid Read the full article…


MTD for VAT Latest

11th July 2019 | Written by In Accountancy | Categories : Business, HMRC, HMRC, Limited Companies, Making Tax Digital, Making Tax Digital, News, VAT
MTD for VAT Latest

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the rules, businesses with a taxable turnover above the VAT threshold(currently £85,000)must keep digital records for VAT purposes and provide their VAT return information to HMRC using compatible software. The rules have effect from 1 Read the full article…


HMRC Taskforce Tackles Dishonest Dog Breeders

6th July 2019 | Written by In Accountancy | Categories : Business, CASH, HMRC, HMRC, News
HMRC Taskforce Tackles Dishonest Dog Breeders

A taskforce has recovered more than £5 million by tackling dishonest dog breeders selling pups on the black market. HMRC set up the taskforce in October 2015 after discussions with animal welfare groups that were concerned that tens of thousands of puppies were being reared in unregulated conditions and sold illicitly every year. The taskforce uncovered fraudsters selling puppies on Read the full article…


Forms P11D – Reporting Employee Benefits

4th July 2019 | Written by In Accountancy | Categories : Business, CASH, HMRC, HMRC, Tax
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 is not left to the Read the full article…


OTS Calls For Simplifying Everyday Tax For Smaller Businesses

3rd July 2019 | Written by In Accountancy | Categories : Business, CASH, HMRC, HMRC, Limited Companies, Tax
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 in its early days to Read the full article…


Tax Free Childcare – what you need to know

26th June 2019 | Written by In Accountancy | Categories : HMRC, local interest, News, Personal Tax, Tax
Tax Free Childcare – what you need to know

Tax Free Childcare is something which all new parents and parents to be should be aware of. For many working parents, childcare costs can play a large role when planning a return to work, or considering their career options and working hours. As traditional childcare vouchers have now closed to new entrants, some working parents and parents to be are concerned Read the full article…


When a car is not a car (for VAT purposes)

24th June 2019 | Written by In Accountancy | Categories : Accounts, Business, HMRC, Limited Companies, News, Tax, VAT
When a car is not a car (for VAT purposes)

For VAT purposes, it’s important to know the difference between cars and other vehicles. This is because in most cases, VAT-registered businesses can’t reclaim the VAT when they buy a car. But they may be able to reclaim the VAT when they buy a commercial vehicle, motorcycle or motor home.


Cycle to work scheme – updated June 2019 to include E-Bikes

19th June 2019 | Written by In Accountancy | Categories : Accounts, Business, Client Focus, HMRC, Limited Companies, Miscellaneous, News, Personal Tax, Tax
Cycle to work scheme – updated June 2019 to include E-Bikes

As cycling continues to grow in popularity with e-bikes leading the way in getting more and more people using pedal power, the government has at last lifted its cap on the value of bikes and associated safety equipment which can be bought through a cycle to work scheme. In the period from 2013-2017 only 4% of people cycled to work, Read the full article…