HMRC warning: time to declare offshore assets
September 2018
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. HMRC is urging…
Stamp duty cut
September 2018
According to the latest statistics 121,500 first-time buyers have saved a total of £284,000,000 following the introduction of a relief for first-time buyers under the Stamp Duty Land Tax rules…
Software suppliers - Making Tax Digital for VAT
September 2018
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. From 1…
Advisory fuel rates for company cars
September 2018
New company car advisory fuel rates have been published which take effect from 1 September 2018. The guidance states: 'You can use the previous rates for up to one month…
HMRC latest guidance for employers
September 2018
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on: Reporting your payroll information accurately and on time Irregular payments…
'No deal' Brexit guidance
September 2018
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…
Bank of England raise interest rate
August 2018
The Bank of England has raised the interest rate from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009.…
Making Tax Digital for VAT
August 2018
HMRC has published further information on Making Tax Digital for VAT (MTDfV). The VAT notice sets out some further details of the MTDfV regime, which will ultimately require taxpayers to…
Scotland introduces relief for first time buyers
August 2018
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). According to the…
Next round of tax draft tax legislation published
August 2018
The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation, and ‘continues the government’s commitment to a competitive and fair tax system’. The draft…
One million couples still eligible for tax boost
August 2018
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. The Marriage Allowance allows…
Consultation on pensions cold calling ban
August 2018
HMRC has launched a consultation on draft proposals to ban pensions cold calling. Under the proposals, unsolicited marketing calls relating to pensions could be banned, alongside cold calls that offer…
Use Tax-Free Childcare over the summer holidays
August 2018
The Government is reminding ‘stressed out parents’ that help may be available for childcare costs during the summer holidays. According to a YouGov poll, 31% of parents feel stressed trying…