Spring Statement 2019
March 2019
Amidst all the Brexit debates, the Chancellor Philip Hammond presented his second Spring Statement on Wednesday 13 March 2019. In his speech the Chancellor provided an update on the economy…
HMRC advice - prepare for no deal
March 2019
HMRC is urging business owners to make sure they are ready for a potential no deal Brexit. Business owners are being urged to prepare now and take steps to ensure…
Start date looming for Making Tax Digital for VAT
March 2019
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 (MTD). He confirmed…
Advisory fuel rates for company cars
March 2019
New company car advisory fuel rates have been published which take effect from 1 March 2019. The guidance states: 'You can use the previous rates for up to one month…
Scottish income tax bands confirmed for 2019/20
March 2019
The Scottish Parliament has confirmed the income tax bands that will apply to Scottish taxpayers for 2019/20. The bands confirm the announcement made in the Draft Scottish Budget last December.…
Minimum Wage increases
March 2019
The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not…
Pensions auto enrolment contributions to rise
March 2019
Minimum pension contributions are set to increase from 6 April 2019: Duration Employer minimum (%) Total minimum contribution (%) Current contributions 2 5 6 April 2019 onwards 3 8 The…
Tax efficient investments ahead of the tax year end
March 2019
With the end of the tax year looming there is still time to save tax for 2018/19. Make full use of your ISA allowance - ISAs can offer a useful…
Latest update for employers
March 2019
HMRC has issued Employer Bulletin (February 2019) which includes a number of interesting articles on: End of year reporting Reporting expenses and benefits Student Loan notices and a new type…
Households with landlines should be vigilant
March 2019
Over recent years HMRC has increasingly cracked down on email and SMS phishing, and a number of criminals are turning to cold-calling publicly available phone numbers to steal money from taxpayers.…
Businesses urged to prepare for post-Brexit Customs Declarations
February 2019
HMRC is urging VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. In a letter sent to 145,000 affected businesses, HMRC explains…
MTD for VAT - pilot extended to all eligible businesses
February 2019
HMRC has extended its Making Tax Digital for VAT (MTDfV) pilot scheme to all eligible businesses. For most businesses, compliance with the regulations is mandated for VAT return periods beginning…
HMRC's Voice ID database
February 2019
Since 2017, HMRC has captured millions of callers' voice data on its Voice ID system by encouraging the caller to say a key phrase instead of the conventional password to…
Spring Statement date announced
February 2019
The Chancellor of the Exchequer, Philip Hammond, has announced that the government will respond to the forecast from the Office for Budget Responsibility (OBR) in the Spring Statement on Wednesday…
'Unbelievable excuses' for late filing of tax returns
February 2019
HMRC has revealed some of the most 'bizarre excuses' taxpayers have given for failing to file their self assessment tax return on time. Excuses included 'I'm too short to reach…
Protect your pension pots
February 2019
The Insolvency Service has urged individuals saving for retirement to protect their pension pots from criminals and 'negligent trustees'. Research carried out by the Service found that criminals use a…