Business

13
Dec

Tax-free gifts for employees

  Tax-free gifts for employees Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A tax exemption is available which should help employers ensure that the benefits provided are exempt and do not result in a reportable employee benefit in

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13
Dec

BREXIT guidance: Leaving the EU with no deal

  Brexit guidance: Leaving the EU with no deal The government has published a collection of Brexit guidance documents in preparation for the scenario of the UK leaving the EU without a Withdrawal Agreement a so called ‘no deal’ Brexit. The Brexit guidance states: ‘The government does not want or expect a no deal scenario. However, it is the duty

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13
Dec

MTD warning: SMEs ‘could pay heavy price’

MTD warning: Small businesses ‘could pay heavy price’ for MTD, committee warns The Economic Affairs Committee has issued an MTD warning to HMRC, stating that small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTDfV). The Committee stated that HMRC has ‘failed to adequately support small businesses’ ahead of the introduction of MTDfV. MTDfV is generally set to

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6
Nov

The Autumn Budget 2018

  The Budget: Autumn 2018 The Chancellor Philip Hammond presented his second Autumn Budget on Monday 29 October 2018. In his speech he stated that ‘austerity is coming to an end – but discipline will remain’. He also promised a ‘double deal dividend’ if the Brexit negotiations are successful but stated that there may be a full-scale Spring Budget in

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6
Nov

‘No deal Brexit’ guidance for contingency

  ‘No deal Brexit’ guidance: Contingency planning HMRC has issued ‘no deal Brexit’ guidance in the form of a Partnership Pack to help businesses carry out contingency planning and to help their customers, members and clients to: think about how they will need to adapt their business to comply with new systems, processes and controls assess the impact of the

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6
Sep

Latest employers guidance from HMRC

  Latest employers guidance from HMRC HMRC has published the latest edition of the Employer Bulletin. This employers guidance for employers, and their agents, includes articles on: Reporting your payroll information accurately and on time Irregular payments and completion of Full Payment Submissions Starter Declaration on a Full Payment Submission (FPS) PAYE Settlement Agreements and Scottish Income Tax National Living

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6
Sep

Advisory fuel rates for company cars

  Advisory fuel rates for company cars 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 from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys

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6
Sep

Making Tax Digital for VAT – software suppliers

  Making Tax Digital for VAT – software suppliers 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 April 2019, businesses will be mandated to use the MTDfB system to meet their VAT obligations under MTDfV. Only businesses with

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6
Sep

‘No deal’ Brexit guidance

  ‘No deal’ Brexit guidance The government has issued some ‘no deal’ Brexit guidance in for the form of technical notices, with the aim of helping both businesses and individuals to prepare in the event of a UK-EU agreement not being realised. The government has published the first 25 notices. Brexit Secretary Dominic Raab was keen to emphasise that reaching

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3
Jul

Advisory fuel rate 2018/19 for company cars

  Advisory fuel rate 2018/19 for company cars These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 June 2018. Where there has been a change the previous rate is shown in brackets next to the advisory fuel rate 2018/19. Engine Size Petrol Diesel LPG 1400cc or less 11p   7p 1600cc or less

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