Latest News for Business & Tax

A round up of topical news articles.

August 2019

Off-payroll rules for the private sector

The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector.

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Digital Services Tax

From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.

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Insolvency hierarchy changes

From 6th April 2020, insolvency legislation will be amended to move HMRC up the creditor hierarchy for the distribution of assets in the event of insolvency

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Private Residence Relief Changes

The Government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief.

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Working parents may be eligible for tax-free childcare this summer

The government is reminding working parents that they could ease this summer's childcare costs by using Tax-Free Childcare.

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VAT changes may cause construction chaos

The (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos.

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Wage growth at a high

Data published by (ONS) has revealed that UK wage growth increased to 3.6% in the year to may 2019, the highest rate since 2008.

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Updated guidance on spotting HMRC Scammers

HMRC has updated their list of examplesof websites,emails, letters, text messages, WhatsApp messages and phone calls used by scammers and fraudstersto obtain an individuals personal information.

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June 2019

OTS calls for simplifying everyday tax for smaller businesses

A report by the OTS calls on the government to prioritise 'long-standing concerns about the experience of smaller businesses'

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HMRC taskforce tackles dishonest dog breeders

a taskforce has recovered more than £5 Million by tackling dishonest dog breeders selling pup on the black market.

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Forms P11D - reporting employee benefits

The forms P11D for the year ended 5th April 2019, are due for submission to HMRC by 6th July 2019

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Welsh taxpayers income tax code mix-up

From April 2019, welsh taxpayers were assigned new income tax codes beginning with the letter 'C'

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Consultation on Companies House reforms

The Government has launched a consultation on proposed reforms at Companies House, including a 'major upgrade' to their register.

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Consultation on ancillary capital gains reliefs

A capital gains tax exemption applies when an individual disposes of a dwelling that has been used as their only or main residence.

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Advisory fuel rates for company cars

New Company car advisory fuel rates have been published which take effect from 1 June 2019.

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Non-compliance with minimum wage regulations

A recent Low Pay Commision report sets out its findings on the number of people being paid less than the statutory minimum wage.

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May 2019

Consultation on extension of IR35 Rules

HMRC has published guidance on the extension of the off-payroll working rules (also known as IR35) to the private sector.

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Government confirms implementation of pensions dashboards

The government has confirmed that the initiative to introduce a pensions dashboard will go ahead.

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'Springtime' tax scams target young people

HMRC has warned young people in the uk to 'stay vigilant in order to avoid falling victim of 'Springtime' tax refund scams.

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Latest guidance for employers

HMRC has issued the latest version of the employer bulletin.

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VAT fuel scale charges

HMRC has issued details of the updated VAT fuel scale charges which apply from the beginning of the next Prescribed VAT period.

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Money Laundering

HMRC has published a list of business that have not met their obligations under the money laundering regulations.

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'Flexible extension' to Article 50

Business groups, including the British chambers of commerce, have commented on the six-month 'flexible' extension to Article 50.

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Scottish Air Departure Tax plans further delayed

The scottish government has further delayed its plans to replace Air Passenger Duty (APD) with Air Departure Tax (ADT).

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