Archive for December, 2015

HMRC streamlines SME tax portals

Wednesday, December 9th, 2015

  At the end of a company’s tax year two returns have to be made: Full “statutory” annual accounts, and Company Tax Return These returns have to be submitted by a specific deadline. This job has been made somewhat easier by HM Revenue & Customs and Companies House have streamlining their services and made them available […]


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Tax returns to be quarterly for landlords and self-employed

Wednesday, December 9th, 2015

  In March of this year David Gauke, Financial Secretary to the Treasury under the Coalition Government announced that as part of the Government’s vision to modernise the tax system, “tax returns will be replaced by digital tax accounts for millions of individuals and businesses. They will bring together each taxpayer’s details in one place, just […]


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Consultation on tax and NI alignment launched

Wednesday, December 9th, 2015

  The Office of Tax Simplification (OTS) has launched a consultation into the closer alignment of income tax and national insurance contributions. The OTS is gathering evidence of where the complexities lie in the current differences between income tax and NICs. For example: The definition of income, Employed or self-employed, Treatment of expenses and benefits Income tax […]


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Tax and tax credit rates and thresholds for 2016-17

Wednesday, December 9th, 2015

  HM Treasury have published the tax and NI thresholds and rates for 2016/2017. The publication also includes the rates for tax credit, van benefit and fuel benefit among others. This confirms no change to: The statutory payment (SSP/SMP/SAP/SPP/ShPP) rates The NI thresholds apart from the Upper Earnings Limit Well worthwhile downloading and saving!  


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RTI Removal of late reporting reason code E

Wednesday, December 9th, 2015

  There are currently 8 late reporting reasons under RTI. These are: HMRC permit “micro employers” to report late if they were an existing employer on 5 April 2014 and had fewer than 10 employees on 6 April 2015. Until 5 April 2016, they can choose to report monthly, on or before the last payday in […]


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Chancellor announces date for Budget 2016

Wednesday, December 9th, 2015

  A date to enter in your diary – Wednesday 16 March 2016 The Chancellor of the Exchequer, George Osborne, has announced that the government will publish its next Budget on that day. The Budget sets out the government’s plans for the economy based on the latest forecasts from the Office for Budget Responsibility, as well […]


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Bacs changes will affect Payment Services

Wednesday, December 9th, 2015

 Another date for your diary – June 2016 Changes which are being made by the internet community will affect access to Bacs via the Payment Services Website and Bacstel-IP. At the same time, BACS are making changes to their own security which will also affect users of their services. Whilst this may seem a long […]


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Counting down the days

Wednesday, December 9th, 2015

  Will they or won’t they? A third date for your diary – Wednesday 16 December 2015 It is on this day that the Scottish Government will announce what their plans are in respect of using their powers under the Scotland Act 2012 to very tax rates for Scottish taxpayers. Should they use their powers, they […]


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Consultation on companies to be excluded from the NICs Employment Allowance

Wednesday, December 9th, 2015

 Under proposals included in a consultation, which closes on 3 January, currently being carried out by HMRC, single-director companies will be excluded from claiming the National Insurance Contributions Employment Allowance from April 2016. The Technical Consultation on Companies Excluded from the NICs Employment Allowance is seeking comments on proposed draft secondary legislation which will introduce this […]


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Salary Sacrifice – where or when will it end?

Thursday, December 3rd, 2015

  In last week’s Spending Review and Autumn Statement there a is small but in my opinion not insignificant paragraph that expresses the concern the Government has with regards to the increase of salary sacrifice schemes. Indeed when I was setting up a salary sacrifice scheme several years ago an HMRC representative voiced an opinion as […]


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Tribunal Procedure: Use of Interpreters

Thursday, December 3rd, 2015

  Daniel Barnett’s Employment Law Bulletin Thanks to Rad Kohanzad of Serjeants’ Inn Chambers for preparing this case summary. Was it wrong for an employment tribunal to proceed with a hearing where an interpreter had previously been requested but did not attend? No, held the EAT in Hak v St Christopher’s Fellowship. The Claimant, who had […]


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Advisory Fuel Rates from 1 December 2015

Thursday, December 3rd, 2015

  These rates apply from 1 December 2015 for employer provided cars. Employers can use the previous rates for up to 1 month from the date the new rates apply. In other words, the new rates must be used from 1 January 2016 Follow this link for details on how the rates are calculated


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Pension Wise website – Treasury in Talks with the Industry on Improvements to Website.

Thursday, December 3rd, 2015

The Pension Wise website and how to improve it are the topic of discussions between the industry and the Treasury. Currently the average time spent on the site per visit is around three minutes, considerably less time than someone viewing the Scottish Widows site, where the average time spent is approximately 6 minutes. Pensions Development […]


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Tax Avoider Asked to Sign a Pledge

Thursday, December 3rd, 2015

  What would you do if HMRC wrote to you and asked you to pledge never again to engage in the activity of tax avoidance? Well, it has emerged that this is exactly what HMRC did to one such individual. “The letter was intended to make the recipient think more carefully about their tax arrangements, rather […]


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TUPE and Short Term Contracts

Thursday, December 3rd, 2015

  Thanks to Daniel Barnett’s Employment Law Bulletin for this article. Thanks to Dr John McMullen of Wrigleys Solicitors LLP for preparing this case summary Are events following a putative service provision change relevant in determining whether it was the client’s intention that the contract awarded be short term, and caught by the short term task […]


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Construction Industry Scheme Registrations Up Due to HMRC Delays

Thursday, December 3rd, 2015

 The Construction Industry Scheme (CIS) has seen a record number of builders register for gross payments. Why? Well, the cause is being attributed to the time it is taking for builders to receive their end-of-year tax refunds. Nixon William, a leading practice providing accountancy services for contractors and freelancers across the UK, obtained information under […]


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Taxpayers Money and How HMRC Spend it

Thursday, December 3rd, 2015

  Below are two articles that you can find on GOV.uk website. The articles are an insight on how the money allocated to HMRC is spent. HMRC spending over £25,000: October 2015 HM Revenue and Customs (HMRC) publishes details of all departmental spending over £25,000, on a monthly basis, as part of its commitment to transparency […]


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