MTD zero-hour is here. The moment has come: if your business has a taxable turnover above the VAT-registration threshold, which is currently £85,000, you’re now obliged to keep records in digital form and to file your VAT returns using HMRC-approved software. Software soft landing One concession made by HMRC is around the links between individual … Continued
The number of people starting apprenticeships has fallen by 26% since the Government’s reforms to the apprenticeship system, according to a report from the National Audit Office (NAO). In April 2017, the Department for Education (DfE) introduced several changes to the apprenticeships scheme, including a levy on large employers and a co-funding requirement from smaller … Continued
Affluent families in England and Wales face paying probate charges of up to £6,000 from this month after ministers confirmed it as a fee rather than a tax. Families have been used to paying flat fees of up to £215 to obtain the grant of probate needed in England and Wales to administer estates worth … Continued
The Government is considering introducing a new stamp duty surcharge, which is designed to clamp down on overseas wealth being used to buy homes in England. Ministers have expressed concerns that affluent foreign investors, particularly those buying properties in London, have been driving up house prices for domestic buyers. Figures from the Land Registry showed … Continued
BWM Chartered Accountants are hosting a Free Charity Spring Update Seminar on Tuesday 30 April from 9am. Full details are provided here Timings: 9am to 12noon Venue: The Quaker Meeting House, 22 School Lane, Liverpool City Centre, L1 3BT Complimentary breakfast pastries and drinks will be provided on arrival with a break for refreshments mid-morning. Booking is … Continued
If the UK leaves the EU without a deal many UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world. The VAT paid in other EU countries is often recoverable by VAT- registered businesses in the UK, who bought goods or services for … Continued
The first batch of VAT-registered businesses have less than a month to go until they enter into the Government’s Making Tax Digital (MTD) regime. All VAT-registered businesses turning over more than £85,000 will be mandated into MTD by 1 October 2019, with the majority of firms adopting the scheme by 1 June 2019. Firms with … Continued
The Government has launched a new website service to help businesses prepare for the UK’s exit from the EU later this month. ‘Prepare your business for leaving the EU’ is an online tool that provides information on specific rules and regulations, and aims to inform business owners of what is changing in their sector. The … Continued
These are the suggested reimbursement rates for employees’ private mileage using their company car from 1 March 2019. Where there has been a change the previous rate is shown in brackets. Engine Size Petrol Diesel LPG 1400cc or less 11p 7p (8p) 1600cc or less 10p 1401cc to 2000cc 14p 8p (10p) 1601 to … Continued
HMRC admitted an error which saw hundreds of early-paying taxpayers wrongly issued with late-payment notices before the deadline for self-assessment tax returns. The deadline for 2017/18 self-assessment submissions and any tax owed came and went at midnight on 31 January 2019, with £100 penalties in place for not filing on time. However, 653 people who … Continued
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