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Comments Off on HMRC Error Hits Early-Paying Self-Assessment Taxpayers

HMRC Error Hits Early-Paying Self-Assessment Taxpayers

HMRC Error Hits Early-Paying Self-Assessment Taxpayers

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

Comments Off on Automatic Enrolment Minimum Contributions Increase On 6 April 2019

Automatic Enrolment Minimum Contributions Increase On 6 April 2019

Automatic Enrolment Minimum Contributions Increase On 6 April 2019

Employer duties By law, the total minimum contributions your organisation must pay into its staff workplace pension schemes increase on 6 April 2019. You need to be ready for this increase, and make sure you’re set up to pay the correct amounts into staff pension schemes – so you comply with the law, and your … Continued

Comments Off on UK “No Deal” Brexit Planning Checklist

UK “No Deal” Brexit Planning Checklist

UK “No Deal” Brexit Planning Checklist

There is still uncertainty around what Brexit will mean and planning for a “No Deal” scenario seems sensible right now. The Government has published guidance: “UK government’s preparations for a no deal scenario” and it continues to provide updates on how to prepare for the event. See: https://www.gov.uk/government/publications/uk-governments-preparations-for-a-no-deal-scenario Businesses that buy and sell from the … Continued

Comments Off on Tax Cards 19/20

Tax Cards 19/20

Tax Cards 19/20

To download our tax cards for 2019/20 please follow this link –  BWM Tax cards 19/20

Comments Off on New Payslip Rules From 6 April 2019

New Payslip Rules From 6 April 2019

New Payslip Rules From 6 April 2019

From the 6th April 2019 there will be new rules which will change how you issue payslips to workers. Previously, only your staff classed as employees needed to get written itemised payslips. You didn’t need to itemise payslips for any staff classed as workers. The difference between employees and workers An employee is someone who … Continued

Comments Off on Partners Hit By Avoidable ISA Tax Charge

Partners Hit By Avoidable ISA Tax Charge

Partners Hit By Avoidable ISA Tax Charge

An unnecessary tax charge on inherited ISAs could be resulting in thousands of bereaved partners missing out on a tax break, according to research. Introduced in 2015, the additional permitted subscription is available to the spouse or civil partner of an ISA holder who has died. The subscription provides an extra ISA allowance to the … Continued

Comments Off on Auto-enrolment Fines Rise 146%

Auto-enrolment Fines Rise 146%

Auto-enrolment Fines Rise 146%

Fines issued to employers that fail to comply with their auto-enrolment responsibilities have more than doubled over the last two years, a report from the Pensions Regulator shows. In 2017/18, there were 36,137 fines issued to employers for not complying with the requirements of auto-enrolment – up from 14,707 such penalties in 2016/17. The Pensions … Continued

Comments Off on ‘Our Liverpool’ Grant Programme 2019/21

‘Our Liverpool’ Grant Programme 2019/21

‘Our Liverpool’ Grant Programme 2019/21

Liverpool City Council have announced that the opening date of the new two-year Our Liverpool Grant Programme 2019/21 is Monday 4th February with a closing date of midday Monday 4th March. Once the Grant is ‘live’, the Application Pack and Guidance document will be available to download via the Liverpool City Council webpage link: https://liverpool.gov.uk/business/finance-funding-and-grants/community-funding-and-grants/ … Continued

Comments Off on Accounting Changes Affecting Gift Aid Payments From Charity Trading Subsidiaries

Accounting Changes Affecting Gift Aid Payments From Charity Trading Subsidiaries

Accounting Changes Affecting Gift Aid Payments From Charity Trading Subsidiaries

The Financial Reporting Council (FRC) has issued FRS 102 amendments which will be mandatory for all accounting periods commencing on or after 1 January 2019 therefore affecting charities with year-end of 31 December 2019 onwards.  As this is a change in accounting standard, this is also likely to require a prior year adjustment in the … Continued

Comments Off on Making Tax Digital for VAT: Partnerships and Flat Rate Scheme Can Join Pilot

Making Tax Digital for VAT: Partnerships and Flat Rate Scheme Can Join Pilot

Making Tax Digital for VAT: Partnerships and Flat Rate Scheme Can Join Pilot

Partnerships and those on the flat rate scheme for small businesses can now sign up to join the Making Tax Digital for VAT pilot. The move means that sole traders, partnerships or those that currently submit the VAT Return for a limited company are now in scope for the pilot, provided they use a standard … Continued