Prior to the introduction of RTI, employers were required to complete an end-of-year checklist and declaration on form P35 and submit to HM Revenue and Customs. Under RTI this was replaced by the final full payment RTI submission which included a similar checklist and declaration. HM Revenue and Customs have recently announced that from 6 … Continued
Charity Commission launches tool for third parties to submit charity accounts
The Charity Commission has launched a digital service that allows a charity’s accountant or other nominated agent to submit accounts on behalf of their client charity once finalised. Filing online is a quick, easy process that enables a charity’s profile to be updated overnight. Charities must use the existing change your charity’s details service to … Continued
Genuine HMRC contact and recognising phishing emails
Phishing is the fraudulent act of emailing a person in order to obtain their personal/financial information such as passwords and credit card or bank account details. These emails often include a link to a bogus website encouraging you to enter your personal details. There is guidance available that explains how to recognise genuine contact from … Continued
Savers unaware of pension guidance service
More than half of over-40s don’t know whether they will be eligible for the government’s free pension guidance service, research by Partnership has found. Pension savers will have access to free and impartial guidance on how to benefit from the pension reforms that will be introduced in April 2015. However, Partnership’s survey of more than … Continued
Employees take advantage of flexible working
There is a high demand among employees for flexible working arrangements, research by the Centre for Economic and Business Research (Cebr) and Citrix has found. The research, which surveyed almost 1,300 employees in the UK, showed that flexible working arrangements such as flexi-time or working remotely are popular with most employees: 96% of respondents who … Continued
Government proposals to tackle late payment
Large companies could be forced to publish information about their payment practices, under government proposals designed to combat late payment. The measures would oblige large businesses and companies listed on stock markets to: issue quarterly reports on payment performance make public additional information about payment practices put payment information on their website. Companies would face … Continued
Businesses plan growth for 2015
Small businesses are planning growth in 2015 but many are still unaware of the finance options available to them, research by the British Business Bank has revealed. The research into more than 1,000 firms found that 46% are planning to expand their business over the next 12 months. The main reasons for obtaining finance were: … Continued
VAT Mini One Stop Shop (MOSS) Changes
What is happening? From 1 January 2015 the VAT rules for cross-border B2C supplies of ‘digital services’ (i.e. broadcasting, telecoms and e-services) will change. From that date, VAT must be accounted for in the member state where the customer normally lives, rather than where the supplier of the service is established. This means that sellers … Continued
IHT and Mixed Domicile Marriages / Civil Partnerships
The scope of inheritance tax (IHT) is determined by a person’s “domicile”. For those domiciled within the UK their worldwide assets are potentially liable to IHT and for those domiciled outside the UK the charge is restricted to the value of UK assets. Certain statutory provisions deem people who are domiciled outside the UK to … Continued
Mobile card payments boost business for SMEs
Latest news from The Telegraph New mobile payment services that combine card readers with smartphone apps could be opening up a wealth of opportunities for small-business owners. Every day, small independent traders in the UK are forced to turn away customers because they only accept payment in cash. For many of them, the prospect of … Continued