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Comments Off on EU VAT Refunds Before Brexit No-Deal

EU VAT Refunds Before Brexit No-Deal

EU VAT Refunds Before Brexit No-Deal

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

Comments Off on Making Tax Digital for VAT: One Month To Go

Making Tax Digital for VAT: One Month To Go

Making Tax Digital for VAT: One Month To Go

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

Comments Off on Government Launches Service To Prepare Firms For EU exit

Government Launches Service To Prepare Firms For EU exit

Government Launches Service To Prepare Firms For EU exit

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

Comments Off on Advisory Fuel Rate for Company Cars from 1 March 2019

Advisory Fuel Rate for Company Cars from 1 March 2019

Advisory Fuel Rate for Company Cars from 1 March 2019

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

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