Draft legislation released for consultation on 18 July indicates that business and individual taxpayers will be required to provide more information to HMRC in the next few years. It is proposed that from 2025/26, employers will be required to provide more detailed information on employee hours worked via real time information (RTI) PAYE reporting. The…
Tag Archives: HMRC
03
Aug
Aug
From 31 May 2023, VAT registered businesses can set up a payment plan online if they owe less than £20,000 of VAT. An eligible VAT registered business can set up a VAT payment plan online if it: has filed its latest VAT return; owes £20,000 or less; is within 28 days of the payment deadline;…
27
Jul
Jul
From the 2023/24 tax year onwards, the self assessment (SA) threshold for taxpayers taxed through PAYE only, will rise to £150,000. However, the threshold for the 2022/23 tax year, remains unchanged at £100,000. This means that if a taxpayer is taxed through PAYE only, and their income exceeds £100,000, they will still need to submit…
10
May
May
As well as moving more and more employer returns online HMRC have announced that they will be phasing out paper self-assessment tax returns and encouraging individuals to file online. Individuals under the age of 70 within self-assessment will no longer receive a paper form through the post or be able to download a form from…
Blog, Job Retention Scheme
Coronavirus Job Retention Scheme – everything you need to know to make a claim
13
May
May
On 20th March, the UK Government announced that they’d be forming a reimbursement scheme for employees who have been unable to work due to the impact of Coronavirus. That scheme is called the Coronavirus Job Retention Scheme, and is now ready for Employers who wish to make a claim for furloughed workers. This blog covers…
Blog, Business News, Tourism
The effect of Brexit on recruitment in the UK tourism industry, and how you can prepare
16
Jan
Jan
The tourism industry is vital to the UK economy. Tourism is a major contributor to employment across the country, working hand in hand with a number of different industries from entertainment to travel to retail. Visit Britain estimates that by 2025, the UK will have a tourism industry worth over £257 billion. That being said,…
03
Jun
Jun
COMPANY OWNED VEHICLES HM Revenue and Customs have announced revised tax free advisory fuel rates from 1 June 2019 which may be paid for business journeys in a car owned by the business.  Rates for the previous quarter are shown in brackets. Engine size Petrol Diesel LPG 1,400 cc or less 12p (11p) 8p (7p)…
01
May
May
If you would like further information there are webinars available from HM Revenue & Customs at https://www.gov.uk/guidance/help-and-support-for-making-tax-digital The webinars are on various dates throughout May. If you need any other assistance please contact us.
25
Mar
Mar
HM Revenue & Customs have extended the rules that previously applied to non UK residents in respect of UK residential property to UK commercial property also. This change to the rules means that from April 2019 all UK property disposals made by non-resident individual, whether directly or potentially indirectly through a company or trust, require…
22
Mar
Mar
Do you run a business? Are you aware of HMRC’s Making Tax Digital? Take our quick test to see if it applies to you
