Preparing for Making Tax Digital for VAT
Making Tax digital is a key part of the government’s plans to make it easier for individuals and businesses to manage their tax affairs. The first stage of the government’s…
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HMRC identify record £15.6 million minimum wage underpayments
HMRC has announced that they achieved record enforcement results this year, identifying £15.6million of minimum wage underpayments. The number of workers identified as underpaid was double that in 2016/17 and…
HMRC has published an updated list of deliberate tax defaulters
HMRC has published an updated list of deliberate tax defaulters. The list includes details of taxpayers who have incurred a penalty because they have either: deliberately provided one or more…
Deadline for ‘paper’ self assessment tax returns
For those individuals who have previously submitted ‘paper’ self-assessment tax returns the deadline for the 2017/18 return is 31 October 2018. Returns submitted after that date must be submitted electronically…
‘No deal’ Brexit guidance and small business survey
Following the issue of some ‘no deal’ Brexit technical notices, in August, the government has issued further notices with the aim of helping both businesses and individuals to prepare in…
Self-employed Class 2 National Insurance will not be scrapped
The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019. Class 2 NICs are currently paid at a rate of…
UK Budget date announced: 29 October 2018
The Chancellor of the Exchequer, Philip Hammond, has announced that the Budget will take place on Monday 29 October. Breaking with the tradition of a Wednesday in November, perhaps in…
Requirement to Correct – ACT NOW
30 September 2018 – a vitally important date for all those who have previously undisclosed offshore income and gains. This is the date by which a full disclosure of any such…
Bank of England Raise Interest Rate
The Bank of England has raised the interest rate from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009….
Making Tax Digital for VAT
HMRC has published further information on Making Tax Digital for VAT (MTDfV). The VAT notice sets out some further details of the MTDfV regime, which will ultimately require taxpayers to…
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