February 2017

HMRC Agent Update – Issue 58

HMRC has published the latest issue of its Agent Update. Some of the top articles included are: Research and Development – Read about the YouTube videos HMRC have produced to help you help your clients Apprenticeship Levy – Make sure your clients are ready for reporting the Apprenticeship Levy Construction Industry Scheme (CIS) Subcontractor Verifications – Read about the changes taking place from

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Scottish tax rates and thresholds from 6th April 2017

HMRC recently published the P9X, containing rates, thresholds and tax code increases required by employers and payroll providers, enabling them to prepare their payroll records and tax codes for the tax year commencing 6 April 2017. The Scottish income tax rates and thresholds shown in the P9X were those announced in the draft Scottish Budget in December 2016. However, these

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HMRC Talking Points sessions – February and March 2017

HMRC has arranged further Talking Points sessions. Please find further details of these online meetings below: Apprenticeship Levy – Information on when you need to pay the levy, how much you need to pay, reporting payment, apprenticeship levy funding and the digital apprenticeship service. Tuesday 14 February 1pm to 2pm     Register now for this meeting Copyright – Every business owns

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New IAB seminar announced!

The IAB has arranged the first in a series of seminars for 2017.  The seminar will cover topics including: Making Tax Digital, automatic enrolment, FRS 102 and 105 and much more. The event will take place in London on Thursday 18th May 2017 and is an excellent way to gain updates for your own business or the business you work

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SMEs disproportionately hit by financial pain

The number of British firms facing significant financial distress has risen for the 13th consecutive quarter, with SMEs bearing the brunt of the pain. Fourth-quarter data from insolvency experts Begbies Traynor shows that 276,518 businesses finished 2016 in a state of distress, an increase of 3% compared with the same period last year. The group’s Red Flag Alert, which monitors

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Late payment costs freelancers £16.5m a year

Freelancers are losing an estimated £16.5m each year because of the amount of time spent on chasing invoices for late payment, according to research from IPSE, the Association of Independent Professionals and the Self Employed. It also warns of continuing difficulties in communicating with HMRC. IPSE says a survey of more than 830 freelancers found they spent an average of

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Employers: Don’t risk your credit rating

Employers who ignore their automatic enrolment duties could find themselves with a County Court Judgement, The Pensions Regulator (TPR) has warned. The alert comes as TPR issues the latest update on its automatic enrolment enforcement activity. It shows the number of fines has again risen in proportion to the large number of employers now reaching their deadline to comply. The

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