May 2018

HMRC Talking Points sessions – June and July 2018

HMRC’s regular Talking Points meetings provide ongoing information, guidance and tips, helping you to understand tax issues. Please find further details of future scheduled online meetings below: How we tax waste is changing. Those previously not liable to Landfill Tax may now be under new legislation: New legislation introduced with effect from April 2018 has fundamentally changed the scope of the

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HMRC issues advisory fuel rates for company car users

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 June 2018. The new rates reflect the rise in fuel prices for higher emission cars. The new rates have slightly increased on the previous quarter rates, for petrol cars with engine of 1400cc or more and diesel cars with an engine size less than

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HMRC guidance updated: Criminal facilitation of tax evasion

HMRC have updated guidance on the corporate offence of failing to prevent tax evasion to include information about self-reporting a company or partnership. Corporate offences for failing to prevent criminal facilitation of tax evasion explains the laws introduced to encourage businesses to prevent their representatives helping clients evade tax and how the corporate offences work. The guidance and offences took

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HMRC gets £4 million windfall

UK corporation tax receipts have risen by 9.05% in the past 12 months, despite a decrease of 1% in the headline rate of corporation tax to 19% from 1 April 2017. This is an increase of £4,577m, according to leading accounting, tax and advisory practice Blick Rothenberg. Simon Wagman, a partner at the firm, said: “Despite the fact that headline

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Finance professionals falling victim to the ‘always-on’ work culture

A staggering 60% of professionals in the accounting sector confess to replying to work-related emails, or making work-related calls in their free time. What’s more, one in four (26.7%) admit that they check their phone for work purposes immediately before they go to sleep and as soon as they wake up. That’s according to the latest survey from CV-Library, a

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GDPR: ‘there’s no need to panic’

Small businesses in the UK have been told by Elizabeth Denham, the Information Commissioner, that “there is no need to panic” and that it is “here to help” when it comes to the General Data Protection Regulations (GDPR). Denham said that small firms that did not make extensive use of customer data would not come under close scrutiny. Instead, the

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HMRC opens consultation on reforming off-payroll working in the private sector

Controversial proposals for reforming the tax rules for those working for private sector businesses through intermediaries such as personal service companies (PSCs) have been published for consultation. The new rules could affect many thousands of people working through intermediaries such as PSCs, as well as the companies that engage them. The original off-payroll working rules (known as IR35) were introduced

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Automatic enrolment key messages

For new employers and start up businesses If your clients have recently become an employer, it’s important they don’t forget to tell The Pensions Regulator who their nominated key point of contact is. Research by The Pensions Regulator indicates that employers who nominate a key point of contact are more likely to comply with their duties and less likely to

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One in four SMEs admit to gender pay gap

Almost eight in 10 companies and public sector bodies pay men more than women, according to government figures, while research from Close Brothers Asset Finance reveals that a quarter of SMEs admit to a gender pay gap at their firm. The figure is consistent across all regions of the UK, except in London, where 36% of respondents answered ‘yes’ to

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