"> December 2018 - IAB | International Association of Bookkeepers

December 2018

HMRC Talking Points

HMRC’s regular Talking Points webinars provide information, guidance and tips to help you understand tax issues. Forthcoming ones include: Income from property for individual landlords – common themes in relation to deductions and reliefs: This webinar will be concentrating on 3 areas that generate regular contact with HMRC: restricting finance cost relief for individual landlords replacement of domestic items relief overview of what

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HMRC Employer Bulletin: December 2018

HMRC publishes the employer bulletin 6 times a year, giving employers and agents the latest information on topics and issues that may affect them. You can download and read the employer bulletin here: https://www.gov.uk/government/publications/employer-bulletin-december-2018. The employer bulletin is only available online. You can register for HMRC’s employer email alert service to receive emails from HMRC which tell you when the latest issue is

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HMRC Agent Update – Issue 69

HMRC’s Agent Update 69 is available now and contains a variety of articles and updates. The latest issue has information about the changes to the law for company directors and Self Assessment, and how to register with HMRC to use the online service to send your clients’ 2019-20 annual tax on enveloped dwellings return. It also includes guidance on the new entitlement to

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HMRC provide further information on the new Agent Services Account

HMRC have recently received a number of queries regarding the new Agent Services Account and the process for agents signing clients up to Making Tax Digital (MTD). HMRC are working on guidance products for agents, including an Agent Services Guide and Agents Checklist for MTD, which will be available early 2019. However, in the meantime they have provided some further information which can be viewed here: Agent Services

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Brexit to delay full roll-out of MTD

HMRC is delaying the full roll-out of Making Tax Digital (MTD) while the UK makes preparations to leave the EU in 2019. MTD for individuals was scheduled to take effect from 2020. However, the government has revealed that the plans have been put on hold to allow HMRC to focus on the UK’s Brexit preparations. In a letter to tax

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Taxpayers treated unfairly by HMRC, say peers

Recent powers provided to HMRC undermine the rule of law and hinders taxpayers’ access to justice. That was the conclusion of the Economic Affairs Committee’s report ‘HMRC Powers: Treating Taxpayers Fairly’; the second report from the Finance Bill Sub-Committee’s inquiry into the draft Finance Bill 2018. The report states: “In recent years, HMRC has been granted greater powers to tackle

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Bring in new tax on online retailers, says Sports Direct boss

Retail tycoon Mike Ashley has called for a new tax on revenues from online retailing to help revive ailing town centres. Appearing before MPs, the Sports Direct founder said any retailer that makes more than 20% of its sales online should be subject to an additional tax as the “internet is killing the High Street”. Ashley said a tax would

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IHT increase ‘by the back door’

A leading advisory firm is warning that, from April 2019, relatives inheriting estates worth more than £300,000 face a new probate stealth tax as the Government looks at ways of raising more money from estates of the deceased. Bishop Fleming, which delivers probate services as well as accounting advice to businesses, says that the Government is ignoring objections to its

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Young need convincing over apprenticeships

Young people rather than older workers are the ones who need to be convinced that apprenticeships are the best route to good jobs, says a new poll from YouGov. Older people surveyed were much more likely to regard apprenticeships as the best chance for school leavers to find a rewarding career. Among 18 to 24 year-olds, some 34% said going

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