June 2019

Jun

HMRC Talking Points

HMRC’s regular Talking Points webinars provide information, guidance and tips to help you understand tax issues. Forthcoming ones include: PAYE Expenses & Benefits (P11D): This webinar has been designed to provide examples of the most common entries on the end-of-year expenses and benefits return. HMRC subject matter experts will be online during the webinar to take your questions. Thursday 20 June

Jun

Send in the clouds

Well over half (58%) of the UK’s SMEs have admitted they do not use cloud-based computing, according to new research by Close Brothers. That does, of course, mean 42% are! The reasons given for not using the cloud for business vary. Of those not using the technology, over a third (36%) do not trust that it is secure enough. A

Jun

HMRC to increase VAT on solar panels

The government is to increase the VAT rate for solar panels from 5% to 20%, the Independent newspaper has reported, describing it as a “a huge hike considering that Parliament has recently declared an environment and climate change emergency”. Other materials for renewable energy and battery storage products will also be subjected to the same VAT hike. Fossil fuels including

Jun

Data breach reports on rise after GDPR

Organisations operating in the UK are reporting data breaches in greater numbers than in many other parts of the EU, according to law firm Pinsent Masons. Figures provided to the firm show that, since the General Data Protection Regulation (GDPR) took effect in May 2018, the UK’s Information Commissioner’s Office (ICO) has received a monthly average of 1,276 data breach

Jun

CVAs leave 850 empty shops

More than 850 stores totalling six million sq ft of retail space has become vacant as a result of company voluntary arrangements (CVAs) in the past 18 months, new data from commercial property agency Colliers International has found. The analysis, which looked at store closures from January 2018 to 4 June 2019, found that 872 stores had closed their doors

Jun

Child benefit tax penalties refunded by HMRC

Almost 5,000 UK taxpayers have received refunds totalling £1.8m after HMRC opted to cancel ‘failure to notify’ penalties among those within the higher rate income tax threshold. Since 2013, small business owners and employed individuals earning more than £50,000 a year have been given the choice to opt out of receiving child benefit or risk facing a tax charge known

Jun

HMRC Agent Update – Issue 72

HMRC’s Agent Update 72 is available now and contains a variety of articles and updates. There is an update on Making Tax Digital and information on income requirements for tax credit renewals. Other highlights include articles about: student/postgraduate loan notices VAT: building and construction services reverse charge disguised remuneration loan charge

Jun

Making Tax Digital service scheduled maintenance

HMRC will be undertaking scheduled maintenance to the Making Tax Digital (MTD) services for both VAT and Income Tax Self Assessment (ITSA), in order to incorporate security updates. Businesses will be unable to use the MTD VAT and Income Tax services from 11.30pm on Saturday 15 June to 10.30am on Sunday 16 June. During these periods, users will be unable

Jun

Law breaking employers targeted in new round of pension compliance checks

Employers who flout their automatic enrolment pension duties are being targeted with short-notice inspections by The Pensions Regulator (TPR). TPR is using data to pinpoint specific employers up and down the country who are suspected of breaking the law, including those who fail to put staff into a pension scheme or who make no, or incorrect, pension contributions. It is

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