HMRC

HMRC Agent Update – Issue 71

HMRC’s Agent Update 71 is available now and contains a variety of articles and updates. The latest issue features articles including: Apprenticeship levy funds transfer limit to increase in April 2019: From April, the amount of funds that levy-paying employers can transfer to other employers to support apprenticeships will increase from 10% to 25%. Extension of Non-resident Capital Gains Tax on

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Taxman accused of ‘bullying’ small debtors

HMRC has been accused of bullying by encouraging those who owe tax to pay off their debts more quickly than necessary. Officials are failing to mention the minimum amount the taxman would be able to accept to set up instalment plans for outstanding bills when people in arrears call to settle their debts. Instead, they suggest sums that may be

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‘Don’t jump the gun’ on MTD

An estimated half-a-million VAT registered UK businesses must now comply with the requirements of Making Tax Digital (MTD), which came into effect on 1 April. But the Chartered Institute of Taxation (CIOT) and Association of Tax Technicians (ATT) are warning businesses against making a false start with MTD by signing up too early – the consequences of which can be

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Making Tax Digital – when to sign up

To allow agents to plan signing their clients up to Making Tax Digital (MTD), HMRC have produced a tool that shows the sign up window for businesses.  The length of this window varies depending on a business’ filing frequency and payment method. The general position is that businesses need to sign up in time to submit their first return that

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HMRC 2019 loan charge

The 2‌01‌9 loan charge comes into effect on Fr‌id‌ay 5 A‌pr‌il. Help is available to people who used disguised remuneration avoidance schemes if they want to settle their tax affairs before the loan charge comes into effect. People who need to settle should contact HMRC now and send them all the information they need as quickly as possible, and by

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Reporting payroll when your normal payday falls on a non-banking day

The date you pay your employees will usually be agreed when they begin working for you. Typically, this could be at the end of a calendar month or on Friday each week. It is essential that you report when you pay your employees on time and use the right payment date when doing so. Remember if you use an incorrect

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HMRC Talking Points

HMRC’s regular Talking Points webinars provide information, guidance and tips to help you understand tax issues. Forthcoming ones include: An Intermediate Guide to the Enterprise Investment Scheme (EIS): This webinar will follow on from the introductory webinar on the EIS. It will take a more in depth look at the EIS, from both a company and individual perspective. It will also

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Making Tax Digital becomes law

The government’s major Making Tax Digital (MTD) programme became law on 1 April for over one million VAT-registered businesses earning more than £85,000. The new rules, first announced in 2015, will mean most businesses above the VAT threshold will need to keep their records digitally and submit their VAT return using MTD-compatible software for VAT periods starting on or after

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New GOV.UK pages to help traders prepare for EU Exit

HMRC recently published a new section on G‌O‌V.U‌K to help agents or their clients prepare for the UK leaving the EU without a deal. The pages bring together HMRC’s  key guidance to help you prepare if you are moving goods to or from the EU. The ‘Trading and moving goods from the UK to the EU if the UK leaves with

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