Latest News

HMRC – Getting ready for Brexit

Leaving the EU on 31 Oc‌to‌be‌r 2019 means there will be immediate changes to the way UK businesses trade with the EU that may impact your business. This includes UK businesses having to apply customs, excise and VAT procedures to trade with the EU, in the same way that already applies for goods and services traded outside the EU. Customs intermediaries

Read more

Read more

NatWest banking on your voice

NatWest has teamed up with Google to allow customers to ask a home smart speaker for details about their bank accounts. In a three-month trial, some 500 customers will be able to check balances and ask about their recent transactions. NatWest said that the new voice assistant capabilities could also be extremely helpful for visually-impaired customers. In order to use

Read more

Read more

Self-employed owed £1.6bn in late tax payments last year

Self-employed individuals owed £1.6bn in late tax payments to HMRC last year, with the figure expected to rise even further once more self-assessment returns for 2017/18 have been submitted. The value of tax owed by those who have missed the payment deadline has been rising for the last three years, according to UHY Hacker Young. The figure rose 4% to

Read more

Read more

‘Send Christmas presents now to avoid Brexit charges!’

Brits with EU-based family and friends should mail Christmas presents well before the end of October to avoid potential no-deal taxes and paperwork. That’s the view of international parcels firm ParcelHero, which recommends sending Christmas gifts to the European Union (EU) as soon as possible. This will avoid the potential expense and bureaucracy of shipping gifts after a no-deal Brexit.

Read more

Read more

‘Ban all watches from exams to stop cheating

An inquiry into cheating in exams across the UK has concluded that all watches should be banned from all exam halls to discourage cheating. Smart watches that connect to the internet are already banned from use by students taking public exams, but the review – by the Independent Commission on Examination Malpractice – said it is becoming difficult to distinguish

Read more

Read more

‘Don’t leave filing company accounts to the last minute’

Companies House is advising the 300,000 companies that must file accounts by the end of September to not leave it to the last minute. It is also recommending companies file their accounts online, for which a company authentication code is required (details at https://www.gov.uk/government/news/30-september-filing-deadline-for-accounts). Once applied for, the authentication code is sent by post to the company’s registered office and

Read more

Read more

Firms could be forced to pay double Social Security contributions

Payroll teams need to urgently review Social Security arrangements for employees who work here and in Europe as the UK heads towards Brexit or risk incurring significant costs, say accounting and tax advisory firm Blick Rothenberg. Robert Salter, an employment and expatriate tax specialist at the firm, said: “If the UK does leave the EU without a deal, companies may

Read more

Read more

Penalties on rise for self-assessing late payers

HMRC is handing out an increasing number of penalties to people submitting via self-assessment for overdue tax payments.   The value of overdue tax for the 2017/18 financial year, which is still being collected in, currently sits at £1.6 billion. That compares to final figures of £1.83bn for 2016/17.  HMRC is able to impose a penalty of 5% of the tax owed on

Read more

Read more

Government urged to simplify Apprenticeship Levy

Leading accountancy body the ICAEW has called for a more ‘flexible’ Apprenticeship Levy, arguing that the UK’s SMEs are in danger of missing out on young talent if the levy is not reformed. Introduced in 2017, companies with a pay bill of £3m or more must pay the levy but can reclaim government vouchers for apprenticeships, whereas companies with a

Read more

Read more