Latest News

One month to go before introduction of Making Tax Digital for VAT

Businesses are being urged to get ready as over 2,000 businesses are signing up for Making Tax Digital (MTD) for VAT each day. Almost 1.2 million businesses have one month to go before the introduction of MTD. Nearly 30,000 businesses have already signed up to the new service which will give them a more integrated approach to business and tax.

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Making Tax Digital update

HMRC has released further guidance and support relating to Making Tax Digital (MTD) for VAT. Further information can be found below: Exemptions guidance HMRC has updated the VAT Notice 700/22 to cover exemptions from MTD and included an outline of the process for applying for exemption. The relevant part of the Notice is Section 3. They have also included some

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Keeping pensions safe for the millions newly saving

A report published demonstrates how The Pensions Regulator (TPR) is working to make sure members’ savings stay safe. TPR’s latest quarterly compliance and enforcement bulletin  follows news that 10 million people are newly saving or saving more thanks to automatic enrolment. The bulletin demonstrates the wide ranging action TPR is taking to protect savers and ensure staff receive the pensions they

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EU Exit – Update from HMRC

HMRC has produced a range of communications resources to help businesses prepare for the possibility of leaving the EU without a deal. This includes: Step-by-step guides to importing and exporting Guidance for businesses that trade with the EU Letters to support EU-only traders Key messages on the UK border All the documents are available on HMRC’s dedicated GOV.UK communications resources

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Welsh rates of income tax

The Welsh rates of income tax (WRIT) will come into effect from 6 April 2019. HMRC have developed a range of factsheets which provide easy access to key information about WRIT for employers, agents and charities. Links to these factsheets are below: Factsheet for employers Factsheet for employees General factsheet If you would like a copy of any of the

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HMRC Agent Update – Issue 70

HMRC’s Agent Update 70 is available now and contains a variety of articles and updates. This latest issue features a new section on EU Exit, with articles on preparing businesses for EU Exit and training and support for customs intermediaries. Other highlights include articles about: disguised remuneration loan charge reporting requirements and the need to take action to settle clients’ schemes by

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Personal insolvency hits seven-year high during 2018

A jump in personal insolvencies in the fourth quarter of 2018 sent the total number of people going bankrupt in England and Wales to the highest level since 2011. Debt advisers blamed Brexit uncertainty, weak wages growth and tighter credit rules for forcing more people to declare themselves insolvent. Money Advice Trust, the charity that runs National Debtline, said the

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What we want to change about our workspaces!

Are you fed up of outdated traditions that still crop up in the workplace? Most of us have experienced frustration with this at some point, whether it’s tedious meetings, lengthy tea rounds or even the flexible working debate. In fact, new research from leading independent jobs website, CV-Library, has found that four in 10 (39%) finance professionals think these stuffy

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Thousands of savers could face shock tax bills following pension upgrade

Tiny changes to the company pensions of thousands of workers following a recent court case could land them with unexpected six-figure tax bills unless urgent action is taken by HMRC, according to Steve Webb, Director of Policy at insurance giant Royal London. A Freedom of Information (FOI) reply supplied to Royal London shows that over 100,000 people have secured ‘Fixed

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