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Insurance costs on company cars brought into scope of tax rules

The government has released draft legislation to include costs connected with company cars and vans, such as vehicle maintenance and insurance, within the scope of Optional Remuneration Arrangements (OpRA) rules for tax and National Insurance contribution (NIC) purposes. HMRC has released draft legislation to ensure that OpRA rules work as intended after several anomalies were pointed out. The new legislation

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Scotland introduces first-time buyer property tax relief

Around 80% of first time home-buyers in Scotland are set to pay no tax on their purchase following the introduction of a new relief on 30 June, the Scottish government has said. The land and buildings transaction tax (LBTT) first time buyer relief sees the zero-rated LBTT threshold raised from £145,000 to £175,000 for first-time buyers. Those purchasing property at

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One million married couples still eligible for £900 tax boost

Around three million couples across the UK have boosted their finances with Marriage Allowance, according to HMRC. But more than a million married and civil partnered couples are still eligible for the free tax break worth up to £238 a year. And HMRC rules mean couples can backdate their allowance and boost their payment up to £900. HMRC says: “Applying

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In the dark on VAT filing obligations

A quarter of businesses are unaware of new VAT rules, leading to fears that small companies will lack the software to file their tax returns. Making Tax Digital comes into effect in April 2019 and will require businesses to keep an electronic record of all transactions on approved software to make VAT returns. A survey of 1,100 companies by the

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Gig economy ‘is creating a pensions time bomb’

Only one-third of the self-employed UK workforce are paying into a pension despite most being concerned about their ability to cope financially after retirement, says a new study. The research, published by the Association of Independent Professionals and Self-Employed (IPSE), polled over 1,000 self-employed people. It says that millennials (those reaching young adulthood in the early 21st century), women and

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Charity Commission moves to online real time updates

The Charity Commission is developing its current service to allow charities to update information such as details of trustees in real time using its online service, with the aim of going live later this summer, at the same time as the 2018 annual return. The Commission will be asking charities to check that the register details for its trustees remain

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Small businesses want educating about MTD

New research from Intuit QuickBooks has found that learning about Making Tax Digital (MTD) is the biggest concern for VAT-registered small business owners as they transition to digital accounting. Over three-quarters (76%) cited understanding the legislation as a challenge, followed closely by finding new tools to help them comply (70%), finding time (66%), managing additional work (64%) and choosing the

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HMRC under investigation for alleged breach of data protection rules

HMRC are under investigation by the Information Commissioner following a complaint that it breached data protection laws by saving taxpayers’ voices without consent. The privacy watchdog Big Brother Watch alleges that HMRC has collected 5.1 million taxpayers’ voiceprints without their consent. Callers to HMRC are required to repeat the phrase “My voice is my password” on an automated line before

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HMRC cut staff numbers by over 2,000 since Brexit referendum

Staff numbers at HMRC have fallen by over 2,000 since the UK voted to leave the European Union, despite the department’s crucial role in preparing for the new customs regime after the UK leaves the EU. The headcount figures, which were revealed in a parliamentary answer from Treasury minister Mel Stride to Labour MP Jenny Chapman recently, show that the

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