Advisory fuel rates for company cars

New company car advisory fuel rates have been published which take effect from 1 March 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car....

Diary of main tax events for March/April 2018

  Date What’s Due 1/03 Corporation tax payment for year to 31/5/17 (unless quarterly instalments apply) 19/03 PAYE & NIC deductions, and CIS return and tax, for month to 5/03/18 (due 22/03 if you pay electronically) 1/04 Corporation tax payment for year to 30/6/17...

Want to join the making Tax Digital VAT pilot?

HMRC have announced that they are looking for suitable businesses to sign up for the pilot testing of the new system of digital reporting of VAT information. After a period of testing the new system is scheduled to go live in April 2019 for VAT registered businesses...

A £300k penalty for being one day late

A company has been hit with a very harsh penalty the first time it paid late – by one day. How did this happen, and can you avoid surcharges by paying on time? Default. The default surcharge regime for VAT is unlike the normal penalty charging rules for other...