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Essential tax dates for September
1 September New Advisory Fuel Rates (AFR) for company car users apply from today. 19 September PAYE, Student loan and CIS deductions are due for the month to 5 September 2019. 30 September End of CT61 quarterly period.
PAYE RTI penalties to remain risk-based
Following a review, HMRC has decided to continue the risk-based approach to PAYE late filing and late payment penalties for employers throughout the 2019/20 tax year with penalties due to go out from September This means that late filing and late payment penalties...
What you need to know about Making Tax Digital
The deadline for the first round of VAT returns under Making Tax Digital (MTD) was 7thAugust. Many businesses are still not up and running. HMRC are aware of this and currently showing leniency. However it is something that needs addressing as a matter of priority. Do...
Auto enrolment for post-Brexit EU customs system
HMRC is to automatically enrol over 145,000 VAT-registered UK companies into the economic operator registration and identification (EORI) customs system to reduce the risk of Brexit disruption to trade. Less than half of companies required to sign up to the economic...
Working parents may be eligible for tax-free childcare this summer
The government is reminding working parents that they could ease this summer's childcare costs by using Tax-Free Childcare (TFC). The scheme is worth up to £2,000 a year for each child and allows parents to save regularly for childcare costs. For each £8 saved the...
VAT changes may cause construction chaos
The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos. The VAT domestic reverse charge for building and construction...
Errors on self assessment statements are a ‘fiasco’
Some taxpayers face unexpected tax bills due to a technical error with HMRC’s IT system which means that self assessment statements were sent out with the wrong information Wednesday is the final payment date for taxpayers who may have made a mistake on their self...
Construction industry reverse charge VAT ‘chaos’
The Federation of Master Builders (FMB) is calling for a six-month delay to implementation stating that levels of awareness about the changes to VAT reporting are low and few companies have made preparations for it. In a complete overhaul of the way VAT is payable on...
Government publishes Finance Bill 2019-20 draft legislation
The government has published draft legislation for Finance Bill 2019-20. One of the primary objectives included in the draft legislation is to 'update tax policies for the digital age'. The legislation outlines that, from April 2020, large digital firms will be...
Essential tax dates for August
2 August Deadline for submitting P46(Car) for employees whose car/fuel benefits changed during the quarter to 5 July 2019. 19 August PAYE, Student loan and CIS deductions are due for the month to 5 August 2019.
HMRC promises leniency despite slow take up of Making Tax Digital
HMRC has promised not to throw the book at firms who struggle to register for Making Tax Digital (MTD) as new figures show total take-up lagging in certain sectors. Three-quarters of VAT registered financial firms have not signed up for MTD despite the looming legal...
Tax-free childcare for kids applies to holiday club payments
As the summer holidays loom, HMRC is reminding working parents that they can apply for tax-free childcare worth up to £2,000 per child per year to pay towards regulated holiday clubs during the school holidays Parents can choose from more than 68,000 childcare...
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Middleton Accountancy Services
211 Manchester New Road
Alkrington
Middleton
Manchester
M24 1JT
