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The VAT reverse charge and how it will affect the construction industry

Feb 18, 2019

This year could be the most challenging year yet for the construction industry, as HM Revenue and Customs (HMRC) has announced that the VAT reverse charge will commence 1 October 2019.   The Government announced in the 2017 autumn budget statement that ...

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Businesses must prepare now for an increase in employment-related costs

Feb 13, 2019

An increase in the National Living and Minimum Wage and rising workplace pension contributions could create the perfect storm for small businesses in April. Small businesses owners across the UK will need to prepare themselves for the changes ahead, which will ...

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PENSION

Automatic Enrolment contributions to increase from April

Feb 13, 2019

The next increase in Automatic Enrolment (AE) pension contributions for both employees and employers will take place from 6 April 2019. The minimum employer contribution will increase from two per cent to three per cent, while the employee contribution will rise ...

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ICAEW reveal valentine’s tax benefits

Feb 11, 2019

It may not be the most romantic reason to propose but with valentine’s day just a few days away the ICAEW are highlighting the tax benefits of getting married or entering a civil partnership. For example, as a wedding gift, each ...

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HMRC takes new measures to toughen stance on debt recovery

Feb 07, 2019

HM Revenue and Customs (HMRC) has toughened its stance on debt recovery, by taking money owed to them directly from hundreds of pay packets during the last financial year. In data obtained via a Freedom of Information request, it was revealed ...

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Record number of Self-Assessment tax returns filed by the deadline

Feb 04, 2019

HM Revenue and Customs (HMRC) has revealed that a total of 93.68 per cent of Self-Assessment tax returns were filed by the deadline. This equated to a record number of 11.5 million taxpayers submitting their 2017/18 tax returns by 11:59 pm ...

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Services sector exports record numbers, report shows

Jan 28, 2019

The UK services sector has experienced a record year, increasing exports to regions all around the world. The report, published by the Department for International Trade (DIT), shows that services exports grew the most to the Americas, rising by 2.6 per ...

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Businesses reminded to take steps to prepare for upcoming payroll changes

Jan 24, 2019

Business owners in the UK are being reminded to take sufficient measures to prepare their businesses for the upcoming changes to legislation regarding payroll, which will come into force on the 6 April 2019. The changes to the legislation are being ...

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HMRC wrongly issue fines before the self-assessment deadline

Jan 21, 2019

It has been revealed that Her Majesty’s Revenue & Customs (HMRC) has wrongly issued millions of fines to taxpayers, just weeks before the self-assessment deadline on the 31st January. Currently, 11.5 million workers are calculating their tax to ensure they submit ...

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HMRC crackdown on online tax evasion in the UK

Jan 15, 2019

The Joint and Several Liability (JSL) notices, were introduced in 2016 to protect British businesses from being undercut by overseas sellers committing VAT evasion. Since then, HM Revenue and Customs (HMRC) has been able to crackdown on online tax evasion in ...

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