Our latest newsletter provides an update on a range of topical issues:
Employer advice ahead of major change for payroll
Minimum wage: know the rules, not just the rates. Forthcoming changes highlight the need for employers to deal confidently with the underlying rules.
Making Tax Digital: Remodelled and Going Ahead
MTD for Income Tax was due to be implemented from April 2024 but this has thankfully been delayed and a phased approach set out, commencing April 2026.
Cash Basis Change for Unincorporated Businesses
At present, accounts for the self-employed and partnerships are taxed on the accruals basis, unless the business elects to use the cash basis, instead. From 6 April 2024, the cash basis becomes the default, unless a business opts out.
Doing Business After Brexit: The Latest
Leaving the EU has meant new rules and procedures when importing and exporting goods. With major regulatory changes still taking place, what comes next?
Construction industry tax compliance
Gross payment status allows subcontractors to be paid gross under the construction industry scheme (CIS), without deduction of withholding tax. To gain gross payment status, there are currently three compliance tests but a fourth VAT related test is added from 6 April 2024.
Real or Fake? How HMRC Communicates
Out of the blue, a text or phone call claiming to be HMRC.It threatens legal action over your tax, or tells you your National Insurance number has been ‘compromised’ — or perhaps it says you’re due a tax refund. The common denominator, though, is that you’re asked to provide details, like bank or credit card information — giving a criminal access to your affairs.
Retirement and Pensions Round-up
A recent survey by the Money and Pensions Service (MaPS) found that more than half of people don’t know what happens to their pension when they die. It found that only two in five people knew that pensions go to a nominated beneficiary: and one in five didn’t know who had been nominated.
Employer advice ahead of major change for payroll
Minimum wage: know the rules, not just the rates. Forthcoming changes highlight the need for employers to deal confidently with the underlying rules.
Making Tax Digital: Remodelled and Going Ahead
MTD for Income Tax was due to be implemented from April 2024 but this has thankfully been delayed and a phased approach set out, commencing April 2026.
Cash Basis Change for Unincorporated Businesses
At present, accounts for the self-employed and partnerships are taxed on the accruals basis, unless the business elects to use the cash basis, instead. From 6 April 2024, the cash basis becomes the default, unless a business opts out.
Doing Business After Brexit: The Latest
Leaving the EU has meant new rules and procedures when importing and exporting goods. With major regulatory changes still taking place, what comes next?
Construction industry tax compliance
Gross payment status allows subcontractors to be paid gross under the construction industry scheme (CIS), without deduction of withholding tax. To gain gross payment status, there are currently three compliance tests but a fourth VAT related test is added from 6 April 2024.
Real or Fake? How HMRC Communicates
Out of the blue, a text or phone call claiming to be HMRC.It threatens legal action over your tax, or tells you your National Insurance number has been ‘compromised’ — or perhaps it says you’re due a tax refund. The common denominator, though, is that you’re asked to provide details, like bank or credit card information — giving a criminal access to your affairs.
Retirement and Pensions Round-up
A recent survey by the Money and Pensions Service (MaPS) found that more than half of people don’t know what happens to their pension when they die. It found that only two in five people knew that pensions go to a nominated beneficiary: and one in five didn’t know who had been nominated.
