Preparing the workforce for EU Exit
Posted on Monday, August 19th, 2019
Over two thirds of EU citizens that are currently in the UK are here for work. The government is advising that if these individuals plan to remain living and working in the UK, after it leaves the... Read Full Article...
Tax gap remains low
Posted on Monday, August 19th, 2019
HMRC has published a report showing that the UK tax gap in 2017/18 is estimated to be £35 billion. This is 5.6% of total theoretical tax liabilities, and a small increase of 0.1% from 5.5% in 2016/17.... Read Full Article...
Updated guidance on spotting HMRC scammers
Posted on Monday, August 19th, 2019
HMRC has updated their list of examples of websites, emails, letters, text messages, WhatsApp messages and phone calls used by scammers and fraudsters to obtain an individual’s personal information. The guidance can be used to help you... Read Full Article...
Wage growth at a high
Posted on Monday, August 19th, 2019
Data published by the Office for National Statistics (ONS) has revealed that UK wage growth increased to 3.6% in the year to May 2019, the highest rate since the financial crisis in 2008. According to the ONS,... Read Full Article...
VAT changes may cause construction chaos
Posted on Monday, August 19th, 2019
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... Read Full Article...
Private Residence Relief changes
Posted on Monday, August 19th, 2019
The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief (PRR). The draft legislation is subject to consultation which closes on 5 September 2019. Following consultation this... Read Full Article...
Insolvency hierarchy changes
Posted on Monday, August 19th, 2019
From 6 April 2020, insolvency legislation will be amended to move HMRC up the creditor hierarchy for the distribution of assets in the event of insolvency by making HMRC a secondary preferential creditor in respect of certain tax debts... Read Full Article...
Digital Services Tax
Posted on Monday, August 19th, 2019
From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users. However, this only applies when the group’s worldwide... Read Full Article...
Off-payroll rules for the private sector
Posted on Monday, August 19th, 2019
The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector. The legislation is open for consultation until 5 September 2019. The new rules will apply... Read Full Article...
MTD for VAT latest
Posted on Friday, July 5th, 2019
HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must... Read Full Article...