Latest News

Off-payroll working rules factsheet for contractors

The Treasury has published a factsheet specifically aimed at contractors, which we’ve included below. It helps explain the changes to the IR35 compliance rules from April 2020. If you have any queries please contact us. Credit: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/857148/Contractor_factsheet.pdf

Working through your own limited company? Are you ready for the new ‘off payroll working’ rules from April 2020?

This article from the Low Incomes Tax Reform Group looks at the new rules (known as ‘off payroll working’ rules) which are due to be introduced in April 2020, which could significantly impact any tax savings that you, and other … Read More

Grandparents – claim your state pension ‘babysitting’ credits

This article from the Low Incomes Tax Reform Group looks at family members who look after a relative’s children to allow them to go out to work, and how they may be able to increase their future state pension by … Read More

Received a P800 Tax Calculation from HMRC? Check it is correct!

Over the next few months, millions of people who pay tax through PAYE will receive P800 calculations from HMRC telling them they have either underpaid, or overpaid, tax. Any calculations should be treated with caution – it is by no … Read More

A year left to claim full marriage allowance refund

The Low Incomes Tax Reform Group (LITRG) is reminding couples that they have until this time next year (5 April 2020) to claim marriage allowance refunds dating back to the first tax year of the allowance, 2015/16. The marriage allowance … Read More

What to do if HMRC didn’t collect your Payment on Account

This article from Accounting Web explains how a glitch within the HMRC self assessment system has meant that some taxpayers were not informed of the amount of tax to pay on account by 31 January 2019 and this problem won’t … Read More

Hiring staff on an employed or self employed basis?

LITRG have developed a detailed factsheet for people hiring someone to work for them. This looks at employment status – that is, whether an individual you hire is employed or self-employed for tax purposes. ©shutterstock/wavebreakmedia If you hire someone to … Read More

Spring Statement 2019 – 10 Tax Takeaways

It was a quiet statement on the tax front. This article by the Chartered Institute of Tax pulls out the main quick observations. 1) MTD for VAT still going ahead – ‘soft landing’ confirmed (and our reaction is here) 2) But MTD won’t … Read More

New Payment Deadline for Capital Gains Tax on Residential Property

From 6 April 2020, UK residents disposing of UK residential property will have new capital gains tax (CGT) reporting and payment obligations. The introduction of a 30-day reporting and payment window marks a significant change to the administration of CGT. … Read More

2019 Minimum Wage and Auto Enrolment Rates

Important Information for Employers We would like inform you of an upcoming increase to minimum wage and minimum pension contributions on the 1st April 2019.   The increases to minimum wage are as follows:-   25 and over – £8.21 … Read More