Under 4 year olds now eligible for tax-free childcare

May 05, 2017

The government have issued the following press release regarding the roll-out of the new tax-free childcare scheme:

From 21 April 2017, working parents can start applying for two new government…

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Finance Bill reduced

May 04, 2017

In order to ensure that the Finance Bill 2017, introduced March 2017, is passed before the impending general election, huge chunks of the original, published bill have been removed. In the national…

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Expenses and benefits for employees

May 02, 2017

Until 2015-16, it was possible to apply for a dispensation to exclude certain expenses and benefits provided to employees from the year end returns to HMRC: primarily the submission of forms P11D. These…

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All change for driving instructors and learner drivers

May 02, 2017

Driving instructors will have a tough time this year. Many are sole traders and will need to start changing their record keeping to accommodate the challenges of Making Tax Digital, either April 2018…

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Beneficial loans to employees

May 02, 2017

In many cases, making loans to your employees or their relatives can create an obligation to report a beneficial loan to HMRC. The deemed benefit would be a taxable benefit in kind for the relevant…

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What are approved mileage payments

May 02, 2017

Mileage Allowance Payments (MAPs) are the rates used by employers to reimburse employees when they use their own transport for business purposes. The current rates are well-known. They are:

  • Cars…

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Tax Diary May/June 2017

May 02, 2017

1 May 2017 - Due date for Corporation Tax due for the year ended 31 July 2016.

19 May 2017 - PAYE and NIC deductions due for month ended 5 May 2017. (If you pay your tax electronically the due…

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A note for driving instructor clients E and learner drivers

Apr 27, 2017

The Driver & Vehicle Standards Agency has released its response to a consultation with the industry to “Improve the car driving test”. In their conclusion they say:

“This paper reports the outcome…

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New accounts filing regulations for smaller companies

Apr 25, 2017

Companies house recently published the following news story.

Changes to UK company law removed the option for small companies to file abbreviated accounts for accounting periods starting on…

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