Spring Statement 2018

Mar 14, 2018

As you would expect, the Spring Statement delivered by the Chancellor Philip Hammond, to Parliament on 13 March 2018, was peppered with party political jibes no doubt intended to lift the spirits of…

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Time to raid piggy banks

Mar 08, 2018

From the 1 March 2018, the old-style £10 notes featuring Charles Darwin, ceased to be legal tender. A recent announcement by Companies House suggests the following actions:

Time is ticking…

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Massive fine for making VAT payment one day late

Mar 06, 2018

In a recent case considered by the courts a company was fined £297,845 for being one day late in paying their VAT.

The case highlights the unpredictable, and seemingly harsh outcomes of HMRC’s…

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New protection for company directors from identity fraud

Mar 05, 2018

The Department of Business, Energy & Industrial Strategy issued the following announcement last week:

  • Company directors are twice as likely to be victims of identity fraud, research shows
  • New…

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Tax and making loans to employees

Mar 05, 2018

A reminder that making loans to your employees or their relatives can create tax problems for employees and employers. For example, the employer will have an obligation to report a beneficial loan to…

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Inheritance tax in for an overhaul

Mar 05, 2018

The Office for Tax Simplification (OTS) has been tasked by government to review key aspects of the inheritance tax (IHT) legislation. According to information posted to the government’s website recently,…

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Tax-free childcare support expanded

Mar 05, 2018

From 14 February 2018, tax-free childcare is available to all remaining eligible families: parents whose youngest child is under 12. The new scheme aims to help working parents with the cost of childcare.

According…

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Claiming expenses by the mile

Mar 05, 2018

A reminder that employees can make a claim for the business use of their own cars, motorcycles or cycles by logging their business mileage and applying an approved mileage rate.

Mileage allowance…

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Tax Diary March/April 2018

Mar 05, 2018

1 March 2018 - Due date for corporation tax due for the year ended 31 May 2017.

2 March 2018 – Self assessment tax for 2016/17 paid after this date will incur a 5% surcharge.

19 March…

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