TAX DIARY FEBRUARY/MARCH 2019

19/02 PAYE & NIC deductions, and CIS return and tax, for month to 5/02/19 (due 22/02 if you pay electronically)1/03 Corporation tax payment for year to 31/5/18 (unless quarterly instalments apply) 2/03 5% penalty imposed on 2017/18 income tax, CGT, class 2 and 4 NIC still unpaid at this date 19/03 PAYE & NIC deductions, […]

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NO DEAL BREXIT – WHAT ABOUT VAT?

The Government and HMRC have updated its collection of high-level guides called “partnership packs”, intended to help businesses involved in importing and exporting prepare for changes to customs procedures after 29 March 2019 in the event of a “no deal” scenario. If the UK exits the EU without a deal, UK businesses will have to […]

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TAX DIARY JANUARY / FEBRUARY 2019

19/01 PAYE & NIC deductions, and CIS return and tax, for month to 5/01/19 (due 22/01 if you pay electronically) 31/01 Deadline for Self-Assessment tax return for 2017/18 if filed online. Also the due date for 2017/18 balancing payment and 50% payment on account of 2018/19 tax. 1/02 Corporation tax payment for year to 30/4/18 […]

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PASSING ON THE FAMILY HOME

New inheritance tax rules for passing on the family home started on 6 April 2017. This additional relief should be taken into consideration when drafting your Will and we can work with your solicitor to make sure your Will is tax efficient. From 6 April 2017 an additional nil rate band of up to £175,000 […]

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BUSINESS TRENDS TO WATCH IN 2019

Here are some of the top Business Trends to watch in 2019. Marketing will continue to become more personalised Marketing is becoming increasingly personal, and this trend will keep going as we move into the new year. No longer will stock images, generic campaigns or impersonal calls to action convince consumers. In order to appeal […]

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Trust Taxation

We are still awaiting the promised consultation on the taxation of trusts announced in the Autumn 2017 Budget. However, in the meantime HMRC have updated their guidance on how different types of trust income are taxed, what management expenses and reliefs can be deducted, and understanding the tax pool. Please contact us if you are [...]
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Short-term Business Visitors

HMRC are consulting on ways to simplify the tax treatment of short-term business visitors from the foreign branch of a UK company, to ensure the UK is an attractive location for business headquarters. The consultation considers potential changes to the PAYE arrangements under which UK employers need not operate PAYE for employees of their overseas […]

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Notify HMRC Of EBT And Similar Loans By 30 September

HMRC have published revised guidance on settling tax liabilities in relation to the use of disguised remuneration schemes involving Employee Benefit Trusts (EBTs) and similar arrangements. In order to settle on preferential terms before the outstanding loan charge arises on 5 April 2019, taxpayers must register with HMRC and provide all of the required information […]

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