Deadline for 2018/19 PAYE settlements
If you supplied your employees with benefits in the tax year 2018/19 and you’ve agreed to settle the tax bill using a PAYE settlement agreement with HMRC, you must complete and submit details on Form PSA1 by 19 October 2019.
The tax and NI contributions are due by 22 October 2019, if paying electronically.
Can you claim ‘Investors’ Relief?
A few years ago, you bought shares in a new company and would now like to sell them, would you be entitled to Investors Relief? Jo takes a look in this week’s blog.
HMRC Custom Declaration Training Grants
To ensure that trade with the EU continues as smoothly as possible after Brexit on 31 October, HMRC are offering 2 grants to help businesses complete customs declarations in preparation for the UK leaving the EU.
Details on how to apply and who is eligible in this week’s blog.
A round up of all that’s new and changing in tax and payroll. Click here
HMRC’s plan to accelerate Capital Gains Tax
From April 2020, the way that you report and pay the tax on a gain from the sale of residential property is changing. Jo explains more in her blog.
Import VAT – changes from 15 July
Changes to Import VAT on goods that you do not own come into effect on 15th July. More details here.
Company Car Advisory Fuel Rates increase from 1st September 2019
Full details and details of the amounts to pay for electric cars here.
Company Cars – informing HMRC
HMRC have added a new category to their form P46 (car) – Tracy explains more in her blog.
Property Tax Changes – Sale of own home Principal Private Residence Relief
You do not pay tax on the sale of your own home if you have occupied throughout the period of ownership. For periods you have not occupied the house tax may be payable. Find out more in Jo’s Blog
Making Tax Digital Guidance and Links
We have noted a few HMRC links on MTD that you may find useful.
Registering for VAT after 1 April 2019?
If you’re required to register for VAT after 1 April 2019, Making Tax Digital for VAT will apply to you. The ideal time for registering is soon after you have submitted your last return using the old system. Read more in Jo’s blog.
HMRC Tax Calculation Forms P800
If you receive one of these calculations from HMRC, we would encourage you to check them. More info in Jo’s blog.
EIS Schemes and Directors
Do you qualify for EIS relief? Jo explains in her blog.
S R Lynn & Co become Handpicked Accountants. Read more.
The Marriage Allowance will let you transfer £1,250 of your Personal Allowance to your partner. This is the amount of income people can get before paying tax.
To register your interest in the Married Couples Transferable Allowance with HMRC click here.
Previous blogs you may find of interest…
- AIA Increase
- Apprenticeship Levy
- Audit Exemption
- Business Cars Capital Allowances
- Business Travel Expenses
- Capital Gains Tax for Non-Residents – Sales of UK Residential Property
- Child Benefit Opt Out
- Class 2 National Insurance Contributions
- Companies House Filing Dates
- Company Car Advisory Fuel Rates
- Construction Industry Scheme
- Dividend Payments and Documentation
- Dividend Tax Rates
- Employment Allowance
- Employment Status Indicator
- Financial Thresholds
- Gender Pay Gap Reporting
- Income Shifting
- Interim or Final Dividend?
- IR35 Employment Status
- Junior ISAs
- LISA Savings Account
- Limited Liability Partnerships
- National Minimum/Living Wage
- Part-time Carers
- Seed Enterprise Investment Scheme
- Should you charge VAT to Overseas Customers?
- Student Loans
- Tax Free Childcare
- Trading Disclosures
- Useful Figures
- VAT Fuel Scale Charges
- VAT registration and de-registration thresholds