HMRC outline Making Tax Digital plans
HMRC have issued a series of consultation documents outlining further plans for the government’s Making Tax Digital (MTD) initiative.
HMRC genuine and phishing / bogus emails and calls
HMRC have issued an update of their guidance on how to recognise genuine HMRC contact be it via email or text. They have also issued a warning regarding two telephone scams that they are aware of.
TPR latest pensions auto enrolment awareness
According to the latest research by the TPR, based on surveys carried out between February and April 2016, the understanding amongst small employers of their duties under pensions auto enrolment saw a significant rise from 68% to 81%.
ACAS guidace on working in hot temperatures
According to the latest research by the TPR, based on surveys carried out between February and April 2016, the understanding amongst small employers of their duties under pensions auto enrolment saw a significant rise from 68% to 81%.
Contractors Monthly Returns – Construction Industry Scheme (CIS)
From April 2016 changes have been made to the Construction Industry Scheme (CIS). Part of the reforms were that contractors must file their monthly returns online.
Sibbalds Team Away Day at Horsley Lodge
On 16th June we closed the office, so that the directors and the team at Sibbalds could hold an “away day” at Horsley Lodge.
P11D deadline approaching – 6 July 2016
The forms P11D, and where appropriate P9D, which report details of expenses and benefits provided to employees and directors for the year ended 5 April 2016, are due for submission to HMRC by 6 July 2016. Employees pay tax on benefits provided as shown on the P11D, either via a PAYE coding notice adjustment or…
VAT Flat Rate Scheme guidance updated
HMRC have issued updated guidance on the operation of the VAT Flat Rate Scheme which allows taxpayers to calculate the VAT payable by applying a flat rate percentage to their VAT inclusive turnover, rather than netting off output and input VAT due on sales and purchases. The revision in the guidance follows a number of…
Pensions Freedom update
According to HMRC figures over 230,000 people have used the new pension freedoms introduced one year ago and accessed over £4.3 million in pensions saving. In April 2015, the government introduced significant pension reforms giving people the ability to access their pensions savings how and when they want. The statistics show that in the first…
New Savings allowance
A new savings allowance is available to basic and higher rate taxpayers for 2016/17. The amount available depends on the individual’s circumstances: If any of the individual’s income for the year is additional rate income then the individual’s savings allowance for the year will be nil. If any of the individual’s income for the year…