Oct 12, 2018 | Accounts and Tax
The government has decided not to proceed with plans to abolish Class 2 National Insurance Contributions (NICs) from April 2019. Class 2 NICs are currently paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more per year. The...
Sep 19, 2018 | Accounts and Tax, HMRC
New company car advisory fuel rates have been published which take effect from 1 September 2018. The guidance states: ‘You can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company...
Sep 17, 2018 | Accounts and Tax
HMRC is working with more than 150 software suppliers who have said they will provide software for Making Tax Digital for VAT (MTDfV) in time for April 2019. From 1 April 2019, businesses will be mandated to use the MTDfB system to meet their VAT obligations under...
Aug 22, 2018 | Accounts and Tax
The government has published draft legislation for Finance Bill 2018-19 which is currently open for consultation, and ‘continues the government’s commitment to a competitive and fair tax system’. The draft legislation could affect a range of taxes, from Stamp Duty...
Aug 17, 2018 | Accounts and Tax
HMRC has published further information on Making Tax Digital for VAT (MTDfV). The VAT notice sets out some further details of the MTDfV regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the rules, businesses with a taxable...
Aug 3, 2018 | Accounts and Tax
HMRC proposes to introduce VAT reverse charge for construction services consultation. These new VAT rules are subject to consultation. HMRC has published a draft statutory instrument for technical consultation together with a draft explanatory memorandum and a draft...
