Using the trivial benefits exemption
The trivial benefits in kind (BiK) regime came into effect in April 2016. This statutory exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given occasionally
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Post-election comment
The recent election result has certainly thrown the cat amongst the pigeons. There are already indications that the Queen’s speech and the start of Brexit negotiations may be delayed, this mainly due
Benefits filing deadline approaching
Employers are reminded that the deadline for submitting the 2016-17 forms P11D, P11D(b) and P9D is 6 July 2017. P11D forms are used to provide information to HMRC on certain benefits and expenses that
VAT Flat Rate Scheme – limited cost traders
The VAT Flat Rate Scheme (FRS) was introduced to ease the process of calculating and submitting VAT returns for smaller businesses - the FRS is only available to businesses that expect their annual
Main Residence Nil Rate Band
The impact of Inheritance Tax has been reduced recently for families that own their own home. HMRC has introduced a new relief, the Inheritance Tax main residence nil-rate band (RNRB), which came into
Marginal rate of income tax
For high earning taxpayers the personal allowance is gradually reduced by £1 for every £2 of income over £100,000 irrespective of age. This creates an effective marginal rate of tax of around 60% for
EU Fourth Money Laundering Directive
The EU Fourth Money Laundering Directive which makes sweeping changes to combatting money laundering and terrorist financing across the EU will be implemented into UK law on 26 June 2017. As a
Pensions regulator new enforcement action
Automatic enrolment into workplace pensions has been rolling out across the UK since 2012. It is expected that all employers will be part of the scheme by early 2018. Employers failing to comply
Identifying phishing emails
HMRC publishes guidance on the subject of phishing and bogus emails. The document called Genuine HM Revenue and Customs contact and recognising phishing emails includes details of emails, letters,
Gift Aid donations
The Gift Aid scheme is available to all UK taxpayers. The charity or Community Amateur Sports Clubs (CASC) concerned can take a taxpayer’s donation and, provided all the qualifying conditions are met,