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Late filing of self-assessment tax returns

Taxpayers that have not yet filed their 2015-16 self-assessment returns will have been charged an automatic £100 penalty for late submission. The penalty applied from 1 February 2017 even if no tax...

16th February 2017

The new £1 coin is coming

It is now less than six weeks until the new £1 coin enters circulation on 28 March 2017. The new £1 coin will be 12-sided and will replace the round shaped £1 coin that has been in use for 30 years....

16th February 2017

The Apprenticeship levy

The new apprenticeship levy comes into effect from April this year at a rate of 0.5% of the employer's 'pay bill'. To exclude smaller employers a £15,000 annual allowance can be claimed. The effect of...

16th February 2017

Pension auto-enrolment penalties

Automatic enrolment into workplace pensions has been rolling out across the UK since 2012 beginning with the largest employers in the country. The first batch of small and micro employers started to...

16th February 2017

Credit Card Sales Campaign

HMRC’s Credit Card Sales campaign targets individuals and businesses that accept credit and debit card payments and have not paid the right amount of tax due. The campaign offers the opportunity for...

16th February 2017

Tax avoidance – Spotlights

HMRC Spotlights identify specific tax avoidance schemes that HMRC have become aware and which they consider are not likely to have the legal effect desired by those thinking of using them. According...

16th February 2017

Housebuilder loses tribunal case

A recent tribunal case examined a VAT refund claim in respect of the VAT DIY Builders scheme. The scheme is a set of special VAT rules which allow the qualifying construction costs of new homes and...

8th February 2017

Making Tax Digital

Making Tax Digital (MTD) is likely to be the most wide ranging change to the UK tax system since the introduction of Self Assessment many years ago and will fundamentally change the way businesses,...

8th February 2017

Pensions Advice Allowance

A new pensions advice allowance will come into force from April 2017. The allowance will allow those nearing retirement to take up to £1,500 out of their pension pots tax-free to put towards the cost...

8th February 2017

Tax codes to use from 6 April 2017

The P9X form is used to notify employers of what tax codes to use for employers. The form has been updated with tax codes to use from 6 April 2017. The basic personal allowance for the tax year...

8th February 2017