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Tax Tips and News

  • Taxpayer wins IR35 challenge

    Newsletter issue - May 2019.HMRC have recently lost another high-profile IR35 case. Kaye Adams, the presenter of ITV's Loose Women programme, has successfully challenged HMRC on her employment status, with a First Tier Tribunal (FTT) finding the terms of her personal services contract for BBC radio shows meant she was not an employee. In Atholl…Read More

  • Minimum workplace pension contributions rise

    Newsletter issue - May 2019.The minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme increased with effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contribution also increased from 3% to 5%. As part of the 'phasing'…Read More

  • VAT Flat rate scheme

    Newsletter issue - May 2019.The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations, although some VAT experts would argue that the scheme is not simple to use. Broadly, the FRS is a simplified VAT accounting scheme for small businesses, which allows users to calculate VAT…Read More

  • Rent-a-room tax break remains

    Newsletter issue - May 2019. HMRC's rent-a-room scheme currently allows individuals to receive up to £7,500 of gross income from renting out spare rooms in their only or main home without a liability to tax arising. Broadly, as long as income is below the annual threshold, it does not need to be reported to HMRC.…Read More

  • May questions and answers

    Newsletter issue - May 2019.Q. I have realised that I made a mistake on my most recent VAT return. What do I need to do to put things right? A. You can make adjustments to correct errors on past returns if the error: was below the reporting threshold (broadly, less than £10,000, or up to…Read More

  • May key tax dates

    Newsletter issue - May 2019.2 - Last day for car change notifications in the quarter to 5 April - Use P46 Car 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/5/2019 31 - Deadline for copies of P60 to be issued to employees for 2018/19Read More

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