News


Tax Diary March/April 2020
26/02/2020
1 March 2020 - Due date for Corporation Tax due for the year ended 31 May 2019. 2 March 2020 – Self assessment tax for 2019/19 paid after this date will incur a 5% surcharge. 19 March 2020 - PAYE and NIC deductions due for month ended 5 March 2020. (If you pay your tax electronically the due date is 22 March 2020) 19 March 2020 - Read more...


Employer toolkit for EU Settlement Scheme published
20/02/2020
Following Brexit, the government has published an updated toolkit for employers on how to support their employees who are EU citizens (including EEA and Swiss citizens) to apply to stay in the UK. The content includes print and digital fact sheets, leaflets and posters covering the key areas of the EU Settlement Scheme, i.e. eligibility, Read more...


Change to the off-payroll working rules
20/02/2020
As part of a review into changes to the operation of the off-payroll working rules (IR35), HMRC has announced that the changes will only apply to payments made for services provided on or after 6 April 2020. Previously, the rules would have applied to any payments made on or after 6 April 2020, regardless of when the services were carried Read more...


Could you claim the marriage allowance?
19/02/2020
If you are entitled to the marriage allowance and have not yet applied, you could receive a payment of up to £1,150 from HMRC. HMRC used the occasion of Valentine’s Day to remind couples to make a claim. It is estimated that whilst 1.78 million couples have already claimed the Marriage Allowance, there are still more than 2 Read more...


Budget date re-confirmed
19/02/2020
After a tumultuous few days in politics, it has been confirmed by the new Chancellor of the Exchequer, Rishi Sunak that the Budget will take place as planned on Wednesday 11 March 2020. There has been fevered press speculation that the new Chancellor might delay the Budget date to give him more time to prepare. Rishi Sunak was previously Read more...


Tax if you return to the UK
19/02/2020
There are tax implications that you will need to consider if you previously left the UK to live abroad and are now returning to live and work in the UK or are considering such a move. In most cases, if you have returned to live in the UK, you will be classed as resident in the UK and you will be required to pay UK tax on your UK income Read more...


Rent a room relief 2019-20
19/02/2020
The rent-a-room scheme is a set of special rules designed to help homeowners who rent-a-room in their home. The current tax-free threshold of £7,500 per year has been in place since 6 April 2016. If you are using this scheme you should ensure that rents received from lodgers during the current tax year do no exceed £7,500. The Read more...


Student and postgraduate loans
19/02/2020
If you have a student loan, have finished your studies and entered the workforce you must begin to make loan repayments from the April after you have finished your studies or when your income begins to exceed the annual threshold. The annual threshold amounts are currently £18,935 for plan 1 and £25,725 for plan 2. The Read more...


PAYE payment dates
19/02/2020
This article is a reminder to payroll staff about the electronic PAYE payment dates. The due date for electronic PAYE payments falls on the 22nd of the month and when a payment is made electronically, a payment on the day usually suffices. However, where the due date falls on a non-banking day (weekend or bank holidays), HMRC must have Read more...


New bandings for electric vehicles
19/02/2020
From 6 April 2020, the car and car fuel benefit calculations are changing with the introduction of 11 new bands for ultra-low emission vehicles (ULEVs) including a separate zero emissions band. If a car has a CO2 emission figure of 1-50g/km employers will need to provide the car’s zero emission mileage. This is the maximum distance Read more...

The latest news on changes in taxation – if you would like to talk about any of this in more depth, please contact us.

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