Newsletter 99

SCOTTISH INCOME TAX RATES AND SCOTTISH BUDGET

From April 2016, the Scottish Parliament will have the power to set its own rate of income tax to fund spending by the Scottish government - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

SCOTTISH INCOME TAX RATES AND SCOTTISH BUDGET

From April 2016, the Scottish Parliament will have the power to set its own rate of income tax to fund spending by the Scottish government - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

We would like to wish all our Clients, Friends and Colleagues

Season's Greetings

&

a Prosperous New Year

- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

Headlines from our latest newsletter.  Please click on any of the links below for more information :

SCOTTISH INCOME TAX RATES AND SCOTTISH BUDGET

From April 2016, the Scottish Parliament will have the power to set its own rate of income tax to fund spending by the Scottish government - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Scottish

AUTUMN STATEMENT 2015 - KEY ANNOUNCEMENTS FOR PARENTS

A number of changes to tax credits and Universal Credit were announced in the July Budget but the Chancellor has scrapped some of the changes following a defeat of the proposals by the House of Lords - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Parents

AUTUMN STATEMENT 2015 - KEY ANNOUNCEMENTS FOR EMPLOYERS AND COMPANY CAR DRIVERS

The scale of charges for working out the taxable benefit for an employee who has use of an employer provided car are now announced well in advance - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Cars

AUTUMN STATEMENT 2015 - KEY ANNOUNCEMENTS FOR BUY TO LET LANDLORDS AND THOSE WITH SECOND HOMES

Higher rates of SDLT will be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Landlords

ADVISORY FUEL RATES

New company car advisory fuel rates have been published which took effect from 1 December 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Advisory

‘PAYROLLING' BENEFITS IN KIND

From April 2016 the government is introducing a voluntary framework to allow employers to payroll most employee benefits in kind (benefits) rather than report them at the end of the tax year on a form P11D - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Payrolling

GUIDANCE ON USE OF ZERO HOURS CONTRACTS

The government has published guidance for employers on the use of zero hours contracts - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Guidance

DEADLINE FOR FINAL IR35 PAYMENTS AND RETURNS

The ‘IR35’ rules are designed to prevent the avoidance of tax and national insurance contributions (NIC) through the use of personal service companies and partnerships - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

We would like to wish all our Clients, Friends and Colleagues

Season's Greetings

&

a Prosperous New Year

- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

We would like to wish all our Clients, Friends and Colleagues

Season's Greetings

&

a Prosperous New Year

- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

We would like to wish all our Clients, Friends and Colleagues

Season's Greetings

&

a Prosperous New Year

- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-99#Deadline

Looking forward to the new flat-rate State Pension?

To ask any question about the new flat-rate State Pension scheme seems to suggest a straightforward answer. Everyone will get the same amount won’t they?

The answer to the latter question is no. The amount you will get will depend upon a number of factors including:

how many qualifying years you have on your National Insurance (NI) record

how many years you have built up an entitlement to the additional State Pension under the current system

how many years you may have been paying lower NI contributions because you have been in a salary-related workplace pension scheme or you received NI rebates which went into a personal pension plan.Either of these scenarios had the effect of 'contracting out' a person from full entitlement under the State Pension scheme.

The new State Pension scheme applies to everyone who reaches State Pension age on or after 6 April 2016. The full State Pension has been set at £155.65. People who have no contribution record under the current system will have to obtain 35 qualifying years of NI credits on their record to give them the flat-rate amount.

However, for individuals who have already built up an NI record (which is nearly everyone reading this article) there are transitional provisions which take into account the NI record accrued up to 5 April 2016. This is a very reasonable complication to have in moving to the new system. Otherwise, people who have accrued a substantial entitlement under the current system of basic and additional State Pension would be treated very differently depending on whether they reach State Pension Age on the 5 April 2016 (and thus receive a pension under the current system) or on the 6 April 2016 (and therefore receive a pension under the new system).

Under the transitional provisions, your NI record before 6 April 2016 is used to calculate your ‘starting amount’ for the new system at 6 April 2016. Your starting amount will be the higher of either:

the amount you would get under the current State Pension rules (which includes basic State Pension and additional State Pension)

the amount you would get if the new State Pension had been in place at the start of your working life.

For many of those reaching State Pension age in the near future, the transitional provisions offer the best of the current and new systems. Employees who have built up a significant entitlement to the additional State Pension will retain their entitlement. People who have been self-employed for most of their working lives may have little or no entitlement to the additional State Pension and thus will benefit from the new State Pension rules.

Newsletter 98

Headlines from our latest newsletter.  Please click on any of the links below for more information :

AUTUMN STATEMENT 2015 EXPECTATIONS

Tax credits have been in the news and this is one issue the Chancellor George Osborne is expected to review in the Autumn Statement - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#Autumn

UK TAX GAP FALLS TO 6.4%

The government has announced that the tax gap for 2013/14 was 6.4% of tax due - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#Tax

CBI WARNS GOVERNMENT NOT TO ‘TINKER’ WITH PENSIONS TAX

The first industry-wide survey since the general election sets out businesses’ pensions priorities this Parliament - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#CBI

HMRC’S LANDLORD CAMPAIGN NETS £50 MILLION

HMRC have announced that a campaign aimed at helping residential landlords get their tax affairs in order has brought in more than £50 million making it one of their most successful voluntary disclosure opportunities - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#HMRC

IDENTITY THEFT - ICO GUIDANCE

Following the data security incident at TalkTalk with customer details being ‘hacked’ and many customers remaining unsure if they have been affected, an ICO spokesperson stated:

Any time personal data is lost there can be a risk of identity theft - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#Identity

'STATE PENSION TOP UP’ SCHEME

A new scheme is being launched offering anyone reaching State Pension age before 6 April 2016 a chance to increase their State Pension by up to £25 a week - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#State

WORKPLACE PENSIONS - DON’T IGNORE IT

The Department of Work and Pensions and the Pensions Regulator have launched a new advertising campaign promoting auto enrolment which aims to change the country’s perception of pensions in the workplace - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#Workplace

NMW OFFENDERS NAMED AND SHAMED

Over 100 employers who have failed to pay their workers the National Minimum Wage (NMW) have been named and shamed - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-98#NMW

Newsletter 97

Headlines from our latest newsletter.  Please click on any of the links below for more information:

DEADLINE FOR ‘PAPER’ SELF ASSESSMENT TAX RETURNS

For those individuals who have previously submitted ‘paper’ self assessment tax returns the deadline for the 2014/15 return is 31 October 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-97#Deadline

AUTUMN STATEMENT DATE ANNOUNCED

The government has announced that the date of the Autumn Statement will be 25 November 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-97#Autumn

5p CARRIER BAG CHARGE COMES INTO FORCE

Carrier bag charges will begin in England on 5 October 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-97#Carrier

MAKING TAX SIMPLER FOR CHARITIES

In September HMRC updated their detailed guidance notes which outline how the tax system operates for charities - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-97#Tax

GOVERNMENT TOUGHENS NATIONAL MINIMUM WAGE (NMW) SANCTIONS

The government has announced a package of measures including tougher NMW penalties to ensure employees receive the pay they are entitled to - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-97#Government

BUSINESS RATES APPEAL PROPOSALS ARE A 'BARRIER TO JUSTICE' The Enterprise Bill is currently going through Parliament. Part of the Bill reforms the business rates appeals system - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-97#Business

Newsletter 96

Headlines from our latest newsletter.  Please click on any of the links below for more information :

TAXING DIVIDENDS FROM APRIL 2016

In the Summer 2015 Budget, George Osborne announced fundamental changes to the way in which dividends are taxed and HMRC have issued a factsheet setting out examples of how the new regime will work - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Taxing

NATIONAL MINIMUM WAGE RATES AND NATIONAL LIVING WAGE

The National Minimum Wage (NMW) is a minimum amount per hour that most workers in the UK are entitled to be paid. NMW rates increases come into effect on 1 October 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#National

ATED UPDATED PROCEDURES

Since 2013 a range of measures have been introduced to discourage the holding of residential property in the UK via companies, partnerships and collective investment schemes - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Ated

HMRC TARGETS WEALTHY ‘TAX CHEATS’ IN SCOTLAND

A taskforce which aims to tackle wealthy ‘tax cheats’ who are living beyond their means in Scotland has been launched by HMRC - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#HMRC

AUTO ENROLMENT ‘ENGAGEMENT’ AND CALCULATION TOOL

The Pensions Regulator (‘TPR’) has announced that following consultation they will develop a basic automatic enrolment tool. The basic tool should be available to download from TPR’s website by the end of 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Auto

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published which took effect from 1 September 2015
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Advisory

COMPANY FOR SALE

PROJECT HERCULES

Walker Thompson has been retained to identify a buyer for a wholesale and retail, designer and distributor of wood burning stoves based in the south of England
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Company

TAXING DIVIDENDS FROM APRIL 2016

In the Summer 2015 Budget, George Osborne announced fundamental changes to the way in which dividends are taxed and HMRC have issued a factsheet setting out examples of how the new regime will work
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Taxing

TAXING DIVIDENDS FROM APRIL 2016

In the Summer 2015 Budget, George Osborne announced fundamental changes to the way in which dividends are taxed and HMRC have issued a factsheet setting out examples of how the new regime will work
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-96#Taxing

Newsletter 95

Headlines from our latest newsletter.  Please click on any of the links below for more information :

TAX-FREE CHILDCARE TO LAUNCH IN 2017 FOLLOWING COURT RULING

The government has welcomed a judgment from the Supreme Court that found the proposals for delivering Tax-Free Childcare to be lawful - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#Childcare

TIME TO PAY ARRANGEMENTS – MANDATORY DIRECT DEBIT

Where a taxpayer has difficulty paying their tax liabilities HMRC may agree ‘time to pay arrangements’ whereby the taxpayer agrees to pay off the amount owing by instalments after the due date - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#Mandatory

NMW CAMPAIGN TARGETS HAIR AND BEAUTY SECTOR

HMRC are targeting employers in the hairdressing and beauty sectors who pay their staff below the national minimum wage (NMW) - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#NMW

LATEST JOB MARKET STATISTICS

The Office for National Statistics (ONS) has released figures showing that the UK employment rate has dropped by 67,000 when compared to the three months to February 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#Statistics

ALCOHOL WHOLESALER REGISTRATION SCHEME

The Alcohol Wholesaler Registration Scheme (AWRS) is being introduced on 1 October 2015 by HMRC to tackle alcohol fraud - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#Alcohol

FARMERS AVERAGING OF PROFITS

It was announced in the March 2015 Budget that the government plans to extend the period over which self-employed farmers can average their profits for income tax purposes from two years to five years - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#Farmers

PENSION SCHEMES FOR AUTO ENROLMENT

The Pensions Regulator (TPR) has published some guidance aimed at the 1.3 million small and micro employers who are preparing for pensions auto enrolment - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-95#Pension

NEWSLETTER 94

Headlines from our latest newsletter.  Please click on any of the links below for more information:

BUDGET ANNOUNCEMENTS

George Osborne delivered his second budget of the year on 8 July 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Budget

CHANGES FOR 'BUY TO LET' LANDLORDS

It was announced in the Budget that the government will restrict the amount of income tax relief landlords can claim on residential property mortgage interest costs to the basic rate of income tax - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Changes

ANNUAL INVESTMENT ALLOWANCE CERTAINTY

The Chancellor announced that Annual Investment Allowance will be set permanently at £200,000 from 1 January 2016 providing certainty for businesses - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Annual

THE FAMILY HOME AND IHT

The government has announced the introduction of a new transferrable nil rate band for the family home. The additional band will apply where a residence is passed on death to direct descendants such as a child or a grandchild - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Family

NATIONAL LIVING WAGE

The government has announced the introduction of a new National Living Wage (NLW) for working people aged 25 years and above - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#National

PAYE LATE FILING PENALTIES

HMRC have now issued the first in-year penalties notices to employers with fewer than 50 employees who missed the deadline for sending PAYE information to HMRC - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#PAYE

CLAIMING THE MARRIAGE ALLOWANCE

The Low Incomes Tax Reform Group published updated guidance on how to apply for the new transferable personal allowance, known as the marriage allowance, for married couples and civil partners which came into effect on 6 April 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Claiming

PHISHING EMAILS HMRC EXAMPLES

HMRC have updated their list of examples of emails, letters, text messages and bogus calls used by 'scammers' and fraudsters to get taxpayers personal information - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Phising

HMRC CHECKING EMPLOYEES HAVE PAID THE CORRECT AMOUNT OF TAX ON THEIR PAY

HMRC have started to check that people have paid the right amount of tax in 2014/15, a process they refer to as the annual End of Year Reconciliation process - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#HMRC

STATISTICS SHOW EMPLOYMENT RISE IN 2015

The Office for National Statistics (ONS) has released figures showing that UK employment rates were up between February and April compared to the three months to January 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-94#Statistics

Tax Time to Pay Arrangements – HMRC Announce Mandatory Direct Debit

HMRC can use discretionary powers to agree to payment of a debt by instalments after the due date, where the customer is genuinely unable to pay by the due date and is able to commit to agreed payments to bring their tax up to date. 

Direct Debit has always been the preferred method of payment for any regular time to pay arrangement, however from 3 August 2015 payment by direct debit will be mandatory.

HMRC say that they are moving to direct debit by default because:

• It is more cost effective  and more secure than other payment methods
• It removes the chance that the customer will forget to make payment
• Payments are more likely to be correctly allocated
• Reduces the need for subsequent customer contact, saving time for the customer and HMRC
• Direct Debit scheme includes a guarantee to protect the customer

HMRC say that they recognise that there will be exceptional circumstances where a customer is unable to set up a direct debit, perhaps because their bank account will not allow it. In such cases payment by other methods may be agreed.

HMRC state that it is not their intention to routinely revisit any existing non-direct debit agreements however for any new agreements we will expect the customer to agree to payment by direct debit.

NEWSLETTER 91

Headlines from our latest newsletter.  Please click on any of the links below for more information :

IT TAKES A TEAM TO PICK A PLUM

We are pleased to announce that Walker Thompson has recently assisted in the arrangements for the sale of Coventry IT company Plum Software Ltd to Australian based software specialist Praemium

BUDGET 2015

George Osborne presented the final Budget of this Parliament on Wednesday 18 March 2015

PERSONAL TAX RATES AND ALLOWANCES

For those born after 5 April 1938 the personal allowance will be increased to £10,600. For those born before 6 April 1938 the personal allowance remains at £10,660

TAX BANDS AND RATES FOR 2015/16

The basic rate of tax is currently 20%. The band of income taxable at this rate is being decreased from £31,865 to £31,785 so that the threshold at which the 40% band applies will rise from £41,865 to £42,385 for those who are entitled to the full basic personal allowance

STARTING RATE OF TAX FOR SAVINGS INCOME

From 6 April 2015, the maximum amount of an eligible individual’s savings income that can qualify for the starting rate of tax for savings will be increased from £2,880 to £5,000, and this starting rate will be reduced from 10% to 0%

PROPOSED PERSONAL ALLOWANCES TO COME

The Chancellor announced that the personal allowance will be increased to £10,800 in 2016/17 and to £11,000 in 2017/18

PERSONAL SAVINGS ALLOWANCE

The Chancellor announced that legislation will be introduced in a future Finance Bill to apply a Personal Savings Allowance to income such as bank and building society interest from 6 April 2016

HELP TO BUY ISA

The government has announced the introduction of a new type of ISA, the Help to Buy ISA, which will provide a tax free savings account for first time buyers wishing to save for a home

PENSION FREEDOMS FOR THOSE WITH ANNUITIES

The Chancellor has announced a new flexibility for people who have already purchased an annuity

NATIONAL MINIMUM WAGE RISES

The National Minimum Wage (NMW) is a minimum amount per hour that most workers in the UK are entitled to be paid

AUTO ENROLMENT GUIDANCE FOR SMALL EMPLOYERS

The Pensions Regulator (TPR) has launched a new step-by-step guide to help small businesses get ready for their automatic enrolment duties

BUSINESS RATES SYSTEM - HAVE YOUR SAY

The government has launched a wide-ranging review of national business rates in England

Budget 2015

George Osborne presented the final Budget of this Parliament on Wednesday 18 March 2015.

In his speech the Chancellor reported ‘on a Britain that is growing, creating jobs and paying its way’.

Towards the end of 2014 the government issued many proposed clauses of Finance Bill 2015 together with updates on consultations. Due to the dissolution of Parliament on 30 March some measures will be legislated for in the week commencing 23 March, whilst others will be enacted by a Finance Bill in the next Parliament (depending on the result of the General Election).

The Budget proposes further measures, some of which may only come to fruition if the Conservative Party is in power in the next Parliament.

Our summary focuses on the issues likely to affect you, your family and your business. To help you decipher what was announced we have included our own comments. If you have any questions please do not hesitate to contact us for advice.

Main Budget tax proposals

• Increased personal allowances
• The introduction of a new Personal Savings Allowance
• Changes to ISAs including the introduction of a new type of ISA
  for First Time Buyers
• Changes to pensions
• Potential business rate reform in England
• Entrepreneur’s Relief – changes to qualifying conditions

See more at : http://www.walkerthompson.co.uk/Budget-2015

100% Submission

January 2015 saw the usual period of collating those last minute tax returns but for the tenth year running, we achieved a 100% submission for those returns where we had received all the necessary information.  Unfortunately there were a very small number of clients who for numerous reasons could not get information to us and who will unfortunately be receiving a £100 automatic penalty and a further penalty for late payment of any tax falling due for payment.

We urge every client to collate their information in good time before the January 31 deadline and now is a good time to put a note in the diary to let us have any information before Christmas.

Newsletter 89

Headlines from our latest newsletter.  Please click on any of the links below for more information :

GOVERNMENT PUBLISHES GUIDANCE ON NEW 'FIT FOR WORK' SERVICE

 The Government has published guidance on its new Fit for Work service, which aims to help tackle the problem of long-term sickness absence.
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#Government

ACCELERATED PAYMENT NOTICES

 HMRC have announced that they have secured almost all of the disputed tax due from the first group of tax avoidance scheme users to receive Accelerated Payment notices (APNs).
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#Accelerated

HMRC WARN OF PHISHING EMAIL SCAM

 HMRC are warning taxpayers to be wary of the latest in a long line of email phishing scams that claims taxpayers have ‘made mistakes while completing their last tax form application’.
- See more at:  http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#HMRC

AUTO ENROLMENT LETTERS AND UPDATED THRESHOLDS

 The Pensions Regulator (TPR) is to write to all small and micro businesses in the coming months as part of a new campaign to give them key information on auto enrolment, including when the duties affect their businesses.
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#HMRC

GOVERNMENT WANTS SUGGESTIONS FOR BUDGET 2015

 HM Treasury is encouraging groups, individuals and representative bodies to submit their ideas for consideration in advance of Budget 2015.
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#Budget

PENSION WISE

 The government has announced the launch of ‘Pension wise’ which will offer free and impartial guidance to people on the new pension freedoms which comes into effect in April.
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#Pension

STRONG DEMAND FOR NATIONAL SAVINGS ‘PENSIONER BONDS’

 The National Savings & Investments website and helpline are experiencing a high volume of enquiries following the launch of their 65+ Guaranteed Growth Bonds which are being referred to as ‘pensioner bonds’.
- See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-89?viewunapprovedrecord=true#Strong

Newsletter 88

Headlines from our latest newsletter.  Please click on any of the links below for more information:

CHANGES TO THE CONSTRUCTION INDUSTRY SCHEME (CIS)

The government has announced that it will implement a package of improvements to the CIS. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#Changes

VAT AND DIGITAL SERVICES

HMRC have issued some additional guidance for small businesses which supply digital services to consumers in other EU Member States. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#VAT

1,773 ‘HAPPY RETURNS’ AT CHRISTMAS

HMRC have reported that they received 1,773 online tax returns on Christmas Day, with the busiest time for online returns on 25 December between midday and 1pm, when 148 Yuletide returns were delivered electronically. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#Christmas

HOLIDAY PAY AND OVERTIME UPDATE

We have previously reported that in the judgment an Employment Appeal Tribunal (EAT) decided that holiday pay should reflect non-guaranteed overtime. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#Holiday

TAX ON THE DIVERTED PROFITS DUBBED THE NEW 'GOOGLE TAX'

The government has published draft tax legislation to implement the new tax on diverted profits which has been referred to as the ‘Google tax’. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#Tax

SOLICITORS’ TAX CAMPAIGN

Solicitors are being given the chance by HMRC to bring their tax affairs up to date or face tougher penalties, as part of a new tax campaign. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#Solicitors

RTI: FILING PENALTIES AND APPEALS

In the latest Employer Bulletin HMRC are reminding employers that they are about to issue penalty notices to those employers who have failed to meet their RTI filing obligations. - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-88#RTI