Newsletter 103

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

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published which took effect from 1 June 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#Advisory

PAYE 3 DAYS GRACE AND RISK BASED PENALTIES TO CONTINUE

HMRC have confirmed, in their updated guidance, that the three day easement and risk assessed approach to issuing penalties will continue to apply for 2016/17 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#PAYE

VAT FLAT RATE SCHEME GUIDANCE UPDATED

HMRC have issued updated guidance on the operation of the VAT Flat Rate Scheme which allows taxpayers to calculate the VAT payable by applying a flat rate percentage to their VAT inclusive turnover, rather than netting off output and input VAT due on sales and purchases - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#VAT

NAO REPORT SAYS HMRC'S CUSTOMER SERVICE QUALITY 'COLLAPSED'

According to a report by the National Audit Office (NAO) the quality of service at HMRC 'collapsed' over an 18 month period between 2014 and 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#NAO

HMRC UPDATE PHISHING SCAM ADVICE

HMRC have updated their guidance to taxpayers on how to spot phishing scam emails - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#Phishing

HMRC URGES CLAIMANTS TO RENEW TAX CREDITS ONLINE

HMRC are urging people to renew their tax credits claim well before the 31 July deadline - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#Renew

P11D DEADLINE APPROACHING

The forms P11D, and where appropriate P9D, which report details of expenses and benefits provided to employees and directors for the year ended 5 April 2016, are due for submission to HMRC by 6 July 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-103#P11D