Newsletter 116

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

SCAM AND PHISHING EMAILS AND TEXTS

We are aware of many instances of scam emails and texts being sent out by fraudsters who are purporting to be from official government agencies, such as HMRC or Companies House. The emails and texts may look genuine, containing official looking logo’s and addresses in order to dupe an innocent individual to open email links or attachments.

HMRC and Companies House never send out emails and texts asking recipients to follow website links and enter personal details into official looking websites or to open email attachments. You should always exercise extreme caution before clicking on any such attachment or link. If you do so you may be providing personal data such as private bank details to a thief.

QUEEN’S SPEECH AND PROPOSED LEGISLATION

The Queen delivered the 2017 Queen’s Speech on 21 June which set out the government’s agenda for the coming parliamentary session. The speech outlined the government’s proposed policies and legislation - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#Queen

SIMPLIFYING CORPORATION TAX

The Office for Tax Simplification has published their recommendations on simplifying the corporation tax computation - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#Simplifying

EMPLOYMENT RELATED SECURITIES RETURN DEADLINE

HMRC are advising that there have been technical issues with their Employment Related Securities (ERS) annual returns online service - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#Employment

LAND TRANSACTION TAX

From April 2018, Land Transaction Tax (LTT) will replace Stamp Duty Land Tax (SDLT) in Wales. Land and Buildings Transaction Tax (LBTT) already applies in Scotland - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#Employmenthttp://www.walkerthompson.co.uk/newsletters/Newsletter-116#Land

HOLIDAY ENTITLEMENT

Now is the time of year when many of us turn our thoughts to holidays and it is important to get holiday entitlement and holiday pay right - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#Holiday

LATEST GUIDANCE FOR EMPLOYERS

HMRC have issued the latest version of the Employer Bulletin. This edition has articles on a number of issues - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#Latest


ICO WARNING AS BUSINESS FINED £60,000 FOLLOWING CYBER ATTACK

The Information Commissioner’s Office (ICO) is warning SMEs to take care or face a fine. The warning comes after a company which suffered a cyber attack was fined £60,000 - See more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-116#ICO

Apple hit with €13bn tax bill

News of the supposedly good deal struck between Apple Corporation and Ireland is perhaps not altogether surprising. The allegation that tax underpaid could amount to 13bn Euros apparently “sends a clear message that EU member states cannot give unfair tax benefits to selected companies” according to EU Competition Commissioner Margrethe Vesteger.

Ms Vesteger was a former member of the Danish Parliament, the same country which offered Goldman Sachs, Citigroup, Merrill Lynch and others, arrangements which deprived Denmark of substantial tax revenues.

With the banks’ help, stock owners avoid paying Danish authorities the dividend taxes they would otherwise owe on their holdings of companies like Maersk, Novo Nordisk, Danske Bank, Tryg and Carlsberg, among others.

Clearly it would seem that the principles of “Do as I say, not as I do” are alive and well and living in the EU.

Newsletter 105

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

RESIDENTIAL PROPERTY INCOME AND INTEREST RELIEF

The government has issued guidance and examples on the restriction of income tax relief for interest costs incurred by landlords of residential properties - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Relief

TPR LATEST PENSIONS AUTO ENROLMENT AWARENESS

According to the latest research by the TPR, based on surveys carried out between February and April 2016, the understanding amongst small employers of their duties under pensions auto enrolment saw a significant rise from 68% to 81%
- See more at: http://www.walkerthompson.co.uk/Newsletter-105#Pensions

HMRC LATEST ‘TAX CHEAT’ TARGETS

HMRC have launched a new taskforce to tackle wealthy tax cheats who are living beyond their means in Northern Ireland and expect the campaign to recover approximately £18 million - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Targets

LATEST ONS LABOUR MARKET STATISTICS

The ONS has announced that in the three months from March to May 2016, the number of people in work increased - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Statistics

UPDATED STUDENT LOAN DEDUCTION GUIDANCE

HMRC have issued updated guidance to employers on how to deal with student loan deductions via the PAYE system - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Student

WORKING IN HOT TEMPERATURES

ACAS have some guidance on ‘hot weather’ working - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Hot

CHARITY NEWS

Annual returns

The Charity Commission, which is the relevant body for charities registered in England and Wales, has announced that its latest annual return is now available and can be found on GOV.UK - See more at: http://www.walkerthompson.co.uk/Newsletter-105#News

LATEST ONS LABOUR MARKET STATISTICS

The ONS has announced that in the three months from March to May 2016, the number of people in work increased - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Statistics

RESIDENTIAL PROPERTY INCOME AND INTEREST RELIEF

The government has issued guidance and examples on the restriction of income tax relief for interest costs incurred by landlords of residential properties - See more at: http://www.walkerthompson.co.uk/Newsletter-105#Relief

Newsletter 104

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

UK SET TO LEAVE THE EU

With the referendum votes counted and the United Kingdom vote to exit the European Union there will be many issues to consider - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#UK

BANKS AND CHARITIES URGED TO DO MORE TO PROTECT SCAM VICTIMS

The Chartered Trading Standards Institute (CTSI) has called for banks and charities to take greater responsibility for those who may be vulnerable to scams - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#Banks

CONTRACTORS MONTHLY RETURNS

From April 2016 changes have been made to the Construction Industry Scheme (CIS). Part of the reforms were that contractors must file their monthly returns online - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#Contractors

HAVE YOU ACCESSED YOUR PERSONAL TAX ACCOUNT?

HMRC are advising employers that their employees may benefit from accessing their Personal Tax Account - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#Tax

HOLIDAY ENTITLEMENT

Now is the time of year when many of us turn our thoughts to holidays and it is important to get holiday entitlement and holiday pay right - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#Holiday

LABOUR MARKET STATISTICS

The latest ONS labour market statistics show a 55,000 rise in employment in the three months to April 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#Labour

UK SET TO LEAVE THE EU

With the referendum votes counted and the United Kingdom vote to exit the European Union there will be many issues to consider - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-104#UK

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

Walker Thompson Client Wins Major Regional Award

On 21st April 2016, Kim Knowles & Sherod Williams were invited to join ND&P Solicitors Ltd – Neil Davies & Partners at the Birmingham Law Society Legal Awards dinner at the International Convention Centre in the heart of Birmingham.

This prestigious awards evening brought together over 500 legal professionals from Birmingham and the wider West Midlands region to honour & reward individuals & firms across twelve hotly contested categories. The Birmingham Law Society is rare in that it embraces all facets of the local legal world so includes within its membership not only solicitors but barristers, legal executives, paralegals & in house commercial legal teams.

We were entertained by “Britain’s Got Talent” finalists The Neales before the awards were made by the evening’s host, former MP, journalist & author Gyles Brandreth. With a background of lawyers in his family, Gyles performed magnificently in his address to the audience before being invited to present the main awards of the evening.

Kim & Sherod have supported ND&P Solicitors from the early beginnings of the firm and we were all the more delighted when it was announced that their client was the winner in the Law Firm of the Year category for smaller firms offering niche services. ND&P offer bespoke legal solutions in matters of insolvency & commercial litigation to a diverse & international base of clients.

Our warmest congratulations go to the Partners and Staff at ND& P Solicitors

Enjoying the mood of success

(L-R)Sukhbir Mall & Neil Davies – Directors of ND&P Solicitors, Suki Mann - Associate Solicitor & Sherod Williams- Walker Thompson Accountants

Newsletter 100

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

DIVIDEND ALLOWANCE AND RATES OF TAX

Further details have been provided of the new rates of income tax on dividends and the new Dividend Allowance which will apply to dividends received on or after 6 April 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#Dividend

NATIONAL LIVING WAGE - EMPLOYERS ADVISED TO GET READY

The Department for Business, Innovation and Skills (BIS) is advising employers to begin preparing for the introduction of the National Living Wage (NLW) which comes into effect from 1 April 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#National

SCOTTISH BUDGET - INCOME TAX AND LBTT

The Scottish Government set out tax and financial plans for the future in their draft Budget on 16 December 2015 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#Scottish

SELF ASSESSMENT DEADLINE APPROACHING

HMRC have reported that:

• a record breaking 24,546 people submitted their tax return online on New Year’s Eve - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#Deadline

HMRC INTRODUCE ADVANCE ASSURANCE FOR R&D

HMRC have introduced Advance Assurance for companies that claim Research and Development (R&D) tax relief - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#HMRC

TAX HELPLINE FOR THOSE AFFECTED BY SEVERE WEATHER AND FLOODING

HMRC have set up a helpline (number is 0800 904 7900) and will enable anyone affected to get practical help and advice on a wide range of tax problems they may be facing - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#Flooding

NUISANCE CALL COMPANIES WARNED TO EXPECT MORE FINES

The Information Commissioner’s Office (ICO) is warning companies making nuisance calls to expect more fines in 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#Nuisance

DIVIDEND ALLOWANCE AND RATES OF TAX

Further details have been provided of the new rates of income tax on dividends and the new Dividend Allowance which will apply to dividends received on or after 6 April 2016 - See more at: http://www.walkerthompson.co.uk/newsletters/Newsletter-100#Dividend