Newsletter 118

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

GET READY FOR THE NEW DATA PROTECTION RULES

The government is to introduce new data protection rules under the General Data Protection Regulation (GDPR) which takes effect from 25 May 2018 - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#Data

ADVISORY FUEL RATES FOR COMPANY CARS

New company car advisory fuel rates have been published which took effect from 1 September 2017 - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#Fuel

HMRC ONLINE FORUM AND WEBCHAT

HMRC have announced the introduction of a new online tax forum and webchat service for small businesses - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#HMRC

GUIDANCE FOR EMPLOYERS

HMRC have issued their latest guidance to employers in the August edition of the Employer Bulletin - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#Guidance

PENSIONS AUTO ENROLMENT COMPLIANCE

The Pensions Regulator (TPR) has begun carrying out employer spot checks to make sure employers are complying with their automatic enrolment duties and that they are giving their staff the workplace pensions they’re entitled to - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#Pensions

AUTO ENROLMENT FOR NEW EMPLOYERS

Under pensions auto enrolment employers have to enrol qualifying employees into a workplace pension - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#Auto

CHILDCARE SERVICES COMPENSATION

The government are offering compensation to those who have been affected by problems with the implementation of Tax-Free Childcare - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-118#Childcare

Newsletter 117

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

NEW TIMETABLE FOR MAKING TAX DIGITAL

The government has announced a revised timetable for the introduction of Making Tax Digital for Business (MTDfB) - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-117#New

TAYLOR REVIEW OF EMPLOYMENT PRACTICES

The long awaited Taylor Review of employment practices suggests that a national strategy is needed to help provide security in such areas as wages, quality of employment, education and training, working conditions, work life balance and the ability to progress at work - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-117#Taylor

AUTOMATIC ENROLMENT REACHES 8 MILLION

The Pensions Regulator (TPR) has confirmed than eight million employees have signed up for a workplace pension since the launch of automatic enrolment - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-117#Automatic

LATEST LABOUR MARKET STATISTICS

The latest labour market statistics for the period March to May 2017 showed a 175,000 rise in employment and 64,000 fall in unemployment - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-117#Latest

HMRC GENUINE AND PHISHING/BOGUS EMAILS AND CALLS

HMRC have issued an update of their guidance on how to recognise genuine HMRC contact be it via email or text - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-117#HMRC

CHARITIES BOUND BY NEW FUNDRAISING PREFERENCE SERVICE

A new service is now available for individuals who want to limit the contact they receive from charities. The Fundraising Preference Service (FPS) should give individuals greater control over how and when charities can contact them - see more at : http://www.walkerthompson.co.uk/newsletters/Newsletter-117#Charities

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