Tax tips and news
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Company vans update
Newsletter issue - December 2018A charge to income tax will generally arise if a company van is made available, by reason of the employment, to an employee or to a member of his or her family or household. It must be made available without a transfer of ownership from the employer to the employee. Since…Read More
VAT reverse charge in the construction industry
Newsletter issue - December 2018Autumn Budget 2018 announced a new measure, designed to counter fraud in the construction industry, which has seen gangs of criminal traders artificially extending the chain of supply of labour services, then failing to account for all the output VAT due to HMRC by collecting the VAT on the supplies (sales)…Read More
PGLs for employers
Newsletter issue - December 2018The Department for Education has launched a new Student Loan product known as Postgraduate Loans (PGLs). From April 2019, individuals will be able to start loan repayments of this type through PAYE, so employers need to be aware of their new obligations. Broadly, if an individual has a PGL: HMRC will…Read More
HMRC warn of tax scams targeting university students
Newsletter issue - December 2018HMRC have published a series of warnings that university students are being targeted by scammers with fake tax refunds in an effort to steal money and personal details. The scammers are using seemingly legitimate university email addresses (for example '@uc.ac.uk') in order to avoid detection, and HMRC have received thousands of…Read More
December questions and answers
Newsletter issue - December 2018Q. I am aware that there is to be a temporary increase in the limit for claiming Annual Investment Allowances. Are all assets eligible for the allowance? A. Unfortunately not all expenditure on plant and machinery will qualify for annual investment allowances (AIA). The most common examples of assets that are…Read More
December key tax dates
Newsletter issue - December 201819/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/12/2018 30 - Deadline for 2017/18 self-assessment online returns to be filed if you are an employee and want tax underpaid to be collected by adjustment to your 2019/20 PAYE code (for underpayments of up to £3,000 only)Read More