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12 February 2018

The draft National Minimum Wage (Amendment) Regulations 2018 have been laid before Parliament and are due to come into force on 1 April 2018. The regulations will increase the various rates of the national minimum wage (NMW) and national living wage (NLW) as follows:

  • the NLW rate for workers aged 25 and over will rise from £7.50 to £7.83 per hour
  • the NMW standard rate for...
07 February 2018

HMRC has issued a press release detailing the number of online filings made for the 2016-17 self assessment returns. The use of the online service continues to grow year on year. In this year a total of over 9.9 million online filings were made by the 31 January 2018 deadline. A further 770,000 tax returns were submitted using paper returns. This means that 93.5% of returns (10.7 million...

07 February 2018

Many taxpayers supplement their income by selling services online. This is often known as the 'sharing economy' or the 'peer-to-peer economy' and usually involves taxpayers renting out something they are not using such as their house (using websites such as AirBNB), car, car parking space or other personal equipment.

It can also involve taxpayers finding customers using specialist...

07 February 2018

Rollover relief is a valuable relief that allows for a delay in the payment of capital gains tax (CGT) on gains when you sell or dispose of certain assets and use all or part of the proceeds to buy new assets. The relief means that the tax on the gain of the old asset is postponed. The amount of the gain is effectively rolled over into the cost of the new asset and any CGT liability is...

07 February 2018

HMRC has published a news release to explain how they are working to stop taxpayers receiving fraudulent text messages from reaching their phones. Scammers have been found to be using text message or SMS phishing scams to contact taxpayers.

These scams have been increasing as fraudulent text messages can appear more legitimate than fraudulent emails. Research has found that people are 9...

07 February 2018

If you move abroad it can be advantageous to continue paying UK National Insurance Contributions (NICs) in order to preserve your entitlement to the State Pension and other benefits. If you are working in the European Economic Area the rules depend on your situation. The EEA includes all EU countries as well as Iceland, Liechtenstein and Norway. The same rules apply in Switzerland.

The...

07 February 2018

The Notification of Vehicle Arrivals (NOVA) is an online notification system for vehicles entering the country for permanent use on UK roads. There is a separate process for personal imports from outside the EU and for the temporary importations of a motor vehicle.

Under the system anyone who brings a vehicle into the UK is required to notify HMRC within 14 days and any VAT due will...

05 February 2018

The Minister for Disabled People, Health and Work has launched a new campaign to encourage more retail employers to sign up to its trailblazing “Disability Confident” employer scheme, to increase the number of disabled people in the workforce. The government aims to see one million more disabled people in work by 2027.

Around 123,000 vacancies currently exist in the retail and...

05 February 2018

The Disclosure and Barring Service (DBS) has introduced new identity checking guidelines for standard and enhanced disclosure checks. The new guidelines have been running in parallel with the previous guidelines since October 2017. However, the previous guidelines have now ceased to apply, and employers must use the new version.

The change is being introduced so that the DBS’s identity...

31 January 2018

Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a proper record of all donations to record them on their tax return. Donations that are made through the Gift Aid scheme allow for the recipient charity to claim 25p worth of tax relief on every pound donated. Higher rate and additional rate taxpayers are eligible to claim relief on the difference...

31 January 2018

As a general rule there is no CGT payable on the disposal of a property which has been used as the main family residence. Conversely, an investment property which has never been used will not qualify for relief. This relief from CGT is commonly known as private residence relief (PRR).

It is increasingly common for taxpayers to own more than one home and there are a number of issues that...

31 January 2018

Taxpayers that have not yet filed their 2016-17 self-assessment returns will have been charged an automatic £100 penalty for late submission. The penalty applies from 1 February 2018 even if no tax was due or the tax due was paid on time.

In some cases, it can be possible to appeal against any penalty on the grounds of having a good reason for sending in a late return. However,...

31 January 2018

HMRC revealed that, as of 24 January 2018, there remained over 3 million taxpayers who had not yet submitted their 2016-17 self-assessment returns. This left a lot of people with a lot of work to do in the final week before the submission deadline.

Any taxpayers who missed the filing deadline will receive a £100 fixed penalty if their return is up to 3 months late, regardless of whether...

31 January 2018

There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for certain donations made to registered charities or community amateur sports club (CASC) as well as capital allowances for giving away equipment that has been used by your company.

There are also special rules if your company temporarily transfers an employee to work...

31 January 2018

Employees who use their own uniforms, work clothing and tools for work can sometimes claim tax relief for the associated costs. It is possible to claim for the cost of repairing or replacing small tools you need to do your job as an employee (for example, scissors or an electric drill), or cleaning, repairing or replacing specialist clothing (for example, a uniform or safety boots). However,...

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