Monthly Archives: August 2017

1 August 2017 - Due date for Corporation Tax due for the year ended 31 October 2016. 19 August 2017 - PAYE and NIC deductions due for month ended 5 August 2017. (If you pay your tax electronically the due date is 22 August 2017) 19 August 2017 - Filing deadline for the CIS300 monthly…

Making Tax Digital (MTD) is the government’s latest attempt to fully digitise the process of collecting data from taxpayers so they can speed up the process of calculating how much tax you owe. Until recently, we were facing radical changes to the tax system to accommodate this objective. Businesses (including landlords) were to be required…

Many director shareholders take a minimum salary and any balance of remuneration as dividends. This tends to reduce National Insurance Contributions, and in some case Income Tax. The planning strategy is to pay a salary at a level that qualifies the director for State benefits, including the State Pension, but does not involve payment of…

There has been a long running tax case rumbling through the lower courts on the use of a device called an Employee Benefit Trust (EBT) by Glasgow Rangers Plc. HMRC have considered the use of the EBT a scheme to avoid PAYE and NIC. The case has now been considered by the Law Lords in…

There is a government department, the Office for Tax Simplification (OTS), that has been charged with investigating ways that the UK’s tax rules can be changed to make them easier to understand and easier to use. The OTS has recently issued a new report on the proposal to simplify the Corporation Tax assessment process for…

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). If you need to buy other equipment to use in your…

The deadline to renew a claim for tax credits is 31 July 2017. This time last year, HMRC announced that over 400,000 claimants had still not filed their renewals, and as a direct result, had their payments stopped or amended. One week before this year’s deadline, HMRC says that over 900,000 claimants have failed to…