Monthly Archives: December 2018

Time to let your hair down? Enjoy a festive moment or two with your business colleagues and staff? If you are careful with your budgeting, you can enjoy the event without increasing your tax or National Insurance payments. Here’s what you need to consider: What's exempt? You might not have to report anything to HMRC…

From a business perspective there is not much to be merry about this year especially if you need some clarity regarding our impending exit from the EU. Never-the-less, business owners would be wise to consider the tax-free gifts that can be made to ease the financial needs for extra funds over the festive season. In…

As we have highlighted in many posts to this blog, from 1 April 2019, ALL VAT registered businesses with turnover above the £85,000 VAT registration threshold will have to submit their VAT returns from within software that can link with HMRC’s networks. In techno- speak, your data will need to be transferred using a designated…

From 1 November 2018, owners of properties on estates or sites that are obliged to pay service charges to a management company - for example, for the maintenance of common areas, gardens, or the employment of a site warden or caretaker - may be in for an unwelcome surprise. It would seem that HMRC have…

OpRA is the acronym for an optional remuneration arrangement. Before April 2018, these were termed “salary sacrifice” arrangements. Essentially, both are benefits in kind (BiK) offered to employees in place of salary increases. Recent changes ensure that that where such benefits are offered recipients many are taxed as if the cash value of the benefits…

Truthfully, no one knows what trading conditions will be like once we exit the EU. Will supply chains seize up or will it be business as usual? If there is a possibility, however remote, that the commercial landscape will change, doesn’t it make sense to undertake an assessment of any downside risks and plan accordingly?…

1 December 2018 - Due date for Corporation Tax due for the year ended 29 February 2018. 19 December 2018 - PAYE and NIC deductions due for month ended 5 December 2018. (If you pay your tax electronically the due date is 22 December 2018) 19 December 2018 - Filing deadline for the CIS300 monthly…

Marriage Allowance lets you transfer £1,190 of your Personal Allowance to your husband, wife or civil partner - if they earn more than you. This reduces their tax by up to £238 in the tax year. To benefit from this arrangement, you (as the lower earner) must have an income below your Personal Allowance -…

Businesses that presently trade with the EU block may like to consider applying for Authorised Economic Operator (AEO) status. The following notes explain why this may be helpful. AEO status is an internationally recognised quality mark that shows: your role in the international supply chain is secure your customs controls and procedures are efficient and…

This article is our usual reminder of the tax breaks available if you are organising a Christmas party for your staff. Many businesses take time out to provide their employees with a work based party or similar event. If you are concerned about the tax consequences of Christmas celebrations, read on. We have included in…