Payroll update: March 2019

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18th March 2019

The team at Whiting’s payroll bureau have produced their latest newsletter, to keep clients updated on relevant recent changes to payroll and related legislation.

Edition 10 – March 2019

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Lucy Bayliss

11th April 2019 £10 a day from the 1st May!

If you submitted your tax return after the filing deadline of 31 January, or you still have not submitted your tax return, then you will automatically be fined £100 for missing the deadline. In February, HMRC announced that they would be delaying issuing the late filing penalty notices due to Brexit. They have now…

Matilda Mawson

10th April 2019 Has your claim for marriage allowance transfer been refused?

HMRC have recently attempted to remove a marriage allowance transfer for a couple, where the transferor had less than the 10% personal allowance unused. This treatment is incorrect as outlined below: Background to the transfer The marriage allowance transfer was introduced from 5 April 2015 onwards and allows a person to transfer 10%…

Lisa Smith

9th April 2019 Digital Records for VAT – HMRC Guidance published

From 1 April 2019, most businesses with a taxable turnover above £85,000 are required to follow the rules for Making Tax Digital for VAT. As a result, HMRC has published new guidance on record keeping, which explains what records a business needs to keep digitally if it has signed up for Making Tax Digital…

Ian Piper

9th April 2019 R&D Tax Relief: HMRC Try to Tackle Abuse

Many companies, not just those in the tech industry, will have benefitted from the generosity of R&D tax relief. Eligible R&D expenditure can be inflated by a notional 230% uplift, and a refund of tax claimed on tax that was never paid in the first place. Perhaps not unsurprisingly, HMRC have identified abuses of…

Adrian Mackenzie

25th March 2019 When doing nothing is best

From time to time, stock markets go through periods of uncertainty. This could be down to some poor economic news or perhaps due to a political crisis. The sharp falls that can be experienced at such times are understandably unsettling for investors. They can even tempt some to change their long-term plan by selling their…

Thomas Carter

21st March 2019 Preparing for Brexit – Do you trade within the EU?

Your UK business may need an Economic Operator Registration and Identification (EORI) number if we leave the EU with no deal. What is an EORI number? An EORI number is a unique identifying number assigned to individual importers and exporters to track trade between the EU and non-EU countries. It’s used during Customs…

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Payroll update: March 2019