Recently added Tips & Advice

COMPLIANCE - 07.07.2020

What is a reasonable excuse?

HMRC has updated its guidance on what it will accept as a reasonable excuse for late filing or payment resulting from the coronavirus pandemic. What does the guidance say and how much latitude does it give you?
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PENSIONS - 07.07.2020

Pensions auto re-enrolment duties

Many small employers who auto-enrolled staff into a workplace pension for the first time in 2017 are now facing auto re-enrolment. What do you need to know to ensure a pain-free process?
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VAT - 07.07.2020

VAT payment holiday is over

Normal service resumed. The VAT payment deferral period ended on 30 June 2020. This means you must pay any VAT due after that date on time or HMRC may apply surcharges. For example, if your VAT quarter ended on 31 May, and you pay your VAT by direct debit, you should have paid HMRC by 7 July. Remember that any VAT payments that have been deferred between 20 March and 30 June should be paid in full by 31 March 2021. If you are unable to pay your VAT on time, contact HMRC and ask for a time to pay arrangement. ...
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Tax return following a delayed start to business

You formed a company in March with the intention of beginning trade immediately. However, this was delayed because of coronavirus. Do you need to notify HMRC and what effect will the delay have on the company’s tax returns?
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CORONAVIRUS - VAT - 07.07.2020

VAT trap for private use of company vehicles

In the last few months there’s been little work for two of your employees but they’ve continued to have use of their company vans, including for personal journeys. Does this affect what you need to report on your next VAT return?
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EXPENSES - 07.07.2020

More news on homeworking expenses

Home equipment. We recently told you about a new tax and NI exemption which applies where employers reimburse an employee the cost of equipment, e.g. a computer, so that they can work at home if they need to because of coronavirus ( yr.20, iss.17, pg.1 , see The next step ). HMRC has now published further guidance which adds an interesting spin to the exemption. ...
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CARS - 08.06.2020

Advisory fuel rates fall significantly

New rates. HMRC has updated its advisory fuel rates (AFRs) for company cars from 1 June 2020. The old rates (shown in brackets in the table below) can be used until 30 June 2020. To avoid a car fuel benefit charge, employers and employees can compensate each other at the appropriate AFR for the cost of fuel paid for by the other. Because there’s wide variation in fuel prices across the UK you may prefer to work out your own fuel rates. HMRC will accept these as long as they are reasonable ...
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New guidance on salary deductions

There’s new guidance about deductions from pay for employees furloughed under the Coronavirus Job Retention Scheme (CJRS). What’s the full story?
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Exemption for homeworking expenses

The government has announced a new tax exemption for employees who work from home and need to buy equipment to do their job. What’s the full story?
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