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19 Mar

Full EU Settlement Scheme roll-out

  • European Union

The government has laid a Statement of Changes to the Immigration Rules implementing the full opening of the EU Settlement Scheme from 30 March 2019. The scheme will apply regardless of whether there is a Brexit deal or not. The scheme will allow…

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19 Mar

2019 Spring Statement: employment implications

  • General

In the Spring Statement 2019, the Chancellor of the Exchequer has announced that the apprenticeship reforms set out in the Autumn Budget 2018 will now be introduced a year early. From 1 April 2019, the co-investment rate for non-levy employers will…

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14 Mar

Topping up your self-employed NIC contributions

  • National Insurance

In many circumstances it can be beneficial to make voluntary Class 2 National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension if you are self-employed. You might want to consider…

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14 Mar

Lost your Unique Tax Reference number?

  • General

Your Unique Taxpayer Reference (UTR) identifies your tax records at HMRC. The number is also known as your taxpayer number or tax reference number and should be used whenever you contact HMRC, or when you file your tax returns. The UTR is a unique 10…

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14 Mar

Treatment of deposits for VAT purposes

  • Value Added Tax

As a general rule, most deposits made by customers serve as advance payments and create a VAT tax point when the deposit is received. It is important that businesses ensure that the VAT element of any deposits received is accounted for correctly.…

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14 Mar

What are the badges of trade?

  • HMRC notices

The 'badges of trade' tests, whilst not conclusive, are used by HMRC to help determine whether an activity is a proper economic / business activity or merely a money-making side line to a hobby. Careful consideration needs to be given when deciding…

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14 Mar

Sale of income by an individual

  • HMRC notices

A capital sum received by an individual in respect of the sale or relinquishment of income to be derived from his or her personal activities, can sometimes be treated as earned income and chargeable to Income Tax. If this is the case, the amount…

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13 Mar

Employee tax codes 2019-20

  • Payroll

The P9X form is used to notify employers of the tax codes to use for employees. The basic Personal Allowance for the tax year starting 6 April 2019 will be £12,500 and the tax code for emergency will be 1250L. The basic rate band is between…

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13 Mar

Spring Statement - 13 March 2019

  • Spring Statement

The following comments were written on the 13th March 2019 immediately following Philip Hammond’s presentation of the 2019 Spring Statement to Parliament. In theory, the government uses the Spring Statement to respond to the most recent forecasts…

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12 Mar

Expenditure on building that qualifies as plant

  • Capital allowances

Capital Allowances are the deductions which allow businesses to secure tax relief for certain capital expenditure. Capital Allowances are available to sole traders, self-employed persons or partnerships, as well as companies and organisations liable…

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6 Mar

Are you claiming the Marriage Allowance?

  • Income Tax

HMRC has published a press release to remind qualifying couples to claim the Marriage Allowance. The Marriage Allowance allows lower earning couples to share part of their personal tax-free allowance. The Marriage Allowance is available to married…

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6 Mar

Last chance to get ready for VAT filing changes 1 April 2019

  • Value Added Tax

The deadline for the introduction of VAT filing changes is now just weeks away. For VAT returns periods starting on or after 1 April 2019, some 1 million businesses with a turnover above the VAT threshold (currently £85,000) will be required to start…

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