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PSC register and confirmation statements

  • Posted On: 26 May 2016
PSC register and confirmation statements The register of People with Significant Control (PSC register) brings about a new requirement for almost all UK companies (including dormant companies), Societates Europaeae (SEs) and Limited Liability Partnerships (LLPs) to keep a register of

New SME report published

  • Posted On: 26 May 2016
New SME report published New research commissioned by the Department for Business, Innovation and Skills (BIS) and carried out by the Longitudinal Small Business Survey has found that smaller businesses are taking on more staff. In a report published earlier this month, the

Employer P11D, P11D(b) and P9D deadline

  • Posted On: 26 May 2016
Employer P11D, P11D(b) and P9D deadline Employers are reminded that the deadline for submitting the 2015-16 forms P11D, P11D(b) and P9D is fast approaching. The filing date for all the forms is 6 July 2016. Late submissions can result in penalties being issued by HMRC. Employers making

Alcohol Wholesaler Registration Scheme

  • Posted On: 26 May 2016
Alcohol Wholesaler Registration Scheme The Alcohol Wholesaler Registration Scheme (AWRS) requires alcohol wholesalers to demonstrate they are 'fit and proper' and have their supply chains tested to make sure they are legitimate before being approved to operate in the sector, and entered

Van benefits for zero emission vans

  • Posted On: 26 May 2016
Van benefits for zero emission vans A van benefit charge applies for zero emission vans. This rate is tapered and will increase each year until the tax year starting 6 April 2022. The transitional steps are as follows: 2016-17 – 20% of the full rate 2017-18 – 20% of the full rate

Lloyds share sales

  • Posted On: 19 May 2016
Lloyds share sales In May, the government received a £130m dividend payment from Lloyds, this brings the amount the government has received in dividends from the bank to £318m and takes the total the government has recovered from Lloyds for taxpayers to over

Enterprise Bill receives Royal Assent

  • Posted On: 19 May 2016
Enterprise Bill receives Royal Assent The Enterprise Bill received Royal Assent in May and has become the Enterprise Act. The new Act is expected to drive economic growth, create jobs and improve the business landscape especially for small businesses. The Enterprise Act focuses on a

Tribunal examines default surcharge appeal

  • Posted On: 19 May 2016
Tribunal examines default surcharge appeal A recent First-Tier Tribunal case examined an appeal by a taxpayer against a penalty for late submission of a VAT return for the quarter ending 31 October 2014. The penalty was a VAT default surcharge that is levied on businesses that submit late VAT

Tax credits online renewals

  • Posted On: 19 May 2016
Tax credits online renewals Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2016. Claimants who do not renew on-time may have their payments stopped. HMRC has begun sending tax credits renewal packs to

Bank Corporation Tax surcharge

  • Posted On: 19 May 2016
Bank Corporation Tax surcharge In the summer 2015 Budget, the Chancellor announced a new 8% Corporation Tax surcharge on bank profits from the 1 January 2016 in order to maintain a fair contribution from the banks. The profits will be calculated on the same basis as for