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Paying NIC if you go abroad

07 Feb, 2018

If you move abroad it can be advantageous to continue paying UK National Insurance Contributions (NICs) in order to preserve your entitlement to the State Pension and other benefits. If you are working in the European Economic Area the rules depend on your situation. The EEA includes all EU countries as well as Iceland, Liechtenstein and Norway. The same rules apply in Switzerland.

The rules are as follows:

Retailers encouraged to employ more disabled workers

05 Feb, 2018

The Minister for Disabled People, Health and Work has launched a new campaign to encourage more retail employers to sign up to its trailblazing “Disability Confident” employer scheme, to increase the number of disabled people in the workforce. The government aims to see one million more disabled people in work by 2027.

Around 123,000 vacancies currently exist in the retail and wholesale sector, and the government believes retailers should “realise the benefits of employing disabled people”.

DBS updates identity checking guidelines

05 Feb, 2018

The Disclosure and Barring Service (DBS) has introduced new identity checking guidelines for standard and enhanced disclosure checks. The new guidelines have been running in parallel with the previous guidelines since October 2017. However, the previous guidelines have now ceased to apply, and employers must use the new version.

Nominating a home for tax purposes

31 Jan, 2018

As a general rule there is no CGT payable on the disposal of a property which has been used as the main family residence. Conversely, an investment property which has never been used will not qualify for relief. This relief from CGT is commonly known as private residence relief (PRR).

A reminder to consider a carry back of charitable contributions

31 Jan, 2018

Donations to charity over the course of a tax year can add up and taxpayers must ensure they keep a proper record of all donations to record them on their tax return. Donations that are made through the Gift Aid scheme allow for the recipient charity to claim 25p worth of tax relief on every pound donated. Higher rate and additional rate taxpayers are eligible to claim relief on the difference between the basic rate and their highest rate of tax.

For example:

Claiming tax relief for uniforms, work clothing and tools

31 Jan, 2018

Employees who use their own uniforms, work clothing and tools for work can sometimes claim tax relief for the associated costs. It is possible to claim for the cost of repairing or replacing small tools you need to do your job as an employee (for example, scissors or an electric drill), or cleaning, repairing or replacing specialist clothing (for example, a uniform or safety boots). However, an employee cannot claim relief on the initial cost of buying small tools or clothing for work.

Reasonable excuse for late filing of your tax return

31 Jan, 2018

Taxpayers that have not yet filed their 2016-17 self-assessment returns will have been charged an automatic £100 penalty for late submission. The penalty applies from 1 February 2018 even if no tax was due or the tax due was paid on time.

In some cases, it can be possible to appeal against any penalty on the grounds of having a good reason for sending in a late return. However, taxpayers must have what is known as a 'reasonable excuse' for filing a self-assessment return late had and ensured that the return was sent in as soon as possible following the deadline.

Seconding employees to a charity

31 Jan, 2018

There are special rules in place when a limited company gives to a charity. This can include Corporation Tax relief for certain donations made to registered charities or community amateur sports club (CASC) as well as capital allowances for giving away equipment that has been used by your company.

There are also special rules if your company temporarily transfers an employee to work for a charity. This is known as a ‘secondment’. If this happens, the company can deduct any costs as normal business expenses.

Did you file before the deadline?

31 Jan, 2018

HMRC revealed that, as of 24 January 2018, there remained over 3 million taxpayers who had not yet submitted their 2016-17 self-assessment returns. This left a lot of people with a lot of work to do in the final week before the submission deadline.

Businesses urged to prepare for stronger data protection laws

29 Jan, 2018

Following the publication of new government research which shows that fewer than half of businesses are aware of forthcoming new data protection laws, the government has urged businesses to act to make sure the personal data they hold is secure and that they are fully prepared for the EU General Data Protection Regulation (GDPR) and the new Data Protection Act 2018.

 

Support for Carillion subcontractors

24 Jan, 2018

HMRC has published a press release following the financial collapse of Carillion. Given the current uncertainty for subcontractors, HMRC understands that some businesses will be experiencing problems paying their tax bill.

HMRC is reminding affected taxpayers that the Business Payment Support Service (BPSS), is available to help provide practical advice and guidance. The BPSS was first launched back in 2008 and is still available to taxpayers. The purpose of the service is to provide support for viable businesses experiencing a wide range of tax problems.

Sign up for email alerts from Companies House

24 Jan, 2018

A new email alerts service has been launched by Companies House. The new alert service covers a range of subscription topics and should not be confused with the email reminder service, which advises when accounts and confirmation statement are due for filing.

If you are interested in receiving email reminders about your accounts and confirmation statement, you need to sign up using the Companies House online filing service.

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