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First phase of employment tribunal fees refund scheme launched

24 Oct, 2017

The government has launched the first phase of its refund scheme for employment tribunal fees, following the Supreme Court's judgment in July 2017 in R (on the application of Unison) v Lord Chancellor 2017 that the fees regime was unlawful. The first phase will last for about four weeks, thereafter full details of the scheme, including details of how it can be accessed, will be made available once it is fully rolled out.

Tax Diary November/December 2017

23 Oct, 2017

1 November 2017 - Due date for corporation tax due for the year ended 31 January 2017.

19 November 2017 - PAYE and NIC deductions due for month ended 5 November 2017. (If you pay your tax electronically the due date is 22 November 2017.)

19 November 2017 - Filing deadline for the CIS300 monthly return for the month ended 5 November 2017.

19 November 2017 - CIS tax deducted for the month ended 5 November 2017 is payable by today.

Bereavement leave for parents who lose a child

19 Oct, 2017

The Parental Bereavement (Leave and Pay) Bill has been published by the government. Although the Bill is a Private Members’ Bill, it has the full support of the government and therefore the Bill and its explanatory notes have been prepared by the government with the consent of the relevant MP. It is due to have its second reading in the House of Commons on 20 October 2017.

Overdrawn director’s loan account

18 Oct, 2017

An overdrawn director's loan account is created when a director (or other close family members) ‘borrows’ money from their company. Many companies, particularly 'close' private companies, pay for personal expenses of directors using company funds. Where these payments do not form part of a director’s remuneration they are usually posted to the director’s loan account (DLA).

The DLA can represent cash drawn by a director and payment of other personal bills and expenses. 

Inactive companies and Corporation Tax

18 Oct, 2017

There are a number of scenarios where HMRC would consider a company or organisation to be inactive for Corporation Tax (CT) purposes. This is a different categorisation to a 'dormant' company and usually happens when a company has not commenced trading.

A company, whilst not yet active for CT purposes, can still carry out activities (known as ‘pre-trading activities’) or incur costs (known as ‘pre-trading expenditure’).

HMRC’s guidance states that activities or expenditure that are not considered trading by HMRC for CT purposes include:

HMRC to stop accepting personal credit cards

18 Oct, 2017

HMRC has confirmed that they will no longer accept payments with a personal credit card from 13 January 2018. This includes payments for income tax, PAYE, VAT and many other taxes. This is due to the implementation of the EU second Payment Services Directive (PSDII). This legislation makes a number of reforms to the way payments by, debit and credit cards, direct debit, credit transfers, standing orders and other digital payments are made.

What is a 'K' tax code?

18 Oct, 2017

The letters in an employee’s tax code signify their entitlement (or not) to the annual tax free personal allowance. The tax codes are updated annually, or when an employees circumstances change, and help employer’s work out how much tax to deduct from an employee’s pay packet. 

Managing staff experiencing mental ill health

18 Oct, 2017

Acas has launched new guidance to help employers manage staff who are experiencing mental health issues. The new guidance aims to help managers develop the right skills to support employees as well as to create a culture of well-being in the workplace. It includes advice on:

Non-residents selling UK home

18 Oct, 2017

A capital gains tax (CGT) charge on the sale of UK residential property by non-UK residents was introduced in April 2015.

Is it a car or a van?

18 Oct, 2017

The First-Tier Tribunal recently heard three appeals that examined whether vehicles supplied to employees were vans or cars. The main appellant in this case was Coca-Cola European Partners GB Ltd (Coca-Cola) who supplied vehicles to a number of their employees.

Until 1997, Coca-Cola’s technicians had used estate cars but the amount of equipment that the employees needed would no longer fit in an estate car and Coca-Cola moved to supplying a choice of three different types of vans to its employees.

Do you pay tax on assets or cash you inherit?

11 Oct, 2017

As a general rule, inheritance tax (IHT) is collected from a person’s estate when they die and can also be payable during a person’s lifetime on certain trusts and gifts. There is normally no tax to be paid if the value of the estate is below the IHT nil rate threshold of £325,000. There is also a new IHT main residence nil-rate band (RNRB) that was introduced in April 2017. The RNRB will ultimately allow for a £175,000 per person transferable allowance for married couples and civil partners when their qualifying main residence is passed down to children after their death.

Employing someone to work in your home

11 Oct, 2017

When you employ someone to work in your home, it is your responsibility to meet their employee's rights and deduct the correct amount of tax from their salary. This can include domestic staff such as a nanny, housekeeper, gardener or carer. The rules are different if the person is self-employed or paid through an agency.

If you employ anyone they must:

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