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Could you qualify for NIC Carer’s credits?

27 Jun, 2018

Carer’s credit is a national insurance credit that can help carers to fill gaps in their national insurance record. Carers who don’t qualify for Carer’s allowance, may qualify for Carer’s credit. This can help increase the amount of state pension a carer receives when they reach the state retirement age. The Carer’s credit is available to qualifying applicants caring for one or more people for at least 20 hours per week. A carer’s income, savings or investments does not affect their eligibility for Carer’s credit.

Final reminder to submit P11D forms

27 Jun, 2018

Employers are reminded that the deadline for submitting the 2017-18 forms P11D, P11D(b) and P9D, is 6 July 2018. P11D forms are used to provide information to HMRC on all Benefits in Kind (BiKs), including those under the Optional Remuneration Arrangements (OpRAs) unless the employer has registered to payroll benefits. This is known as payrolling and removes the requirement to complete a P11D for the selected benefits. However, a P11D(b) is still required for Class 1A national insurance payments regardless of whether the benefits are being reported via P11D or payrolled.

Tax-Free childcare in the school holidays

27 Jun, 2018

The results of a new YouGov poll published by HMRC has revealed that some 30% of parents polled are worried about balancing their job and school holiday childcare, and 54% of parents admitted they look forward to their children returning to school in September

Check if company is in liquidation

27 Jun, 2018

There are a number of way you can check if a company is in liquidation. This can include looking on the Companies House register. Companies House is responsible for maintaining a register of company information such as annual returns and annual accounts. This information also includes insolvency details, although this can take some time to be updated and made available to the public.

Employee expenses covered by exemption

27 Jun, 2018

There is no longer a requirement to report certain routine expenses to HMRC. The types of expenses and benefits covered are referred to as exemptions and have replaced dispensations which can no longer be applied for.

Equipment you buy for your job

27 Jun, 2018

Employees who use their own money to buy things they need for their job can sometimes claim tax relief for the associated costs. It is usually only possible to claim tax relief for the cost of items used solely for your work.

Self-assessment second instalment due end of July

21 Jun, 2018

Taxpayers that make payments on account should be aware that the second payment on account for 2017-18 is due on or before 31 July 2018. The amount due for payment is usually the same as the first payment on account made on 31 January 2018 in relation to the 2017-18 tax year.

M&S lose expensive VAT case

21 Jun, 2018

The First-Tier Tribunal recently heard an appeal that considered the correct VAT treatment of a promotional offer by the retailer, Marks and Spencer (M&S). The issue concerned a frequently run promotion referred to as 'Dine In for £10 with Free Wine'. Using this offer, customers could buy 3 items of food (comprising a main course, side dish and dessert) from a specific selection for £10 and receive a 'free' bottle of wine.

Plumber wins landmark gig economy case

21 Jun, 2018

The Supreme Court has upheld the Court of Appeal's decision and confirmed that a plumber who was classed as self-employed was actually a 'worker'. The Supreme Court dismissed the appeal by Pimlico Plumbers and agreed that the employment status of the person in question was that of a worker which conferred basic employment rights including entitlement to the minimum wage, holiday pay and protection from discrimination.

Tax gap lowered according to HMRC

21 Jun, 2018

HMRC has published figures that show the tax gap for the 2016-17 tax year was 5.7%. The tax gap is basically the difference between the amount of tax due and the amount of tax collected by the Exchequer. The gap includes tax that has been avoided in the UK’s black economy, criminal activities and by the use of tax avoidance and evasion schemes.

Are you on track to qualify for a full State Pension?

21 Jun, 2018

Anyone aged 16 or over and at least 30 days from their State Pension age can request a State Pension statement from the Department for Work & Pensions (DWP). The statement provides an estimate of how much State Pension they can expect to receive when they reach State Pension age. The estimate is based on the applicant's National Insurance Contribution record as it stands on the date the statement is produced.

Is the email really from HMRC?

21 Jun, 2018

HMRC continues to warn taxpayers to be aware of email phishing scams. Phishing emails are used by fraudsters to access recipients’ valuable personal details, such as usernames and passwords. Whilst these messages may appear to be genuine they are very dangerous and clicking on a link within the email can result in personal information being compromised and the possibility of computer viruses being downloaded to your computer or smartphone.

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