Tax credits Archives - WRLO Accountants

December 2019 news

WRLO Accountants — Wed, 04 Dec 2019 21:17:44 +0000

In this month’s Enews we consider tax free gifts for employees, updated advisory fuel rates for company cars and tips on avoiding Self Assessment scams. We also report on the updated Check Employment Status for Tax tool and temporary pensions arrangements for some NHS staff. With guidance on cryptoassets, the latest HMRC Employer Bulletin and R&D statistics there is lots to update you on. Making sure gifts to employees are tax-free Advisory fuel rates for company cars HMRC offers tips on avoiding Self Assessment tax scams Check employment status for tax tool update Temporary pensions tax arrangement for NHS staff HMRC issues guidance on cryptoassets Latest guidance for employers Research and Development spend Making sure gifts to employees are tax-free Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A tax exemption is available which should help employers ensure that the benefits provided are exempt and do not result in a reportable employee benefit in kind. In order for the benefit to be exempt it must satisfy the following conditions: the cost of providing the benefit does not exceed £50 per employee […]

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February 2018 news

WRLO Accountants — Tue, 06 Feb 2018 21:36:39 +0000

In this month’s Enews we report on the roll out of Tax-free Childcare and the reduction in HMRC scam texts. We also consider the latest list of deductible subscriptions and rejected Self assessment expenses claims and excuses. With revised income tax bands for Scottish taxpayers there is lots to update you on. HMRC rejected Self Assessment expenses and excuses Tax-free childcare roll out HMRC halts thousands of scam text messages Updated list of professional subscriptions What will the Spring Statement bring? Scotland revise income tax bands HMRC rejected Self Assessment expenses and excuses HMRC have released the latest list of imaginative excuses made by individuals who failed to submit their self assessment return by 31 January deadline in 2017. Excuses include alien sightings and being too busy touring with a one-man play. HMRC’s annual list of outlandish excuses is used to publicise the self assessment deadline of 31 January following the end of the tax year. An automatic £100 penalty applies to those who have the obligation to complete a return and miss the filing deadline, regardless of whether the individual has a tax liability to pay or not. Angela MacDonald, HMRC’s director general of customer services, said: ‘Each year […]

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