Paying limited company contractors through payroll

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Historically when paying a limited company contractor (an individual working for you but invoicing you through their own limited company, aka a “personal service company”) the payer does not have to consider whether there is an employment relationship. Since 2017 public sector bodies have had to make such payments through payroll if the relationship would […]

No penalties for late filing of first MTD VAT return

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HMRC have said that businesses will not be penalised for late submission of their first MTD VAT return. They added: ‘Although we will not penalise them, they will receive a letter from us telling them that they missed the deadline and asking them to take action.’ An HMRC press spokesperson confirmed this was because of […]

Penalties for late submission of PAYE filing

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In an article in the latest Employer Bulletin, HMRC confirms that late filing and late payment penalties will be considered on a risk-assessed basis rather than issued automatically. In practice it seems that these penalties are only issued for significantly late returns or persistently late filers.

Employment allowance

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From 6 April 2020 the £3,000 annual employment allowance (reduction of employers national insurance) will count as state aid. It may be necessary to keep an eye on state aid de-minimis limits if you are also claiming any grants or tax credits. Note that UK government intends to keep the current EU rules regarding state […]

57 Ways to Grow Your Business: 14 – Build a Contact Management System

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In this business environment, you need to collect and manage a lot of information about your customers, prospects and referral sources. To do this, you need a robust contact management system, which will incorporate customer relationship management (CRM). The system allows you to keep regular contact with selected customers, prospects and referral sources with a […]

Tax free company car?

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If your company provides you with a company car there is usually a VAT loss and a hefty personal tax bill. This is regardless of whether the car is bought or leased by the company. An exception is electric cars after 6 April 2020. There have been many attempts (published and witnessed by us) to […]

Company Officers jointly and severally liable for VAT penalty

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The decision in a recent tax tribunal case reminds us that directors and other company officers may be personally liable for VAT penalties of their company. The recent case involved a penalty for late registration for VAT where the threshold had been exceeded. Three conditions must be satisfied before the liability for a penalty payable […]

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