Starting in April 2017, you may notice your clients’ PAYE codes being amended for a 2016/17 tax underpayment. This is earlier than you might expect, so what is going on and what can you advise your
clients?
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Advisory fuel rates from June.. Revised rates. HMRC has updated its advisory fuel rates (AFRs) for company cars. These have applied since 1 June 2014, but you can continue to use the previous rates
until 30 June 2014. Private journeys. AFRs can be used to avoid potential tax charges that can arise where: your business pays for fuel put into a company...
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Entrepreneurs’ relief can lower the tax rate on gains made from selling your company to just 10%. But if your company has significant cash investments this generous tax break can be jeopardised. What
steps can you take to prevent this?
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Naturally, when you draw up your will you’ll want to do it in the most inheritance tax-efficient way, and allocating your assets to the right person is vital. With this in mind what’s the best
strategy for passing on the family business?
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Late filing penalty notices on the way.. Smooth transition. HMRC issued a statement at the end of May 2014 explaining its new approach to notifying penalties for late PAYE returns. This includes not
sending out penalty notices until September 2014 for employers who haven’t submitted their final RTI submission for 2013/14. It says this lack of communication...
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As the sole owner and director, the decisions you make about your company only affect you. So do you really need to worry about nit-picking procedures? What are the consequences if you don’t?
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The government operates a number of well publicised schemes to encourage companies to employ apprentices. Less well advertised is a tax and NI incentive that companies can claim for trainees. When
can you claim it?
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During a visit from HMRC you were told that your VAT records weren’t up to scratch and that unless you improve them you could be fined. Is this correct and what exactly do the rules require?
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A report by the Pensions Regulator highlights the steps it will take where directors and companies don’t comply with auto-enrolment. What’s the full story?
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From 30 June 2014 any employee who has at least 26 weeks’ continuous service will have the statutory right to make a flexible working request. Are you obliged to bring this major change to your
workforce’s attention?
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