If you need evidence of employment for a claim, the following notes published by HMRC may help. You can ask HMRC for a record of your employment history, for example if you are making a compensation claim for: an industrial injury (for example asbestosis or industrial deafness) a road traffic accident medical negligence hardship (for example you’re claiming through a benevolent fund or charity) How to...
Tax Diary December 2019/January 2020
1 December 2019 - Due date for Corporation Tax payable for the year ended 28 February 2019. 19 December 2019 - PAYE and NIC deductions due for month ended 5 December 2019. (If you pay your tax electronically the due date is 22 December 2019) 19 December 2019 - Filing deadline for the CIS300 monthly return for the month ended 5 December...
Muras Matters: Company Cars Changes to Advisory Fuel Rates
This Bulletin is aimed at company car drivers (and their employers) who are not provided with fuel for private mileage HM Revenue and Customs (HMRC) have changed their advisory fuel rates for company cars with effect from 1 December 2019. The rates are intended to give guidance to employers about what is an acceptable fuel allowance to reimburse employees for use of fuel, without creating a tax or...
Using your vehicle for business purposes
As a general rule, if you use your private transport for trips related to your employment, you may be able to claim tax relief if you are not reimbursed for this business use by your employers. Exceptionally, any normal travel between your home and your place of work will always be excluded from this calculation unless you are required to travel...
Do not fall for the fraudsters
We are fast approaching the deadline for filing self-assessment tax returns in the UK for 2018-19. As readers will be aware, this deadline is 31 January 2020. Unfortunately, this coincides with a pick-up in scamming activity by fraudsters pretending to be the tax office. HMRC have recently posted an alert for taxpayers and this is reproduced below. Over the last year, HMRC...
Muras Matters: General Election Tax Policies
With the 2019 General Election in just over two weeks and campaigning now in full swing we have summarised some of the tax policies which have been announced by the three main parties. Conservatives Business Taxes Corporation tax – the previously proposed target rate of 17% in 2020 has been dropped and therefore rates will remain at...
When trivial can be significant
The following extracts from HMRC’s website explain how certain benefits to employees can be tax-free. Surprisingly, HMRC describe these as “trivial” benefits. You don’t have to pay tax on a benefit for your employee if all of the following apply: it cost you £50 or less to provide it isn’t cash or a cash voucher it isn’t a reward for their work or performance it...
Do you know?
We are approaching the end of the calendar year, goodbye 2019, and the end of the of the current tax year, 2019-20, will draw to a close 5 April 2020. Add to this self-assessment deadlines, Brexit changes, election results and will we – won’t we – have a budget speech any time soon, and it’s clear that the outlook for businesses,...
Muras Matters: Christmas Seasonal Workers and Auto Enrolment
Background During the traditional run up to Christmas, many employers will take on seasonal workers, and as with other staff, these temporary workers must be assessed to determine if they qualify for automatic enrolment into a workplace pension. Detail When employing seasonal or temporary staff it is necessary for an employer to assess each employee individually every time they are paid to determine whether they need to...
The benefits of Furnished Holiday Lets
Most buy-to-let property is let on short leases to a single tenant. The income from rents is treated as a property business, but a number of reliefs available to other trading businesses are not available to buy-to-let landlords. However, if these same properties were let as Furnished Holiday Let (FHLs) property, more advantageous tax benefits may apply. If you let properties that...