As we enter the final month of yet another tax year we have created one of our special Employers’ What’s On? We report on HMRC latest Agent Update and we look at some practical taxing issues.
First off, Making VAT Digital. If you are worried, then you might be slightly cheered to hear that there is a wide different range of understandings and expectations from different tax professionals as to whether the software does it all or whether human intervention is required. Our advice for all is to 'keep calm and carry on'.
The Office of Tax Simplification held its first tax conference yesterday. Speakers considered what simplification really means. It clearly spans a canyon that perhaps starts with easy to apply rules and clear guidance, weaves around economic aims and political aspirations and then perhaps ends in the full application of technology. We are often worried about technology and this brought me into a conversation about autonomous vehicles. Who or what would you rather meet as you drive up a hill in bright sunlight? Prince Phillip (or any other elderly driver) at the wheel of his Range Rover or a self-driving Tesla? Of course, we know that neither have unblemished driving records. However, the car's driving skill matures with ‘age’ and the human’s does not. My reaction time is now slower than it was, my neighbour doesn’t drive in the dark or on the motorway. Why don’t we measure human weakness in the same acute way that we do for technology? In short, why are we so hard on machines?
If you have any tax queries please do try out our Virtual Tax Partner support portal at www.VtaxP.co.uk.
Enjoy the guides and updates and the news is below.
Nichola Ross Martin FCA CTA (Fellow) Tax Director
Your Virtual Tax Partner®: online PRACTICAL support for accountants, tax advisers BY accountants and tax advisers
Quick news (freeview)
The Loan Charge: payment and reporting requirements
HMRC have issued further guidance about how to report and pay the disguised remuneration loan charge which takes effect on 5 April 2019.
Agent Update February/March 2019
HMRC have issued the Agent Update for February/March 2019. We have summarised the key content for you with links to our detailed guidance on the topics covered.
Advisory fuel rates from 1 March 2019
New advisory fuel rates for company car drivers which will apply from 1 March 2019.
2017/18 Self-Assessment penalty notices to be delayed
HMRC have advised that they will be late in issuing self-assessment late filing penalty notices this year due to Brexit.
Making Tax Digital (freeview)
Making VAT Digital: New timetable
A useful timetable for Making Tax Digital for VAT - Making VAT Digital 'MVD'.
Making VAT Digital: who has to join?
If you are still unsure whether MVD applies to you our tool should help you decide. We are constantly updating this as HMRC release more guidance.
Editor's Choice (subscribers)
Employers: What's On? Feb/March 2019
ESSENTIAL CPD & client briefing. This time we have top tips on end of year reporting, what's new for employers in 2019/20, reporting deadlines and penalties.
Tax Guides and Updates (subscribers)
PAYE starter checklist for 2019/20
NEW: Taking on an new employee? What PAYE code to use? This is our (improved) version of HMRC's New Employee Starter checklist.
Partnerships: what's new?
UPDATE: HMRC changes guidance on partners expenses paid outside the accounts.
Entrepreneurs' Relief: disposal of trust assets
NEW: This new guide sets out the rules for trustees to claim ER on the disposal of business assets.
Corporate Criminal Offence: failure to prevent tax evasion
UPDATE: More details added about to self-report online with links to HMRC's guidance.
Case Update (freeview)
No judicial review of APN's
In J Dickinson and others v HMRC  EWCA Civ 2798 the Court of Appeal refused to grant judicial review of APNs, despite HMRC having reneged on a promise not to enforce payment until the case had been heard by the First Tier Tribunal (FTT).
Premiums paid by company were not director's earnings
In Macleod and Mitchell Contractors Limited and William Mitchell v HMRC  UKUT46 the Upper Tribunal (UT) found that insurance premiums paid by a company where the contracts were in a director’s name were not taxable as earnings.
Mixed supplies: single or multiple?
UPDATE: Where a transaction comprises several different elements; it is important to consider whether, for VAT purposes, is a single supply or several distinct supplies bundled together. This can affect both the VAT chargeable and input tax recovery.
Errors: VAT how to correct
NEW: A new guide explaining how to correct VAT errors or mistakes.
CPD & Webinars
NEW: A webinar covering private client news, legislative changes and interesting cases from the past few months.
Budget 2018: subscriber guide & CPD
UPDATE: key announcements at a glance
See CPD for Lunch
Changes to our Terms and Conditions
Important changes to our T and Cs
UPDATED: our terms and conditions are short and we hope transparent. Please do take a minute to read through them.
Missed last time's Web-update?
- Making Tax Digital for VAT and who is digitally excluded
- The Loan charge and settlements: more info from HMRC
- The 2019/20 tax code
- and much more..
Come and join our Cloud
Subscribe (and UNLOCK the whole site) A single user annual subscription is £365 (+ VAT)
What do you get?
- We keepYOU up to date in SME tax.
- FULL access to www.rossmartin.co.uk: your firm's personal TAX CLOUD containing over 3,500 actively maintained tax guides, briefings, toolkits and checklists.
- Want to know more? Commission your own articles and checklists.
- Structured CPD:our detailed SME tax updates "for Advisers Only" provide topical summaries and planning notes & our NEW webcasts provide you with structured CPD at your desk.
- Regular client tax briefings: these cover the latest business and employment tax issues and are designed to assist you plan meetings and improve your client services.