by SP Media | Aug 21, 2019 | Business, Finance, HMRC, News, Tax
At this time of every year, HM Revenue and Customs embark on a massive computerised reconciliation process. This is to check that those with PAYE records, but not in self-assessment, have paid the right amount of tax in the preceding tax year. Where the department... 
by SP Media | Aug 7, 2019 | Business, Finance, HMRC, MTD, Tax, VAT
It’s good for businesses to know that HMRC expects them to record digitally for every individual invoice, no matter how minor and inconsequential it might be. This stands irrespective of the fact that a business’s clients might make a single monthly payment against a... 
by SP Media | Jul 18, 2019 | Business, Finance, HMRC, News, Tax
The new fuel rates take effect from 1 June 2019, although the previous rates can be used for an additional month. These rates only apply to employees who are using a company car in the following scenarios: When employees are reimbursed for business travel in their... 
by SP Media | Jul 10, 2019 | Business, Finance, HMRC, Tax
The HMRC form P11D is the form employers use to report the details of taxable expenses and benefits provided to employees and directors during the course of a tax year, after that year has ended. Employees pay tax on the benefits disclosed on the submitted P11D via a... 
by SP Media | Nov 8, 2018 | Finance, HMRC
The government has decided not to abolish Class 2 National Insurance Contributions (NICs) from April 2019. This is today paid at a rate of £2.95 per week by self-employed individuals with profits of £6,205 or more annually. Robert Jenrick, Exchequer Secretary to the...