Latest blogs for Services

Although the amount of tax ultimately paid on profits will be the same if you obtain CIS gross payment status, improvements in cashflow and reductions in the cost of credit, such as overdraft interest, should easily make the application process worthwhile. To be eligible to gain CIS gross payment status and receive payments from contractors…

Untaxed Interest Letter from HMRC: Are you one of the ‘lucky’ ones? HMRC have recently sent out 10,000 letters to individual taxpayers whose Self Assessment Tax returns indicate that they have been in receipt of untaxed interest in the 2014/15 tax year. The letter invites the taxpayer to reconsider the entries on their return, to…

EIS:  Growth Shares and Preference. Abingdon Health Ltd v HMRC TC05525 This was an interesting case, and a warning for the unwary. The issue at stake was whether HMRC’s withdrawal of EIS relief as a result of a preference created by a new class of growth share was reasonable. The taxpayer company sought EIS relief in respect…

Whitings’ Newsletter: Nov-16 The general practice team at Whitings have produced their latest newsletter, to keep clients updated on relevant recent changes to tax and related legislation: November 2016

Construction Projects: Use of cloud accounting helps with BIM. Are you part of a construction project team? There is increasing publicity being given to the integration of Building Information Modelling (BIM) into construction projects. Since 4 April 2016, any firm wanting to be considered for public sector construction work has to be BIM level 2…

Farm Accounts: Reached the Cloud? As technology has advanced in Agriculture and more bespoke equipment is being used day in day out, is it time for farmers to reach for the cloud? Can farm accounts software meet this challenge…..Yes they can! Over the past few months we have been working closely with Quickbooks Online to…

Employers with internationally mobile employees: New NIC rules. The NIC regulations have been updated to provide clarity for employers whose employees work abroad. The amendment made confirms that several categories of expenses are not liable to Class 1A NIC, specifically: travel between employments where duties performed abroad travel costs and expenses where duties performed abroad:…

The NIC regulations have been updated to provide clarity for employers whose employees work abroad. The amendment made confirms that several categories of expenses are not liable to Class 1A NIC, specifically:

1. travel between employments where duties performed abroad
2. travel costs and expenses where duties performed abroad: earner’s travel
3. travel costs and expenses where duties performed abroad: visiting spouse’s/civil partner’s or child’s travel
4. foreign accommodation and subsistence costs and expenses for overseas employments

The Government today announced plans to review SSP, to encourage supportive discussions and phased returns to work. The proposed plans included in this green paper include:

• Encouraging employers to work with their employees with long-term health conditions, to stop them from falling out of work,
• A review of Statutory Sick Pay and doctors fit notes, to support workers getting back to work faster, and for longer,
• Work Capability Assessment reform, via the launch of a consultation,
• A debate about recognising the value of work as a health outcome.

Statutory Sick Pay (SSP): Under review, to encourage returns to work. The Government today announced plans to review SSP, to encourage supportive discussions and phased returns to work. The proposed plans included in this green paper include: Encouraging employers to work with their employees with long-term health conditions, to stop them from falling out of work, A…