What’s New
15-06-2017
Using the trivial benefits exemption
The trivial benefits in kind (BiK) regime came into effect in April 2016. This statutory exemption applies to small non-cash benefits like a bottle of wine or a bouquet of flowers given occasionally to employees or any other benefit in kind classed … read more
15-06-2017
Post-election comment
The recent election result has certainly thrown the cat amongst the pigeons.
There are already indications that the Queen’s speech and the start of Brexit negotiations may be delayed, this mainly due to extended negotiations to agree support for the … read more
15-06-2017
Benefits filing deadline approaching
Employers are reminded that the deadline for submitting the 2016-17 forms P11D, P11D(b) and P9D is 6 July 2017. P11D forms are used to provide information to HMRC on certain benefits and expenses that employees and directors receive during the tax … read more
15-06-2017
VAT Flat Rate Scheme – limited cost traders
The VAT Flat Rate Scheme (FRS) was introduced to ease the process of calculating and submitting VAT returns for smaller businesses – the FRS is only available to businesses that expect their annual taxable turnover in the next 12 months to be no more … read more
15-06-2017
Main Residence Nil Rate Band
The impact of Inheritance Tax has been reduced recently for families that own their own home. HMRC has introduced a new relief, the Inheritance Tax main residence nil-rate band (RNRB), which came into effect on 6 April 2017.
The RNRB is a … read more