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February 2019

Advisory Fuel Rates from 1 March 2019

The advisory fuel rates are changing from the 1st March 2019.

Tax Diary March 2019

Important tax dates for March.

Changes to minimum wage rates

From April 2019, minimum pay rates will increase as set out below.

Last call for VAT traders to prepare for new filing regulations

As we have mentioned before, VAT returns filed for periods commencing on or after 1 April 2019, may need to be filed using the new Making Tax Digital (MTD) protocols. The new filing obligations will apply to VAT registered businesses with turnover above the current VAT registration limit, £85,000.  

Limitations of tax relief when you sell your home

It is a commonly held point of view that when you sell your home you won’t pay any tax, and in particular, that you won’t pay any Capital Gains Tax on the difference between the purchase and sales prices.

Do you need to outsource your payroll?

In the UK, there are around 1.4 million businesses that employ staff to run payroll in house. 

Self Assessment Update

On Friday 1st February, HMRC announced that over 93% of taxpayers filed their self-assessment tax returns on time and before the 31st January deadline.