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March 2019

Making Tax Digital: Timing is everything

With Making Tax Digital just around the corner, there has been some confusion around when businesses need to sign up for the new Business Tax Account and submit their VAT return through their accounting software.  In our latest blog, we look at the timings involved. 

New ESFA guidance for academies on declaring related party transactions

The ESFA has released guidance on declaring related party transactions in advance of new reporting requirements coming into force on 1 April 2019.

Making Tax Digital Update: HMRC Letters

HMRC have been writing to VAT registered businesses about Making Tax Digital for VAT, they have confirmed that all letters have now been sent.

Academy update – Related Party Transactions

From 1 April 2019, Academy trusts are required to declare all related party transactions in advance.

VAT chargeable on all non-refundable deposits

HMRC has confirmed a new policy that VAT will remain due on a deposit, even if the customer does not use the goods or services for which it was paid – this comes into effect from March 1 2019. This change will affect the hospitality industry significantly (but it will also apply to other businesses), which will soon be unable to recover VAT charged on cancelations or ‘no show’ charges.

Spring Statement 2019: What you need to know

Against a backdrop of continuing uncertainty over Brexit, the Chancellor’s speech today was mainly concerned with economic matters and the government finances, which are very much dependent on what finally happens regarding Brexit.

Making Tax Digital: Are you aware of the changes to the Government Gateway?

Making Tax Digital is fast approaching; therefore it is important for mandated businesses with taxable turnover of £85,000+ start preparing for the switch over in April 2019.   The first VAT period affected is the period which begins after 1 April 2019.

Payroll changes from April 2019

There are a number of payroll changes coming into effect from April 2019 that employers need to be aware of.  

National Minimum Wage increases on 1 April 2019

From the 1st April 2019, the National Minimum wage is increasing.  

Insider fraud: What charities can do to minimise the risks.

The Charity Commission has published a report on their study into how insider fraud is affecting charities and non-profit organisations.  

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