Anna’s Accountancy Alerts – April 2018
HMRC’s personal tax app
The latest version is easier to use and has more functions, including: view and check your tax code, NI records for state pension purposes and tax credits payment schedule.
Mortgages that work for the self-employed
A recent survey of self-employed professionals and directors across the UK carried out by FSB and Together, found that 61% felt they were unfairly disadvantaged by high street banks. Together offers a range for the self-employed: Together Money for the Self-Employed
Or telephone: 0161 210 5103
General Data Protection Regulation (GDPR)
Here is a tool to help: GDPR tool
Information needed to switch banks
UK Finance has developed a basic set of information needed to give to banks: Information needed to switch banks
HMRC construction tax status check
HMRC has a tool to check if a subcontractor should be classed as an employee or self-employed: Check Employment Status for Tax (CEST)
Be aware of a widespread scam in which taxpayers are told to buy iTunes vouchers in order to supposedly pay outstanding tax bills.
Childcare voucher scheme extended
Childcare vouchers will now be available for another 6 months. During this time new entrants will still be accepted.
VAT threshold review consultation
A treasury consultation has been set up to assess how the VAT registration threshold can incentivise small businesses to grow. The consultation proposes the introduction of a smoothing mechanism which would allow businesses to exceed the threshold by 50% for a single year without registering for VAT.
The consultation closes on 5/6/18.
If I can help you with any of these issues, then please get in touch.
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