Anna’s Accountancy Alerts – December 2017

by | Dec 11, 2017

Making Tax Digital for VAT

All VAT returns will have to be filed using software from April 2019.

The Chartered Institute of Taxation has highlighted that although 99% of VAT returns are submitted electronically, only 12% are filed using software.

Simple Assessment

From September 2017, this applies to new state pensioners with income over the 2016/17 personal allowance and PAYE taxpayers who have underpaid tax and cannot have it collected through their tax code.

In September, HMRC started sending out tax calculations and simple assessment letters (PA302).  Taxpayers should check all information is correct prior to making payment.

Tax code queries

If an employee has a tax code query then it’s best to advise them to log on to their personal tax account as this will show them how their tax code is made up.

Benefits in kind – pensions advice

From 6/4/17 there is no benefit in kind on payment of pensions advice up to the value of £500 in a tax year as long as one of the conditions is met:

  • condition A – provision is available to all employees, or employees at one particular location
  • condition B – provision is available to all employees, or employees at one particular location who have reached a qualifying age or are suffering from ill health

HMRC – No longer accepting credit card payments

Remember after 12/1/18 HMRC won’t be accepting credit card payments.  If you have cashflow problems and need to use a credit card, consider paying early.


From October 2017 as soon as you employ someone you have to auto-enrol them if the employee is old enough or earns enough.  Be aware that contributions increase to 2% from April 2018 and 3% from April 2019.

Correction of mistakes under RTI

In the current tax year they can be corrected on the full payment submission (FPS) but if the error relates to a previous year it can be corrected using an earlier year update (EYU)

If I can help you with any of these issues, then please get in touch.

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About Anna Goodwin

With over 30 years’ experience in delivering an exceptional accountancy service, and more than 12 years of being in business herself, Anna Goodwin knows small businesses, how they work and also the highs and lows that come with self-employment. It’s hard work but also immensely satisfying and this has inspired her to enable more of you amazing people out there to succeed at what you do!

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