Anna’s Accountancy Alerts – March 2018
Do you want to be part of the Making Tax Digital (MTD) trial?
MTD isn’t scheduled to start until April 2019 but you can get involved earlier: email@example.com
By joining now you’ll get more help and support than waiting until it goes fully live.
Preparing the last Full Payment Submission (FPS) of the year
Link: Last FPS of the year
From April 2018 the minimum pension contributions for employers will increase from 2% to 5% and then 8% in 2019.
Self-assessment (SA) returns 17/18
If you submit your SA returns on paper by 31/10/18 or online by 30/12/18 you can pay your SA bills through your PAYE code if you owe < £3K and already pay tax through PAYE.
Tax-free childcare open to parents of children under 12
Parents can now get up to £2K (£4K for disabled children) a year towards their childcare costs.
See what help is available: Childcare Choices
General Data Protection Regulation (GDPR)
On the whole, small businesses won’t need to appoint a data protection officer. This will only be necessary if there is large scale monitoring or processing of special categories of data.
The new Whatsapp for business app
The business version of Whatsapp has been launched. You can set a business profile, including opening hours, contact details, etc. At the moment it’s only available on Android devices.
Amending tax codes for the new tax year
To be amended for pay days from 6/4/18 onwards. If you haven’t received an amended code then increase them by the set amount below:
- Any tax code ending in L add 35 – 1150L becomes 1185L
- Any tax code ending in M add 39
- Any tax code ending in N add 31
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