Pillow May Team

Pillow Talk

Category: Tax

Contractors Temporary Workplace Rules

Contractors travelling to and from a client’s site must comply with HMRC’s temporary workplace rules if they wish to claim travel and subsistence expenses against their taxable profits. In general if travel is allowable then subsistence is too. “A workplace is a temporary workplace if an employee goes there only to perform a task of… Read more »

Spring Budget 2017

Philip Hammond has delivered his first Budget as chancellor. Here are the key points that we think you should be aware of. Taxation/Pay UPDATE: THE GOVERNMENT HAS NOW DECIDED NOT TO IMPLEMENT THIS INCREASE. The main rate of Class 4 National Insurance contributions for the self-employed to increase from 9% to 10% in April 2018 for… Read more »

Class 2 NI HMRC Confusion & Clarification

It has been brought to our attention that a mismatch of data between two HMRC legacy computer systems is creating problems for self-assessment calculations relating to 2015/16 and beyond for Class 2 NI. When the collection of class 2 NIC was transferred to the income tax self-assessment system for 2015/16 onwards, most tax advisers assumed… Read more »

Autumn Statement 2016 Summary

Philip Hammond delivered his first and last Autumn Statement this week. Here is a summary of the key announcements. Taxation/Pay Income tax threshold to be raised to £11,500 in April, from £11,000 £45k basic rate threshold (take home in basic rate threshold – £42,600 compared to £40,750 now if on minimum salary) Higher rate income tax threshold… Read more »

HMRC Tax Planning Deadlines 2016/17

The following reference schedule will help you avoid any interest charges or penalties from HMRC for late filing. 19th of each month – employers pay PAYE and send CIS returns to avoid penalties (PAYE by electronic funds transfer can arrive by 22nd of each month). 5 October 2016 – deadline for notifying HMRC if not within the self-assessment system and… Read more »

Guidelines for Intermediaries Reporting

If you don’t operate PAYE, you may have to send reports to HMRC for workers Working trends have changed in recent years and UK businesses are increasingly using intermediaries to get skilled staff at short notice for temporary engagements, resulting in HMRC introducing new reporting legislation and Guidelines for Intermediaries Reporting. Intermediaries might need to provide HMRC with… Read more »