In our monthly newswire we keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we’re here to help.
- Off-payroll rules for the private sector – The government has published the draft legislation for the next Finance Bill including the rules for off-payroll working in the private sector
- Digital Services Tax – From April 2020, the government will introduce a new 2% tax on the revenues of search engines, social media platforms and online marketplaces which derive value from UK users.
- Insolvency hierarchy changes – From 6 April 2020, insolvency legislation will be amended to move HMRC up the creditor hierarchy for the distribution of assets in the event of insolvency.
- Private Residence Relief changes – The government published draft legislation for the next Finance Bill including draft clauses on the changes to Private Residence Relief .
- Working parents may be eligible for tax-free childcare this summer – The government is reminding working parents that they could ease this summer’s childcare costs by using Tax-Free Childcare.
- VAT changes may cause construction chaos – The Federation of Master Builders (FMB) is warning that a major change in the way that VAT is accounted for in the building and construction sector which takes effect later this year may cause chaos.
- Wage growth at a high – Data published by the Office for National Statistics (ONS) has revealed that UK wage growth increased to 3.6% in the year to May 2019, the highest rate since the financial crisis in 2008.
- Updated guidance on spotting HMRC scammers – HMRC has updated their list of examples of websites, emails, letters, text messages, WhatsApp messages and phone calls used by scammers and fraudsters to obtain an individual’s personal information.
