PAYE and Making Tax Digital

HMRC’s Making Tax Digital project is about to make inroads into the PAYE system. Employers will see an increase in the number of tax codes being issued during the tax year. Hopefully that will turn out to be a good thing for employees but only time will tell. Read more

New data protection rules

There are new data protection rules in the pipeline, and they’re likely to get a lot more publicity in the months to come. The new initials to look out for are General Data Protection Regulation(GDPR). Read more

Hackers’ favourite sport. Phishing.

In early 2017, a UK company warned its employees about suspicious emails and how to deal with them. Two months later it sent a bogus email from the HR manager to a sample of employees requesting personal details. Despite the previous warnings, 54% of the employees clicked the link in the email and amazingly nearly all of those submitted data in the form provided via the link. Read more

New Tax-Free Childcare almost up and running

The new Tax-Free Childcare scheme is now half way through its roll-out period. The first round of applications began in April 2017 and by the end of the year all eligible parents can apply. Potentially annual childcare costs of up to £10,000 per child can be met by £8,000 of payments by the parents and £2,000 by the government. For a disabled child, the maximum top-up payments are £4,000. Read more

Off-plan purchases and Principal Private Residence exemption

An interesting tax case was heard before a First-tier Tribunal this year and has resulted in  victory for the taxpayer. The case is good news for individuals who have bought or who are making off-plan property purchases. Buying off-plan property means purchasing property – typically an apartment – in advance of its completion and has become much more common in the UK in recent years. Read more