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Insider – September 2017

25 September 2017

The Insider for September includes articles on the following subjects. Please click on the image to the left if you’d like to download the full details of the articles.

High value dealers need to register for cash payments

Businesses accepting cash payments…

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September 2017 – Changing your company car? What about a hybrid next?

11 September 2017

The next Finance Bill will include legislation to reduce significantly the taxable benefit on the provision of low CO2 emission cars from April 2020.

From 2020 there will be a 2% benefit in kind for company cars that emit no CO2 such as…

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September 2017 – Trivial benefits

Remember that from 6 April 2016, benefits are exempt from tax and NICs if all the following conditions are satisfied:

• the cost of providing the benefit does not exceed £50;
• the benefit is not cash or a cash voucher;
• the employee is not entitled to the benefit as part…
  

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September 2017 – Reporting expenses and benefits provided to employees

HMRC have recently updated their toolkit dealing with the reporting of expenses and benefits provided to employees and directors in the light of significant recent changes in this area.

HMRC toolkits are designed to help minimise the risk of errors in returns and computations and their use, although voluntary, will…

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September 2017 – Reporting VAT online – Aren’t we doing that already?

Last month we reported that the government had announced the delay of Making Tax Digital for Business (MTDfB) to 2020 at the earliest but that quarterly VAT reporting, using the new system will be mandatory from 2019.

Surely we are doing that already you might say. However, currently businesses are…

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September 2017 – Is your company carrying out Research and Development?

Many companies are still missing out on valuable tax breaks for expenditure on research and development (R&D). Revenue and Customs (HMRC) have recently updated their guidance on claiming R&D tax credit relief and have reminded companies that it is possible to obtain advance assurance that the R&D activities are…

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September 2017 – New company loss rules go ahead

The Finance Bill due to be debated in early September will finally include the new rules for the set off of company losses that were originally announced in March 2016.

As a result of the first Finance Act being rushed through due to the snap General Election the legislation to…

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