HMRC have announced that they are prioritising change in the department and as a result some parts of Making Tax Digital – MTD – will be delayed, according to the latest business and tax issues from Hallidays.
As the GDPR and P11D deadlines are looming, check out the latest updates below.
Changing priorities at HMRC
HMRC has shared a statement about how they are prioritising change in the department and as a result some parts of Making Tax Digital – MTD will be delayed.
GDPR compliance deadline looms
The Federation of Small Businesses (FSB) is warning small and medium-sized enterprises that time is running out for them to prepare.
Tax reliefs following the Scottish Budget
The Government has stated that it will ensure that tax reliefs continue to work as they were intended as the new Scottish Income Tax rates and bands are introduced.
EMI options may not qualify for tax relief
The Enterprise Management Incentive (EMI) allows selected employees (often key to the employer) to be given the opportunity to acquire a significant number of shares in their employer through the issue of options.
P11D deadline approaching
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2018, are due for submission to HMRC.
VAT fuel scale charges
HMRC have issued details of the updated VAT fuel scale charges which apply from the beginning of the next prescribed VAT accounting period starting on or after 1 May 2018.
HMRC consultation on benefits exemption for workplace charging facilities
HMRC are consulting on the tax exemption which will apply from 6 April 2018 on workplace electric charging facilities used by employees.