Archives for Uncategorised

Employer Bulletin – latest guidance

HMRC has issued the June 2019 edition of the Employer Bulletin. This includes articles on a number of issues including: labour supply chain fraud using loans to avoid Optional Remuneration Rules re-enrolment of staff back into a workplace pension scheme GDPR fees contractors operating CIS – new VAT reverse charge on building and construction services using Tax-Free Childcare to make school holidays easier. If you have any queries on payroll matters please contact us. Internet link: Employer Bulletin If you would like any advice please do get in touch by either calling 0115 928 3228 or email info@coalesco.co.uk  
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Making Tax Digital for VAT latest

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the rules, businesses with a taxable turnover above the VAT threshold (currently £85,000) must keep digital records for VAT purposes and provide their VAT return information to HMRC using compatible software. The rules have effect from 1 April 2019 where a taxpayer has a ‘prescribed accounting period’ which begins on that date, or otherwise from the first day of a taxpayer’s first prescribed accounting period beginning after 1 April 2019. However for some VAT-registered businesses with more
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Preparing the workforce for EU Exit

Over two-thirds of EU citizens that are currently in the UK are here for work. The government is advising that if these individuals plan to remain living and working in the UK after it leaves the EU, they can now apply to the EU Settlement Scheme (EUSS). EU, EEA, or Swiss employees, and their family members can apply to the EUSS if they want to continue to live, work, and study in the UK after 31 December 2020. This applies whether the UK leaves the EU with a deal or with a ‘no deal’. Under the scheme, successful applications will
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News from Coalesco – March 2019

In this month’s E-news we report on the ongoing Brexit uncertainties and latest HMRC advice. We also consider National Minimum Wage, National Living Wage and pension contribution increases and the latest guidance for employers. HMRC advice – prepare for no deal HMRC is urging business owners to make sure they are ready for a potential no deal Brexit. Business owners are being urged to prepare now and take steps to ensure their businesses can continue to trade with the EU if the UK leaves the EU without a deal. HMRC advise: Businesses should register for an Economic Operator and Registration
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HMRC online forum and webchat

HMRC have announced the introduction of a new online tax forum and webchat service for small businesses. HMRC are advising that the new service called the Small Business Online Forum offers advice on tax matters as well as help with: Starting a business Support for growing a business – including taking on employees and expanding Buying and selling abroad Completing tax returns Tax credits. Please contact us for specific tailored advice on any of these matters. Internet link: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page
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GDPR: Get ready for the new data protection rules

The government is to introduce new data protection rules under the General Data Protection Regulation (GDPR) which takes effect from 25 May 2018. Under the GDPR businesses will have increased obligations to safeguard the personal information of individuals which is stored by the business. These rules apply to the information of customers, suppliers or employees. Generally for those who are currently caught by the Data Protection Act it is likely that you will have to comply with the GDPR. GDPR will apply to data ‘controllers’ and ‘processors.’ Processing is about the more technical end of operations, like storing, retrieving and
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