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Relief at HMRC’s reversal of helpline closures | |
HMRC’s decision to halt its plans to restrict taxpayer helplines and direct people to online services instead has been met with relief by the Federation of Small Businesses (FSB). | |
The tax authority had announced that it was closing its self assessment helpline for six months every year. It was also restricting the opening times of its VAT helpline and the usage of its PAYE helpline. HMRC says it is halting these plans 'in response to the feedback while it engages with its stakeholders about how to ensure all taxpayers' needs'. | | | |
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New HMRC R&D tax relief guidance 'could be clearer', says ICAEW | |
New guidance from HMRC on Research and Development (R&D) tax relief 'could be clearer', according to the Institute of Chartered Accountants in England and Wales (ICAEW). | |
HMRC's draft guidance covers the restriction applying for contractor payments and payments for externally provided workers (EPWs) where the R&D activity takes place overseas; and the new rules for contracted-out R&D.
The ICAEW's Tax Faculty believes that additional clarity would be helpful on a few of the new points. | | | |
We have recently recorded a two-part series on the current and future changes to the R&D tax relief scheme and how they may affect your business. In this webinar series, our R&D tax experts Margaret Savory and Tracy Bacon will guide you through the current and upcoming changes to the R&D tax relief scheme and how they may affect your eligibility, calculation and submission of claims.The webinar consists of two parts which can be watched by clicking here. | |
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We are pleased to provide you with a copy of our tax data card, which summarises many of the rates and allowances fundamental to our business and personal lives. We are sure that you will find it a useful point of reference throughout the coming tax year.
Please click on the link below to download the document. Once you have downloaded the PDF on your mobile, select the share button and add to your Books app or save to file to allow you to keep the document on you at all times. | | | |
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| Ten point business manifesto | |
We have released, in partnership with The Business Magazine, a ten point business manifesto which crystallises what business leaders in the Thames Valley and South of England want from the next government. | |
The manifesto, which was sent to political leaders last month, set out ten key points from research carried out by The Business Magazine and ourselves over a three month period. The study spoke to business leaders from 40 companies across the Thames Valley and Solent with 100 senior decision makers from the region also canvassed in an online poll. | | | |
The findings were then presented to two think tank groups in the Solent and Thames Valley for consideration with the outcome being the ten point manifesto below. | |
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New fees for importing food and animal products into GB from the EU | |
From 30 April 2024, the UK government is introducing physical border checks on imported food and animal products from the EU for public health and animal welfare purposes. Post Brexit the UK government delayed the introduction of these inspections for EU imports, so physical sanitary or phytosanitary checks are currently only performed on animals and plants arriving from outside the EU. | | | |
Other commercial ports potentially can increase their fees to importers also to maintain their local facilities. The fee does not apply to personal imports for a passenger’s own consumption. | |
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HR and payroll update from outsourcing specialist JCHR | |
April is here, and with it the usual raft of changes to statutory rates and compensation limits, this year from a HR point of view. We also have a new right to carer’s leave, the extension of the special period of protection from redundancy for women on maternity leave, and the new right for any employee to request flexible working from day 1 of employment. | |
JCHR, our payroll and HR outsourcing service, has all of these changes in their April HR update for employers, which also contains a video briefing. You can access both by clicking here. Of course, it’s not just HR, April is also a significant month for payroll. On 6th March, Jeremy Hunt announced that from 6th April employee national insurance will be reduced by a further 2%, from 10% to 8%. | | | |
Additionally, self-employed national insurance was cut from 8% to 6% from 6th April. National insurance must be paid by workers over 16 years old who earn more than £242 a week, or self-employed people with profits of more than £12,570 a year. Those over the state pension age are exempt from NI, even if they are working. | |
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James Cowper Kreston is a leading firm of accountants and business advisers, with offices across the South of England. We deliver focused, innovative advice to a diverse range of businesses and individuals helping our clients to maximise their potential. If you would like to discuss any of the topics raised within this newsletter please email us on info@jamescowperkreston.co.uk or call us on 01635 35255. James Cowper Kreston | |
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The information in this newsletter must not be relied on as giving sufficient advice in any specific case.
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