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The latest news from Hawsons Chartered Accountants
Welcome news for pharmacies as Category M prices are set to increase from August.
Category M reimbursement prices will increase by £15 million a month from August 2019 while the single activity fee (SAF) will increase to £1.27, the Pharmaceutical Services Negotiating Committee (PSNC) has announced. This is to correct a predicted shortfall in the...
Tax gap remains low
HMRC has published a report showing that the UK tax gap in 2017/18 is estimated to be £35 billion. This is 5.6% of total theoretical tax liabilities, and a small increase of 0.1% from 5.5% in 2016/17. HMRC therefore secured 94.4% of all tax due. The tax gap is the...
New measures to ensure small businesses get paid on time
The government has announced a package of measures to ensure small businesses get paid on time. Under the proposals large businesses could be fined for failing to pay smaller suppliers on time as part of a robust package of measures. The measures include: proposed new...
Preparing for the IR35 rules changes
If your business utilises subcontractors who provide personal services through limited companies or other intermediaries then you may have to make substantial changes to comply with the new rules. The government has reformed the off-payroll working rules which will...
Government backs pension flexibility to stop taxes undermining NHS workforce
Senior doctors will have more flexible pensions under new plans launched by the government. The government argues high-earning clinicians would be able to take better advantage of pension provision and working patterns by building their NHS pension more gradually over...
Advisory fuel rates for company cars
New company car advisory fuel rates have been published which take effect from 1 June 2019. The guidance states: 'You can use the previous rates for up to one month from the date the new rates apply'. The rates only apply to employees using a company car. The advisory...
Consultation on ancillary capital gains reliefs
A capital gains tax (CGT) exemption applies when an individual disposes of a dwelling that has been used as their only or main residence under the Private Residence Relief (PRR) rules. The exemption applies as long as the relevant conditions are met throughout the...
Tenant Fees Act: 2019
The new rules for landlords and letting agents in England came into effect on 1 June 2019. The Tenant Fees Act will make it illegal to charge tenants any fees apart from the rent, deposits, and other necessary costs. It means tenants will no longer face fees for...
MAKING TAX DIGITAL FOR VAT: What you need to know now April 2019 is here!
VAT registered businesses with a taxable turnover above the VAT threshold (£85,000) are now required to use the Making Tax Digital service to keep records digitally and use software to submit their VAT returns for VAT periods that started on or after 1 April 2019. The...
