NEWS FROM BAXTER & CO
ACCOUNTANTS IN ORPINGTON, KENT

The government published further guidance on the Job Retention Bonus on 2 October 2020.
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With the resurgence of the virus in September, the introduction once again of restrictions and the coming to the end
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The government has announced a reform of Companies House to clamp down on fraud and money laundering.
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Currently, you are able to take some or all of the cash held in your private pension pots at age
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On 2 September 2020, HMRC issued Revenue & Customs Brief 12 (2020) which completely overturns HMRC’s former published policy on
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HMRC is sending compliance letters to some employers about the claims they have made under the CJRS.
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Abacus Worldwide, an international association of independent accounting and legal firms and JHI an association of accounting firms have merged
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Effectively it is a subsidy to encourage employers to keep staff on their books as an alternative to redundancies.
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The Self-Employment Income Support Scheme (SEISS) will support self-employed individuals (including members of partnerships) during the Covid-19 crisis. The scheme
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In the last few days, the Government has made major announcements about help for small businesses and individuals affected by
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Year End 6
In the sixth and final article in our year end series, we look at various points for businesses to consider.
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Year End 5
In the fifth article of our year end series we look at Capital Gains Tax planning points, but we start
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Year End 4
For the fourth article in our year end series, we look at some considerations for directors and employees. 'Making good'
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Year End 3
In this third article in our year end series, we consider some property planning points. Tax-free rent When you let
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Year End 2
In this second article in our year end series, we look at some planning around investments and pensions. Interesting savings
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Preparing for the tax year end – planning with the family We are rapidly approaching the end of another tax
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Companies House Consultation - 5. Improving the detection of possible criminal behaviour
This is the final article in our series looking at the Companies House Consultation, the changes suggested by the Government
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Companies House Consultation - 4. Protecting Personal Information
This is the fourth in a series of articles examining the changes suggested by the Government in the consultation document
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Companies House Consultation - 3. Improving Accuracy
Following on from news that the Government has issued a consultation document proposing a ‘major upgrade’ to the responsibilities and
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Companies House Consultation - 2. Identity Checks
In May 2019, a consultation document was issued proposing significant changes to the responsibilities and powers of Companies House. Last
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Companies House Consultation - 1. Introduction
Earlier last year, a consultation document was issued that proposed a ‘major upgrade’ to the responsibilities and powers of Companies
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From the 1st June 2019, HMRC have made further changes to tax free fuel rates. Overall, most of the rates
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From 1 April 2019, Academy Trusts must report all related party transactions to the ESFA and seek prior approval from
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Mark Wildi, Tax Partner was pleased to attend the 3rd Annual EMEA Regional Meeting of Abacus Worldwide held in Venice,
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In this final article in our year end series, we conclude with a couple of capital gains tax points, but
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BIK
For our fourth article in our year end series, we look at some considerations for directors and employees. ‘Making good’
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Spare room?
Our third article in our year end series, considers some property planning points. Tax-free rent When you let rooms in
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In this second article in our year end series, we look at some planning around investments and pensions. ISA v
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With all the focus on the drama of Brexit, it is easy to forget that we are fast approaching the
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We recently received a question from a lady who was concerned about the interaction of pension and gift aid relief.
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Property-tax-image
We regularly receive questions about accounting and tax issues through our website and by email. In this article we thought
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cgt
The normal time limit for paying capital gains tax is by 31 January following the tax year end. So if
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Making Tax Digital Sept18
We have been reading about Making Tax Digital (MTD) for some time now, but with delay after delay, you may
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Changes to dividend tax Jul18
From 6 April 2018, the tax-free dividend allowance has reduced from £5,000 to £2,000. This change will impact investors and
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6 Top Tips for communicating - MailList
It’s well recognised that effective communication and employee involvement are huge motivators in the workplace. So, if you haven’t yet
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EMI actual
On 4th April, HMRC published its Employment-related Securities Bulletin No 27 (April 2018) advising that EU State Aid approval for
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BIK
From April 2018, it is now mandatory for employers who have opted to payroll some or all of their employees’
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Academy deadline dates
The financial reporting requirements of Academies differ from those of schools. If you are in charge of financial reporting for
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deadline-stopwatch
A new reporting requirement is being introduced meaning large companies and large limited liability partnerships (regardless of whether they are
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termination payments
On 6 April 2018, the tax treatment of termination payments is changing. Some previously exempt payments and benefits made on
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europe
The looming GDPR deadline has sent many organisations into a frenzy as they scramble to meet the regulations. But what
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hourglass-time-hours-sand
It’s that time of year again when the clock is rapidly moving to 31st January. Yesterday HMRC reported that a
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interview blog
You’ve advertised the job and shortlisted your candidates – now it’s time to interview them. Here are 10 tips for
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5 Tips for shortlisting candidates effectively
Someone told me a joke the other day… Q: How do you make sure you only employ lucky people? A:
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People priorities in well established SMEs
You’ve enjoyed business success and your organisation is well-established and growing. You’ve taken pride in the way you manage your
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What HR does my business need?
Getting the people and human resources aspects of your business right is an investment in making your business as successful
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The New Flat-Rate Scheme
In April this year, significant changes were brought in which affects the amount of VAT that many small business owners
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Increase in Auto-Enrolment contributions
According to figures released by the Office for National Statistics (ONS), auto-enrolment figures reached 39.2 million in 2016, which is
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People with Significant Control (PSC) Register Changes from June 2017
The new requirement for registered companies to keep a PSC register came into force from April 2016. From that date
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The Government confirms a new timetable for Making Tax Digital
As widely predicted following the outcome of the election, the timetable for Making Tax Digital has been pushed back.  In
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What you need to know about the Employment Allowance
The Employment Allowance is a great tax saving opportunity for most employers. The allowance helps to reduce the amount of
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Off Payroll Working – the new rules for the public sector
What it means for Academy Trusts The government confirmed in the Budget on 8 March 2017 that the new rules
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NIC U TURN
The budget last week contained two headline tax raising measures, the reduction in the dividend allowance and an increase in
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BUDGET MARCH 2017 – highlights
From April 2017: new announcements Package of measures to give some relief to those small businesses particularly badly affected by
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Goodbye Autumn, Hello Spring?
Going back to 1982, we have had Autumn Statements, which for a few years under Kenneth Clarke became Summer Statements,
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Autumn Statement 2016 – key points
Effective immediately From 23 November 2016 to 31 March/5 April 2019, businesses will be entitled to a 100% First Year
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Work-related training
We sometimes get asked by employers about the tax rules on training. Most employers know that if they pay for
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Termination payments – what is changing?
During the summer the Government has been consulting on draft legislation to change some aspects of the tax and National
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Reclaiming Stamp Duty Land Tax when replacing your main residence
The new higher rates of stamp duty land tax (‘SDLT’) have now been in force for over four months.  They
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Corporation Tax Loss Relief
It has long baffled many business owners as to how their company can have tax to pay on bank interest
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Spare room?
In contrast to the tax attack on the buy to let market, the government is keen for us to let
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Claiming back overpaid tax
The 2015/16 tax year ended on 5 April 2016.   And many people will have overpaid tax for the year. A
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Confirmation Statements – the new Annual Return from 30 June 2016
From 30th June 2016, the requirement to file an Annual Return at Companies House will be replaced by a new
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New Regulations: People with Significant Control (“PSC”) – An overview for Academies
With effect from 6 April 2016 UK companies are required to hold a register of People with Significant Control (‘PSC’).
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Watch out for the reduction in the Pension Annual Allowance for high earners
Individuals are able to make tax-relieved contributions to registered pension schemes to the higher of 100% of earnings and the
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Update on RTI penalties
The penalty regime for the late filing of full payment submissions (FPS) under RTI has been in place for some
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When is business travel not business travel?
The rules for determining whether travel qualifies as business travel for tax purposes can become complex in a number of
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New travel and subsistence restrictions
From 6 April 2016, there are restrictions on the allowability for tax of travel and subsistence expenses where individuals provide
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National Insurance Employment Allowance
The employment allowance increased on 6 April 2016 from £2,000 to £3,000 per employer per year, which is great news
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Expense and Benefit Reporting
Now that we have finished the 2015/16 tax year, and are past the final RTI submission deadline (19 April), it
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Who controls your company?
With all the recent talk in the news of transparency in the tax affairs of the Prime Minister, one measure
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Maximising the Main Residence Relief
With many people realising significant gains on the sale of their home, it is important to understand how capital gains
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Budget Summary 2016/17
Rich in detail, short on vision The Chancellor again lived up to his reputation with an adept performance appeasing small
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Dispensing with dispensations
The P11D dispensation will be no more as from 6 April 2016.   It is replaced by a new automatic statutory
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All change – the new dividend tax rules
The way in which dividends are taxed is changing from 6 April 2016.  For basic rate taxpayers and many business
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Are you about to buy a house or flat?
If you are in the process of, or thinking about, buying a house or flat, then you need to know
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The end of capital gains treatment on winding up?
Following the Autumn Statement the government has published a consultation on company distributions rules, along with proposed draft legislation. The
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Autumn Statement 2015 Summary
Introduction The headlines, and much of the talk, in the popular press is of the ‘U turn’ on tax credits.
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Autumn Statement 2015 Key Tax Points
Key points Effective immediately These measures come into effect for transactions on and after 25 November 2015: Relieving measure for
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Buy to Let – The End of Wear And Tear Allowance
In our last blog we looked at the changing tax environment for buy to let landlords. One of those changes
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The tax raid on buy to let properties
Our last blog looked at the implications of the new dividend tax whose principal target is owner managed businesses. The
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Eroding the benefit – Changes to the taxation of dividends
The surprise announcement in the summer budget last month was the introduction of a new tax regime for dividend income
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I have a small company, does auto enrolment apply to me?
You may recently have received a letter from the Pension Regulator asking you to nominate a contact for auto enrolment. 
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Budget opportunities – sharing out the family wealth
The summer budget a couple of weeks ago included a number of interesting measures.  From a taxation perspective the most
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The recurring problem of duality: Deductions for business expenses
Trading expenditure whether in a company, sole trader or partnership is only allowed as a deduction if it is incurred
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Year end planning for Businesses – 2014/15
In this second blog looking at year end tax planning we consider a few ideas for those in business. These
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Year end planning for Individuals – 2014/15
With your tax return filed for 2013/14, it is time before the end of the tax year on 5 April,
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Women are more likely than men to send in their tax return on time
Women are more likely than men to send in their tax return on time, an HM Revenue and Customs (HMRC)
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The removal, from April 2016, of contracted-out status for defined benefit scheme.
One of the less well publicised provisions of the Pensions Act 2014 was the removal from April 2016 of contracted-out
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IN YEAR PAYE TAX PENALTIES
HMRC have confirmed that in-year penalties for late filing of the PAYE full payment submissions (FPS) will start from October
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Late filing excuses
If come 1st February you are looking for an excuse to avoid a penalty for not filing your tax return,
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The drive to digitise at HMRC
In the next few years we will be seeing some big changes in the way that HMRC delivers its services.
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Recreation vs Education
Mistaking a recreational activity for an educational one can be costly.  In a recent VAT case, the tribunal found that
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The inequalities of tax
The widening income gap between the very top earners and the rest of the population is increasingly reflected in the
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