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Harts May Monthtly news round-up

5th May
Harts May Monthtly news round-up

In the latest monthly newswire, we look at:

  • General Election and Tax Law – with the announcement of a snap General Election on 8th June, the time available for scrutinising proposed legislation is short so the Finance Act was rushed through Parliament.
  • Business response to General Election on 8th June – Carolyn Fairbairn, CBI Director-General, has commented on the upcoming General Election.
  • Off payroll working in the public sector rules amended – From 6 April 2017, new tax rules were introduced which potentially affect individuals who provide their personal services via their own companies (PSCs) to an organisation which has been classified as a ‘public authority’
  • Tax-Free Childcare rolled out – the new government scheme to help working parents with the cost of childcare, launched on 28 April 2017.
  • 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 2017.
  • Investment Bond launched – National Savings and Investments (NS&I) has recently launched a government-backed Investment Bond.
  • Changes to the PAYE Tax system using Real Time InformationHMRC have announced that from the end of May 2017 they will be using Real Time Information to make adjustments to employee tax codes in-year as and when the need arises. 

For further information on any of the articles or to discuss in more detail, contact Harts on 01625 669669