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Welcome to our November Newswire...

Our aim is to keep you up to date with ideas and information that will help you gain the best possible advantages in working with us. This newswire will be sent regularly to help achieve this aim, and we hope you enjoy reading them.

We operate a responsible email policy at Fish Partnership, so if you do not wish to receive further copies of this newswire, click here to unsubscribe.

Farmers need to be ready for future digital tax changeover, warns accountants

By 2020 all businesses in the UK will be expected to file their tax details online using HM Revenue & Customs’ (HMRC’s) new digital tax system, but The Fish Partnership fears most farm businesses won’t be ready.

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Arable farmers need to make the most of lower input costs, says the Fish Partnership

New figures have revealed that the costs faced by arable farmers have fallen, a decline which accountancy firm The Fish Partnership say could help the industry.

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Don’t miss the self-assessment deadline

With only a few months left to ensure that their tax returns are completed correctly and filed on time, businesses and individuals are being encouraged to seek help.

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Businesses reminded of changes to National Minimum Wage

From 1 October the UK national minimum wage (NMW) has increased for all workers under the age of 25. For the 270,000 workers aged 21-24 in the UK earning the NMW this means they have seen their hourly wage rise to £6.95 from £6.70, which for those working a typical 35 hour week will mean...

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HMRC to roll out real time PAYE coding adjustments by 2017

HM Revenue & Customs (HMRC) has released a list of priorities to allow for real time adjustments to taxpayer’s tax codes so that they pay the right amount of tax within the current tax year, as part of their ongoing Making Tax Digital (MTD) campaign.

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UK tax gap falls to record low as HMRC targets serial offenders

Official statistics have shown that the UK tax gap fell to its lowest-ever level of 6.5 per cent in 2014/15, as HM Revenue & Customs (HMRC) intensifies its crackdown on tax avoidance, evasion and non-compliance.

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Accountancy body issues cyber crime warning

The Institute of Chartered Accountants in England and Wales (ICAEW) has issued a warning to businesses about the need to put measures in place to avoid falling victim to cyber crime.

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The clock is ticking away on BPRA (Business Premises Renovation Allowance)

The ten year window during which 100 per cent relief can be claimed under the BPRA on the renovation or conversion of unused commercial property for business use is drawing to a close on 31 March 2017.

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Chancellor urged to reform tax policymaking

A trio of influential organisations has urged the Chancellor to implement a series of reforms to the tax policymaking process.

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Key Dates

19 November 2016 – Deadline for postal payments remittance of PAYE, NICs and CIS to HMRC.

22 November 2016 – Deadline for electronic remittance of PAYE, NICs and CIS to HMRC.

19 December 2016 – Deadline for postal payments remittance of PAYE, NICs and CIS to HMRC.

Payments of PAYE and NI must reach HMRC by the 19th of the month following the tax month in which the salary payment was made if paying by cheque, or by the 22nd of the month if paying electronically. Please note that if the 19th or 22nd falls on a weekend or bank holiday, payment must reach HMRC on the last working day before the weekend or holiday.