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Welcome to our May 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.

Accountant urges farmers to seek assistance with BPS payments ahead of the deadline

With just weeks left until the Rural Payments Agency (RPA) closes the Basic Payment Scheme (BPS) 2018 application window, Paul Laird of leading independent accountancy firm The Fish Partnership is encouraging farmers to seek help if they are struggling.

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Do you offer an EMI scheme? These are the new rules you need to know about

EU State Aid approval for the Enterprise Management Incentives (EMI) scheme expired on 6 April 2018, meaning any share options received after this date may not be eligible for tax reliefs.

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Dividend Allowance cut could cost you £1,143. Is it time to restructure?

For a while, company directors have been able to make a tax-efficient living by taking a combination of salary and dividends due to the generous Dividend Allowance.

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Workplace pension contributions more than double

The percentage of salary employers and employees must contribute to a workplace pension has increased from 6 April 2018.

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1.3 million SMEs hoping to branch out internationally to boost growth

An annual survey suggests that some 1.3 million UK-based small and medium-sized enterprises (SMEs) intend to branch out overseas this year in a bid to expand their horizons and fuel their growth plans.

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OTS calls for overhaul of ‘complex’ tax charges and reliefs

An overhaul of “the complex patchwork” of tax charges and reliefs affecting businesses throughout various stages of the business lifecycle is urgently required in order to stimulate growth among small and medium-sized enterprises (SMEs), the Office of Tax Simplification (OTS) has said.

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270,000 late penalty notices cancelled by the Revenue

A response to a freedom of information request has revealed that HM Revenue & Customs (HMRC) cancelled 270,000 late penalty notices in 2016.

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Key Dates

22 May 2018 – Deadline for electronic remittance of PAYE, NICs and CIS to HMRC.

31 May 2018 – P60s to be given to all employees.

7 June 2018 – VAT returns and payments due for Accounting Quarter period ending 30 April if filed online.

19 June 2018 – Deadline for postal payments remittance of PAYE, NICs and CIS to HMRC.