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01/05/2019

May Tax Tips & News

Welcome to the Boon and Worth Tax Tips & News monthly newsletter, bringing you the latest news to keep you one step ahead of the taxman.

If you need further assistance just let us know or send us a question for our Question and Answer Section.

We’re committed to ensuring none of our clients pay a penny more in tax than is necessary and they receive useful tax and business advice and support throughout the year.

Please contact us for advice on your own specific circumstances. We’re here to help!

Taxpayer wins IR35 challenge
HMRC have recently lost another high-profile IR35 case. Kaye Adams, the presenter of ITV's Loose Women programme, has successfully challenged HMRC on her employment status, with a First Tier Tribunal (FTT) finding the terms of her personal services contra Read More...
 
Minimum workplace pension contributions rise
The minimum contributions employers and their staff must pay into their automatic enrolment workplace pension scheme increased with effect from 6 April 2019. From that date, the employer minimum contribution has risen from 2% to 3%, while the staff contr Read More...
 
VAT Flat rate scheme
The VAT flat rate scheme (FRS) is used by many small businesses to help simplify their VAT reporting obligations, although some VAT experts would argue that the scheme is not simple to use. Read More...
 
Rent-a-room tax break remains
HMRC's rent-a-room scheme currently allows individuals to receive up to £7,500 of gross income from renting out spare rooms in their only or main home without a liability to tax arising. Broadly, as long as income is below the annual threshold, it does no Read More...
 
May questions and answers
Q. I have realised that I made a mistake on my most recent VAT return. What do I need to do to put things right? Read More...
 
May key tax dates
2 - Last day for car change notifications in the quarter to 5 April - Use P46 Car 19/22 - PAYE/NIC, student loan and CIS deductions due for month to 5/5/2019 Read More...
 

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