SA Returns for 2017-18 tax year
Between now and the end of May 2018, all clients should receive either SA paper returns or a notice to complete a tax return letter (SA316).
Clients can access some of the tax information they need online through their Personal Tax Account (see February newsletter for the article about PTAs).
If we submit your return online by 30/12/18 you can pay the SA bill though your PAYE tax code as long as you:
• owe less than £3,000 on your tax bill, and
• you already pay tax through PAYE
Look out for an email from Moore Accountancy with the new 2017/18 checklist or check this link for updates.
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Productivity Tools
This last month 3 clients have asked Moore Accountancy for recommendations on tools for logging mileage and time for projects.
We use a bespoke tool for ourselves but have come across the following over the years which may be of use to you.
They all have free versions or trials before you pay a low monthly amount.
Timr - www.timr.com https://troii.zendesk.com/hc/en-us/articles/231469867-timr-at-a-glance Projects - Time - Mileage
Toggl - Time - Projects
MileIQ - mileage free on basic plan
Verifyi - variety of receipts and mileage
Note that we do not recommend any of these apps over any other products on the market.
However if you use an app you highly recommend then let us know and we can put it in a future newsletter.
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PFP Tax Investigation Insurance
Over the years many clients have requested tax investigation fee protection insurance and to keep things competitive Moore Accountancy have partnered with PFP this year instead of TaxWise.
The insurance does not cover any penalties you may get from HMRC for failure to file correct information, but covers the time costs for a professional accountant to deal with any correspondance, prepare and attend any meetings with HMRC and submit appeals up to the First Tier Tribunal.
This insurance is not necessary if you have a simple business structure and would be able to deal with any HMRC inquiry yourself.
Note under our standard letter of engagement, our charges would be extra for any of the above work.
If you do wish to take up this insurance then please return the relevant paperwork to the office.
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Contractor? Consider landmark IR35 case
The IR35 PSC legislation has been around since 2000 but has never really worked as intended, mainly because the interpretation of the legislation is based on the certain employment status tests, which lack clarity and are open to interpretation by the courts.
However, HMRC have recently won a key case on IR35 at the FTT concerning the BBC presenter Christa Ackroyd, who had been supplying her services to BBC through her PSC since 2006/07. The Tribunal agreed that the hypothetical contract would have been a contract of service. and was pursuant to a highly stable, regular and continuous arrangement. It involved a high degree of continuity rather than a succession of short term engagements, which is a pointer towards an employment contract.
Another key factor was that a fellow presenter was on the BBC payroll. An appeal has been raised against demands for ~£420k from HMRC relating to Tax and NIC for the tax years 2006-2013. It will be interesting to see if there is an appeal to a higher court and whether this decision will be used by HMRC against other BBC presenters and other personal service companies.
Please contact us if you wish to discuss whether or not the employment status or IR35 rules impact on your working arrangements.
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