Newsletter - Winter 2015

Our lead article 'HMRC gone phishing?' warns of the dangers of bogus HMRC emails, texts and websites. We also include links for reporting incidents and viewing examples. With the self assessment deadline approaching it is important to be vigilant as the deadline has previously prompted an increase in phishing activity.

We advise on availability, for a limited period, of the pensions top up window. This enables those eligible to top up their State Pension entitlement by up to £25 per week. The Class 3A lump sum payment required varies depending on your age and sex.

The Enterprise Investment Scheme is now over 20 years old. Our article considers the significant tax breaks available and points out the pitfalls of failing to claim the tax reliefs available on a timely basis.

We report on the introduction of a register of persons with significant control (PSC) which will need to be maintained by companies and filed at Companies House. The register will allow interested parties to check who ultimately controls the company.

Changes are proposed to the rules for claiming a deduction for the costs of repairs and replacement furnishings for landlords of residential property. We consider the impact of the proposed changes for landlords of unfurnished, partly and fully furnished residential property.

A new service, aimed particularly at smaller employers, who have employees on long term sick leave is being introduced. We outline Fit for Work which is an independent assessment of an employee which provides a plan to help the employee get back to work.

We also consider whether your business may be at risk for 'failure of commercial organisations to prevent bribery' and the procedures that need to be put in place to reduce your business' exposure and to prevent prosecution under the Bribery Act.

The Scottish Rate of Income Tax (SRIT) is to be introduced from 6 April 2016. We consider who the SRIT will apply to and the operation of PAYE for affected employers.

Please contact us if you have any questions regarding any of the articles we have included in our newsletter or if you would like further information on a topic we haven't covered. Your views are always important to us and we would welcome your feedback.

A new register for all companies

Disclaimer

Fit for Work

HMRC gone phishing?

Pension top up window open

Property income - repairs and replacements - more changes on the way

The birth of two types of income tax

What impact does the Bribery Act have on your business?

Why it doesn't pay to ignore the Enterprise Investment Scheme