Welcome to Simia Farra & Company
<h1 class="entry-title">Author: <span class="vcard">David Leff</span></h1>
27 Aug

Agent Update: issue 67

Agent Update 67 is available now. Topics like Customs Declaration Service, disguised remuneration tax avoidance schemes and repayment of Postgraduate Loans are also covered in the new issue. The full document is available here. source: – taxagents.blog.gov.uk If you would like to get in touch with one of our team of accountants who can support you […]

09 May

Preparing clients to digital record keeping

From April 2019, businesses with taxable turnover above the VAT registration threshold will be required to keep digital records and submit VAT returns using MTD (Making Tax Digital) compatible software. It is not too early to start preparing and moving clients to MTD using, so they can benefit from a more straightforward and transparent way […]

09 Apr

New rules for taxation of termination payments

Employers will need to pay Income Tax and Class 1 National Insurance contributions (NICs) on an element of all termination payments from 6 April 2018. This change applies to payments, or benefits received on, or after, 6 April 2018 in circumstances where the employment also ended on, or after, 6 April 2018. For more information, […]

26 Mar

Upcoming Talking Points – What’s New for Employers 2018 and Complaints

As you may already know, Talking Points meetings provide up to date information, guidance and tips to help agents to understand tax issues. The next Talking Points meetings are: Tuesday 27 March – What’s New for Employers 2018 This meeting gives you an in-depth guidance on the employer payroll changes from 2018, including the change […]

22 Feb

Agent Update 64

Agent Update 64 is now available and contains a variety of articles, updates, help and support for the entire agent community. Highlights include articles about: Fulfilment House Due Diligence Scheme A new guidance on the Serial Tax Avoidance Regime A service focusing on client-specific issues, provided by HMRC’s Agent Account Managers (AAMs) For Agent Update […]

01 Feb

Corporate interest restriction

From 1 April 2017, if your company or group has more than £2 million of net interest and similar financing costs, the Corporate interest restriction rules may restrict interest deductions for UK Corporation Tax purposes. The GOV.UK webpage Corporate interest restriction on deductions for groups covers: in what circumstances you might appoint a reporting company […]

04 Jan

Agent update: Self Assessment special

Agent updates give guidance and news to tax agents and advisers. This time HMRC has published a Self Assessment edition of Agent Update containing a range of information and support to help agents and their clients meet the 31 January filing date. The publication highlights the top four HMRC SA related agent toolkits looking at […]

21 Dec

Self Assessment (SA) toolkits

Did you know clients can pay their SA liability through their 2018-19 PAYE tax code as long as all these apply: the tax due is less than £3,000 they already pay tax through PAYE, e.g. they are an employee or receive a company pension a 2016-17 paper tax return was submitted by 31 October 2017 […]

30 Nov

Talking Points in December

Upcoming Talking Points meetings in December: Trade losses 7 December 2017, 2pm to 3pm Basis periods 7 December 2017, 12pm to 1:15pm Agent access to services 1 December 2017, 11am to 12pm Income from property 8 December 2017, 11am to 12:15pm 8 December 2017, 2pm to 3:15pm Capital allowances on vehicles 13 December 2017, 11am […]

16 Nov

Draft legislation: The Income Tax (Pay As You Earn) Regulations 2017

A technical consultation paper about income tax regulations was published on November 14 and is open for comment until 28 November 2017. The consultation paper incorporates draft PAYE Regulations and invites comments about the planned changes in respect of Car Data Reporting Requirements and the Reporting of Taxable Amounts due under Optional Remuneration Arrangements (salary […]