Johnson Murkett & Hurst

• HMRC publishes guidance on MTD for ITSA for sole traders and landlords
  HMRC has published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords. MTD for ITSA will require businesses and landlords with qualifying income to maintain digital records and update HMRC each quarter via compatible software........ read more
• Over one million miss self assessment deadline
  Over one million self assessment taxpayers missed the filing deadline at midnight on 31 January, according to data published by HMRC. A record 11.5 million taxpayers did file their 2022/23 self assessment tax returns by the deadline. HMRC’s figures also showed that 1.1 million missed the deadline........ read more
• HMRC warns self assessment taxpayers as scam referrals rise
  HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January. The tax authority says that fraudsters could set their sights on self assessment taxpayers, with more than 11.5 million submitting a tax return by last month's deadline........ read more
• Double-cab pickups go back to being vans as guidance reversed
  Just a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government reversed the decision. On 19 February, HMRC confirmed that it’s reversing the updated guidance announced on 12 February, meaning that double-cab pickups will continue to be treated as goods vehicles rather than cars........ read more
• Pensions income needed to retire rises
  The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA). The rising cost of living and an increased importance on socialising following the pandemic had pushed up the income required by £8,000, the PLSA said........ read more
• More than 500 firms named and shamed for underpaying staff
  The government has named and shamed over 500 UK employers for underpaying their employees. 524 businesses were named for failing to pay the minimum wage to pay 172,000 workers, with offending employers ordered to pay nearly £16 million plus an additional financial penalty........ read more
• Latest guidance for employers
  HMRC has published the latest issue of the Employer Bulletin. The February issue has information on various topics, including:....... read more
• Advisory fuel rates for company cars
  New company car advisory fuel rates have been published and took effect from 1 March 2024. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car........ read more

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