Kas turės registruotis MTD (Making Tax Digital) sistemoje ir teikti ataskaitas?

MTD ITSA bus privalomas:
• Savarankiškai dirbantiems asmenims (sole traders)
• Nekilnojamojo turto savininkams (landlords), gaunantiems pajamas iš nuomos.
Tačiau tik tuo atveju, jei jų pajamos viršija nustatytas ribas:

Įsigaliojimo data Pajamų riba (bendra metinė savarankiško darbo ir nuomos pajamų suma)
nuo 2026 m. balandžio daugiau nei £50,000
nuo 2027 m. balandžio daugiau nei £30,000
nuo 2028 m. balandžio daugiau nei £20,000
Jei pajamos mažesnės už nurodytas sumas, pereiti prie MTD kol kas neprivaloma.

Kas galės atlikti registraciją ir teikti ataskaitas?
Registraciją ir ataskaitų teikimą MTD galės vykdyti:
• Pats mokesčių mokėtojas (savarankiškai dirbantis)
Naudojant patvirtintą mokesčių programinę įrangą (MTD suderinamą programinę įrangą), integruotą su HMRC sistema.
• Buhalteriai ir mokesčių atstovai
Bet kuris kvalifikuotas buhalteris arba mokesčių konsultantas gali pateikti deklaraciją jūsų vardu. Tam turite suteikti jam įgaliojimą (agent authorisation) per HMRC.

Kaip vyks MTD ITSA ataskaitų teikimas?
Jūs turėsite visus metus skaitmeniniu būdu registruoti savo pajamas ir išlaidas.
Keturis kartus per metus (ketvirčiais) turėsite pateikti skaitmenines ataskaitas apie pajamas ir išlaidas HMRC.
Metų pabaigoje reikės pateikti galutinę (metinę) ataskaitą, patvirtinančią metų rezultatus ir galutinai apskaičiuojančią mokesčius.

Išimtys iš MTD
Ne visi privalo naudotis skaitmenine sistema. Yra išimčių:
Žmonės, kuriems sunku ar neįmanoma naudotis skaitmenine apskaita (pvz., senyvo amžiaus, neįgalūs ar neturintys prieigos prie interneto).
Tam tikriems mokesčių mokėtojams, kurie negali naudotis skaitmeniniais paslaugomis, gali būti suteikta išimtis, pateikus prašymą HMRC.

Santrauka:
Jei jūsų pajamos (iš nuomos ar savarankiškos veiklos) viršija nustatytą ribą, turite pereiti prie MTD.
Ataskaitas galima teikti savarankiškai arba per buhalterį/agentą.
Sistema numato ketvirtines ataskaitas ir vieną galutinę metinę ataskaitą.
Asmenys, turintys mažas pajamas ar ribotas galimybes, gali gauti išimtį.

Ši sistema siekia supaprastinti mokesčių apskaitą, sumažinti klaidų skaičių ir padaryti mokesčius skaidresnius tiek mokesčių mokėtojams, tiek HMRC.

Check if a letter you’ve received from HMRC is genuine

Letter OCA300 — repayment of student loan deductions

HMRC will contact you by letter to tell you there is a repayment of student loan deductions due.

We will include details of why the repayment is due and the employer you worked with at the time.

This letter will tell you about changes to the way we issue repayments as a result of the coronavirus (COVID-19) situation.

We will ask for personal information to allow us to make a faster repayment.

You can call the Taxes general enquiry helpline to confirm this request is genuine.

Letter VPCF1 — decision to cancel your VAT registration

As part of HMRC’s VAT registration security procedures, we check registrations to test their intention to trade is valid.

If we believe you are not eligible to be registered for VAT, you may receive a letter from us advising of our intention to deregister you.

If you send us information to show you’re eligible for registration within 30 days, you will stay registered. This means you will be able to manage your VAT records with HMRC.

We will let you know what information and documents to provide. If this is not sent within 30 days HMRC will deregister the business from VAT.

OECD Pillar 2 user research with mid-sized businesses

From 13 February 2023 up to 30 April 2023 HMRC may contact you by letter.

If you’re an organisation likely to fall within the scope of Organisation for Economic Co-operation and Development (OECD) Pillar 2, you may get a letter from HMRC inviting you to take part in research. Taking part is voluntary and interviews will take place in March and April 2023.

We’ll ask how your organisation files tax returns and incorporates new tax regimes. We will not ask you to disclose any sensitive information.

If you agree to take part, information you provide will be used in the development of OECD Pillar 2 digital services.

Overdue deferred VAT

From 14 February 2023 up to and including 31 March 2023 HMRC may contact you by letter.

You may get a letter from HMRC asking you to pay your deferred VAT bill from the VAT payment period 20 March 2020 to 30 June 2020.

If you do not pay or contact us within 30 days of the date of the letter, we may charge you a penalty.

More information about how to pay your VAT bill is available.

Self Assessment — claiming a repayment

You may get a letter from HMRC asking you to contact us about your repayment claim.

We may ask you to send more information to verify your claim.

You must respond to the letter so we can make any repayments owed to you as soon as possible.

You can call the Self Assessment: general enquiries helpline if you need further support or you’re not sure if the letter is genuine.

Other letters you should check

You can also to check letters listed in HMRC contact that uses more than one communication method.

Увеличение выплат по пособиям с Апреля 2023

Канцлер Джереми Хант объявил в ноябре, что любой, кто получает пособия DWP, увидит увеличение на 10,1% по сравнению с апрелем в соответствии с уровнем инфляции в сентябре. Те, кто получает базовую и новую государственную пенсию, также увидят повышение на 10,1% в соответствии с Triple Lock.

Максимальный размер пособий также будет расти в соответствии с инфляцией, поскольку он увеличится с 20 000 до 22 020 фунтов стерлингов для семей по всей стране. Нижние пределы для одиноких домохозяйств без детей вырастут с 13 400 фунтов стерлингов до 14 753 фунтов стерлингов.

Новые ставки означают, что в среднем в этом году семья, получающая Universal Credit, получит около 600 фунтов стерлингов больше. DWP опубликовал полное онлайн-руководство по увеличению государственных пенсий, пособий и увеличению максимального размера пособий на веб-сайте GOV.UK.

Новые еженедельные ставки перечислены ниже, если не указано иное, и округлены в соответствии с политикой правительства Великобритании.

Attendance Allowance

• Higher rate: £101.75 (from £92.40)
• Lower rate: £68.10 (from £61.85)

Carer’s Allowance

• April 2023 rate: £76.75 (from £69.70)

Disability Living Allowance / Child Disability Payment

• Highest: £101.75 (from £92.40)
• Middle: £68.10 (from £61.85)
• Lowest: £26.90 (from £24.45)

Mobility component

• Higher: £71.00 (from £64.50)
• Lower: £26.90 (from £24.45)

Employment and Support Allowance (ESA)

• Under 25: £67.20 (from £61.05)
• 25 or over: £84.80 (from £77.00)

Incapacity Benefit (long-term)

• April 2023 rate: £130.20 (from £118.25)

Income Support

• Under 25: £67.20 (from £61.05)
• 25 or over: £84.80 from (£77.00)

Jobseeker’s Allowance (contributions based)

• Under 25: £67.20 (from £61.05)
• 25 or over: £84.80 (from £77.00)

Jobseeker’s Allowance (income-based)

• Under 25: £67.25 (from £61.05)
• 25 or over: £84.80 (from £77.00)

Maternity/Paternity/Shared Parental Allowance

• Standard rate: £172.48 (from £156.66)

Pension Credit

• Single: £201.05 (from £182.60)
• Couple: £306.85 (from £278.70)

Personal Independence Payment (PIP) / Adult Disability payment

Daily Living Component

• Enhanced: £101.75 (from £92.40)
• Standard: £68.10 (from £61.85)

Mobility Component

• Enhanced: £71.00 (from £64.50)
• Standard: £26.90 (from £24.45)

State Pension

• Full New State Pension: £203.85 (from £185.15)
• Basic Old State Pension (Category A or B): £156.20 (from £141.85)

Widow’s Pension

• Standard rate: £139.10 (from £126.35)

Universal Credit (Monthly rates shown)

Standard allowance

• Single under 25: £292.11 (from £265.31)
• Single 25 or over: £368.74 (from £334.91)

Couple

• Joint claimants both under 25: £458.51 (from £416.45)
• Joint claimants, one or both 25 or over: £578.82 (from £525.72)

Child Benefit payment rates for 2023/24

There are two Child Benefit rates in place.

Current rates per week

• Eldest or only child – £21.80
• Additional children – £14.45

New rates per week – from April 2023

• Eldest or only child – £24.00

Guardian’s Allowance rates from April 2023

The new weekly rate for Guardian’s Allowance will be £20.40 – an increase of £1.85 on the current 2022/23 rate of £18.55.

Additional children – £15.90

Self-Assessment Tax Return (SATR) Deadline Reminder

Dear Clients,

Under current rules, the annual allowance for tax relief on pensions this tax year is £40,000.

There is also a three year carry forward option for any unused reliefs in those past years, while the lifetime limit for tax relief on total pension contributions is currently £1,073,100 which is due to remain in force until at least April 2026.

You can potentially obtain tax relief on private pension contributions worth up to 100% of your annual earnings subject to the overriding limits quoted above.

Remember, tax relief is paid on pension contributions at the highest rate of Income Tax paid which means that: –

A basic rate taxpayer can save 20% tax

A higher rate taxpayer can save 40% tax

An additional rate taxpayer can save 45% tax

If you are an employee making pension contributions, the first 20% of tax relief is usually automatically applied by your employer with no further action required by you unless you are a higher rate or additional rate taxpayer in which case you can claim back the additional tax relief owed via your Self-Assessment Tax Return.

Self-Assessment Tax Return (SATR) Deadline Reminder

Anyone who is required to submit a SATR for tax year 2021-22 and has not yet done so, please note the deadline of the 31st January is getting closer. Please remember that payment of any tax due should also be made by this date which will include the balance of any payment due for tax year 2021-22 plus the first payment on account due for the current tax year 2022-23.

If you are filing online for the first time you should ensure that you register to use HMRC’s Self-Assessment online service as quickly as possible as it may take up to 10 working days for your activation code to arrive by post and with further potential strike action a possibility, there is no time to lose.

If you miss the filing deadline, you will usually be charged a £100 fixed penalty which applies even if there is no tax to pay or if the tax due is paid on time. Subsequent failure to have submitted a return and paid the tax due by the 1st May 2023 will result in additional penalties of £10 per day up to a maximum of £900, although additional penalties may also be charged if the return and payment due remain outstanding after this.

Last year, of the 12.5 million taxpayers required to complete a Self-Assessment return, more than 2.3 million missed the deadline!

Whether your business structure is a sole trader, partnership or limited company, today’s tax rules have never been more complex and you may find that delegating this potentially stressful and time-consuming task to a professional accountant will prove invaluable and actually save you both time and money, while allowing you to focus all your creative energy on what you do best, generating profits.

Happy New Year!

The majority of employees should receive the NI cut directly via their November payroll!

What is the National Insurance increase reversal?

On 6 April 2022, National Insurance Contributions (NICs) increased by 1.25%. The NICs increase was due to be replaced by the Health and Social Care Levy in April 2023.
The Chancellor of the Exchequer confirmed in September 2022 that the increase will be reversed from 6 November 2022. Additionally, the new Health and Social Care Levy will no longer be introduced in April 2023.
From 6 November 2022 the main and additional rates of Class 1 employee NICs will be reduced by 1.25 percentage points to 12% and 2%. Class 1 employer NICs will also be reduced by 1.25 percentage points to 13.8%.

How will your employees receive the cut?

Depending on your payroll processes, the majority of employees should receive the NI cut directly via their November payroll. Some employees may not benefit immediately from the in-year reduction in NICs rates if you’re unable to update payroll software before 6 November 2022. These employees should receive the benefit retrospectively once updates to the payroll have been applied.
The Government’s policy paper makes clear that the reversal to the National Insurance increase will only apply prospectively from 6 November 2022. However, in case the new reduced rates are not applied to employees’ pay from 6 November 2022 for any reason, UK Government guidance states that, “although individuals should contact their employer for refunds as a first port of call in all circumstances, there may be circumstances where individuals may need to apply to HMRC for a refund. For example, if their employer is no longer trading, or if an individual has moved roles and their previous employer has confirmed they are unable to issue a refund retrospectively themselves”.

Does this change the Employment Allowance?

No. The Employment Allowance, an FSB-designed measure to remove the first £5,000 off every small employer’s NICs bill, will be retained at the same level. This means that small businesses can employ four staff on the living wage without paying any employer NICs.

UNIVERSAL CREDIT AND PENSIONS KEY CHANGES

UNIVERSAL CREDIT AND PENSIONS KEY CHANGES after 17th of November 2022.
People claiming Universal Credit could see their payments rise by as much as £52 a month if expected plans are put in place next week.
Benefits, including Universal Credit, and pensions are expected to rise 10 per cent in line with inflation if Rishi Sunak bows to increasing pressure ahead of next week’s Autumn Statement. The previous prime minister, Liz Truss, said pensions would increase in line with inflation, but Rishi Sunak has not confirmed this. The Prime Minister has made it clear that the Government faces “difficult decisions” to fix the economic turmoil triggered by Liz Truss’s doomed spell in No10.

Don’t lose your Settled or Pre-settled status

If you have been granted Settled Status (also referred to as Indefinite Leave to Remain), you can spend up to five years in a row outside the UK without losing your status unless you are a Swiss citizen or the family member of a Swiss citizen.

Note that if you’re a Swiss citizen or the family member of a Swiss citizen, you can only spend up to four years in a row outside the UK without losing your Settled Status.

If you spend over this amount of time outside the UK without returning, your Settled Status will lapse. If this does occur and you wish to return to live in the UK, you will need to make a new application under a different route. Please note that the new application will need to meet the Immigration Rules in force at the time and therefore it is possible that some people may not be eligible to apply to return to live in the UK if their settled status lapses.

The Home Office can revoke your status if:

• You commit a serious criminal offence; or
• The Home Office believes that you submitted false information as part of your application.

Pre-Settled Status (also referred to as Limited Leave to Remain) is a temporary status that is valid for five years. If you want to stay in the UK for longer than this, you must apply for Settled Status within that five-year period.

It is possible to spend up to 2 years outside the UK without losing your Pre-Settled Status. However, if, for example, you spend a continuous year and a half out of the UK, though you will retain your Pre-Settled Status, it is unlikely that you will qualify for Settled Status. This is because you will not be able to demonstrate the required ‘continuous residence’ in the UK for at least five years. At present, there is no provision to extend a grant of Pre-Settled Status and so if you are unable to qualify for Settled Status before the expiry of your ‘Pre-Settled Status’, you may have to apply to remain in the UK on another basis.

If you spend more than two years outside the UK, your Pre-Settled Status will lapse. Your pre-settled status can be revoked if you commit a serious criminal offence, or the Home Office believes you submitted false information with your application.

VAT reverse charge for construction services’

The VAT domestic reverse charge for construction services starts on 1 March 2021.

It’sa major change to the way VAT is collected in the construction industry.

The reverse charge will affect you if both:

• you’re registered for VAT
• you supply or receive services under the Construction Industry Scheme (usually known as CIS)

Where the reverse charge applies, the customer pays the VAT due directly to HMRC instead of paying it to their supplier.

When you must use the VAT reverse charge for building and construction services

–You must use the reverse charge for the following services:

• constructing, altering, repairing, extending, demolishing or dismantling buildings or structures (whether permanent or not), including offshore installation services
• constructing, altering, repairing, extending, demolishing of any works forming, or planned to form, part of the land, including (in particular) walls, roadworks, power lines, electronic communications equipment, aircraft runways, railways, inland waterways, docks and harbours, pipelines, reservoirs, water mains, wells, sewers, industrial plant and installations for purposes of land drainage, coast protection or defence
• installing heating, lighting, air-conditioning, ventilation, power supply, drainage, sanitation, water supply or fire protection systems in any building or structure
• internal cleaning of buildings and structures, so far as carried out in the course of their construction, alteration, repair, extension or restoration
• painting or decorating the inside or the external surfaces of any building or structure
• services which form an integral part of, or are part of the preparation or completion of the services described above – including site clearance, earth-moving, excavation, tunnelling and boring, laying of foundations, erection of scaffolding, site restoration, landscaping and the provision of roadways and other access works

When you not use the reverse charge

Do not use the charge for the following services, when supplied on their own:

• drilling for, or extracting, oil or natural gas
• extracting minerals (using underground or surface working) and tunnelling, boring, or construction of underground works, for this purpose
• manufacturing building or engineering components or equipment, materials, plant or machinery, or delivering any of these to site
• manufacturing components for heating, lighting, air-conditioning, ventilation, power supply, drainage, sanitation, water supply or fire protection systems, or delivering any of these to site
• the professional work of architects or surveyors, or of building, engineering, interior or exterior decoration and landscape consultants
• making, installing and repairing art works such as sculptures, murals and other items that are purely artistic signwriting and erecting, installing and repairing signboards and advertisements
• installing seating, blinds and shutters
• installing security systems, including burglar alarms, closed circuit television and public address systems
• Working with private clients

Zero rate VAT

You may not have to charge VAT on some types of work if it meets certain conditions, including:

Building new homes

You may not have to charge VAT on labour or building materials for work you do on a new house or flat.

• building a new house or flat
• work for disabled peoplein their home

·         End users

• For reverse charge purposes consumers and final customers are called end users. They’re businesses, or groups of businesses, that are VAT and Construction Industry Scheme registered but do not make onward supplies of the building and construction services supplied to them.
• The reverse charge does not apply to supplies to end users where the end user tells their supplier or building contractor in writing that they’re an end user.

 Invoices and other VAT documents

Invoices

When supplying a service subject to the domestic reverse charge, suppliers must:

• show all the information required on a VAT invoice
• make a note on the invoice to make it clear that the domestic reverse charge applies and that the customer is required to account for the VAT
• clearly state how much VAT is due under the reverse charge, or the rate of VAT if the VAT amount cannot be shown, but the VAT should not be included in the amount charged to the customer

Please see vat invoice example attached

If you have any questions in regards vat reversal charge, please contact us.