TaxCalc Blog
News and events from TaxCalc
Anti-money laundering sneaks itself on hectic January tax season
For a lot of accountants, January is not the best time to think of anything else other than tax. As you tuck in to SA return after SA return you may or may not have noticed that following a consultation back in June 2019 the money laundering and terrorist financing (amendment) regulations 2019 (MLRs) came into force on 10 January 2020, updating existing regulations.
Here is a brief summary of some of the key changes within the 2019 regulations.
Read moreNovember news
Upcoming legislation: Ultra Low Emission Vehicles
From 6 April 2020 the car and car fuel benefit calculation is changing with the introduction of 11 new bands for ultra low emission vehicles (ULEVs) including a separate zero emissions band. This is to support the Government’s commitment to improving air quality in towns and cities. If your client’s company car has a CO2 emission figure of 1-50g/km, they will need to provide the cars zero emission mileage. This is the distance that the car can travel in miles on a single electric charge.
Read moreIn practice: TaxCalc Document Manager powered by SmartVault
In our connected world, people now expect to work and interact remotely – even when it comes to sharing important documentation. For firms preparing sets of accounts and filing tax returns, the traditional method of sending and receiving hard copy documentation is becoming less attractive: the process takes longer, costs more and takes up valuable storage space. Clients are also simply too busy and are accustomed to viewing documents on-screen and printing only when necessary.
Read moreOctober news: New products, advice, MTD and more
What with all that’s going on in the world, it’s easy to get overloaded with information. So we’ve brought you the most relevant news and updates relating to your life in practice. Here’s our October roundup of some of the latest changes in legislation, plus pertinent product news and advice.
Read moreTracy shortlisted in LDC and The Telegraph's Top 50 Most Ambitious Business Leaders
Our ambition, commitment to innovation and care for customers has made us the fastest-growing company in our sector and recently resulted in our CEO Tracy being shortlisted in the LDC/Telegraph 50 Business Leaders Awards.
Read moreTax Tip: No Benefit in Kind required for electric company cars
Treasury has confirmed that company car drivers who choose an emissions-free electric fleet model will pay no benefit-in-kind (BIK) tax for the year
Great news for employees. The Treasury has confirmed that company car drivers who choose an emissions-free electric fleet model will pay no benefit-in-kind (BIK) tax for the year as part of new efforts to encourage motorists to switch to green vehicles.
MTD for VAT is here, how are you faring?
Following the introduction of MTD for VAT and the first quarterly submission deadline having just passed on the 7th August, we’ve taken a look through 4 of the common errors encountered with the HMRC MTD portal.
Like most processes any big changes can lead to a question of ‘We can’t know what we don’t know’, if you encounter an error for the first time.
Read moreFine. Or fine?
Fine. or fine?
HMRC has issued fines for non-compliance to AML regulations. Don’t make the same mistake.
With HMRC issuing fines to certain accountants for failing to have proper anti-money laundering (AML) procedures in place AML is an issue that can’t be ignored.
Read more