Latest News

Making a disclosure to HMRC

24/05/2017
HMRC has updated their online guidance for individuals and companies who have a disclosure to make that isn’t covered by a current HMRC campaign or the Worldwide Disclosure Facility. The guidance is relevant for disclosures relating to income tax, capital gains tax, national insurance contributions and corporation tax. Notifications can
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Renewing tax credit claims

24/05/2017
Families and individuals that receive tax credits should ensure that they renew their tax credit claims by 31 July 2017. Claimants who do not renew on-time may have their payments stopped. HMRC has started sending tax credits renewal packs to tax credit claimants and is encouraging recipients to renew their tax credits claim online. All
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Reminder to claim the marriage allowance

24/05/2017
The marriage allowance came into force on 6 April 2015 and allows lower earning couples to share part of their personal tax-free allowance. The marriage allowance is available to married couples and those in a civil partnership where a spouse or civil partner doesn’t pay tax or doesn’t pay tax above the basic rate threshold for income
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Lloyds bailout completed

24/05/2017
The government has announced that all of the government’s shares in Lloyds acquired during the financial crisis have now been sold. The sale of the final tranche of shares in the Lloyds Banking Group brings the amount recovered through sales and dividends to £21.2 billion. This means that taxpayers have received back almost £900 million
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Using your own car for work

24/05/2017
Under certain circumstances, an employee can be paid a tax-free allowance by their employers when using their own car, van, motorcycle or bike for work purposes. It is important to note that this tax-free allowance does not include journeys to and from work but is relevant to employees who use their own vehicles in the course of their
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Tax Diary June/July 2017

21/05/2017
1 June 2017 - Due date for Corporation Tax due for the year ended 31 August 2016. 19 June 2017 - PAYE and NIC deductions due for month ended 5 June 2017. (If you pay your tax electronically the due date is 22 June 2017.) 19 June 2017 - Filing deadline for the CIS300 monthly return for the month ended 5 June 2017. 19 June 2017 - CIS
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Employer deadline for providing P60s

17/05/2017
The deadline for employers to provide employees with a copy of their P60 form is 31 May 2017. A P60 must be given to all employees that were on the payroll on the last day of the 2016-17 tax year (5 April 2017). The P60 is a statement issued to employees after the end of each tax year that shows the amount of tax they have paid on their
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G7 Finance Ministers meeting

17/05/2017
The G7 is a forum of seven of the largest economies in the world. Italy currently presides over the group which comprises the UK, US, Germany, France, Italy, Canada and Japan. China, Brazil and India are not included. The group has in the past been known as the G8 but Russia was ejected from the group in 2014 following the Russian
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Advance Assurance for R&D

17/05/2017
Advance Assurance for Research and Development (R&D) tax relief claims is available to small companies making their first R&D claim. To be eligible, the companies must also have an annual turnover of less than £2million and less than 50 employees. There is no requirement to apply for Advance Assurance but by doing so applicants
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Agent authorisation form

17/05/2017
The 64-8 form is the most commonly used form to authorise an agent, accountant or tax adviser to deal with HMRC on someone’s behalf. There are separate forms to authorise an agent to use the PAYE for Agents online service and for some High Income Child Benefit Charge matters. The 64-8 form covers authorisation for: Individual,
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About Us

We are qualified and experienced medic accountants and business advisors who have been in general practice for over 20 years having helped medic & dentist clients in meeting their aims of maximizing profits and both retaining and building on the rewards of their hard work.

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Medic Accountants
Cromer Business & Innovation Centre
North London Business Park
Oakleigh Road South
London N11 1GN
Ph: + 44 (0) 207 183 0034
Fx: + 44 (0) 207 100 1082
Registered in Companies House England & Wales
Medic Accountants (UK) LLP
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