On Friday 6th September the Government announced that they are delaying the introduction of the domestic reverse charge for construction industry businesses by one year.
The new rules had been due to take effect at the beginning of next month, but it has now been confirmed as delayed until 1 October 2020.
The official announcement can be seen on the Gov Website. The change has been made following representations from construction industry bodies who felt that many businesses would not be able to make the changes in time, and also to avoid further complications arising from Brexit happening around the same time.
The government has confirmed that they will take a light touch with any errors arising for businesses that have already made changes to their systems to take effect from October 2019 who then encounter problems switching them back. Other traders who anticipated getting regular repayments and have opted to switch to monthly VAT returns can use the HMRC online account to change this back to quarterly stagger dates.
In order to try and ensure that businesses are ready to trade post-Brexit, HMRC is automatically enrolling them in the customs system.
HMRC has confirmed that it will continue its risk-based approach to payroll Real Time Information (RTI) late filing and late payment penalties this tax year.
Rather than late filing and late payment penalties being issued automatically, HMRC will continue to issue them on a risk-assessed basis during 2019/20. HMRC has also confirmed that penalties for 2019/20 will be issued from September 2019.
Two self assessment deadlines are approaching:
Internet link: HMRC deadlines
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on:
HMRC have published the updated rates for mileage claims on company cars that take effect from 1 September 2019.
You can use the previous rates for up to one month from the date the new rates apply. The advisory fuel rates per mile for journeys undertaken on or after 1 September 2019 are: