Magee Gammon Partnership LLP (M112)_BM August18 # (002)

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This newsletter is for guidance only, and professional advice should be obtained before acting on any information contained herein. Neither the publishers nor the
distributors can accept any responsibility for loss occasioned to any person as a result of action taken or refrained from in consequence of the contents of this publication.
Reminders for your diary
September 2018
1 New Advisory Fuel Rates
(AFR) for company car
users apply from today.
19 PAYE, Student loan
and CIS deductions are
due for the month to
5 September 2018.
30 End of CT61
quarterly period.
October 2018
1 Due date for payment of
Corporation Tax for period
ended 31 December 2017.
5 Deadline for notifying
HMRC of new sources of
taxable income or gains or
liability to the High Income
Child Benefit Charge for
2017/18 if no tax return has
been issued.
14 Due date for income tax
for the CT61 quarter to
30 September 2018.
19 Tax and NICs due
under a 2017/18 PAYE
Settlement Agreement.
PAYE, Student loan and CIS
deductions are due for the
month to 5 October 2018.
PAYE quarterly payments
are due for small
employers for the pay
periods 6 July 2018 to
5 October 2018.
31 Deadline for submitting
‘paper’ 2017/18 self
assessment returns.
November 2018
2 Deadline for submitting
P46(Car) for employees
whose car/fuel benefits
changed during the quarter
to 5 October 2018.
19 PAYE, Student loan
and CIS deductions are
due for the month to
5 November 2018.
Web Watch
Essential sites for business
owners.
Online gateway for small and
medium-sized businesses looking
for mentoring services.
Advice and guidance for
entrepreneurs across the globe.
Government site dedicated to
assisting UK businesses with
trading overseas.
Business Round-up
Business group warns UK small firms
'unprepared for business interruption'
The Federation of Small Businesses (FSB) has warned that the
majority of UK small firms are ‘unprepared’ for the risk of disruption
to the business posed by both internal and external threats.
Data published by the FSB revealed that 65% of small businesses
do not currently have any plans in place to deal with an interruption
to the firm or its supply chains. Some of the most common risks to
businesses include: customers who fail to pay for goods or services;
the loss of key members of staff; cybercrime and its associated
threats; and severe weather and transport issues.
The FSB has urged larger businesses to assist smaller firms with
forward planning. It has also called on local governments and
authorities to emphasise the need for small businesses to put
continuity plans into place.
Mike Cherry, National Chairman of the FSB, has called on small
business owners to establish clear strategies in advance to help
them to deal with potential threats.
Commenting on the issue, Mr Cherry said: ‘By implementing
continuity plans, small firms can prepare for many of the sudden
changes that can impact on them directly and their supply chains.
‘Given the likelihood that an enterprise will encounter some sort of
business interruption issue more than once in their life, it is key to
resilience that firms are encouraged to consider all risks that they
could face.’
Business urges government to reform
Apprenticeship Levy
In response to the publication of official apprenticeship statistics,
business groups have urged the government to reform the
Apprenticeship Levy.
The organisations, including the Confederation of British Industry
(CBI), the Institute of Directors (IoD) and the Federation of Small
Businesses (FSB) have called on the government to reform the
initiative before it costs UK firms ‘millions’.
The Levy was introduced in April 2017, and is paid by employers
with a pay bill of more than £3 million per year. It stands at
0.5% of the pay bill, although an annual allowance of £15,000
also exists.
Apprenticeship Levy funds must be used before April 2019 – at
this time, they will begin to expire.
Employers who do not plan to use all of the funds in their
apprenticeship service account can now make a transfer to
another employer, with the aim of allowing larger
employers to support other employers.
The CBI has urged the government to introduce
‘greater flexibility’ to the system, and for
ministers to ‘loosen the rules around how
Levy cash is spent’. Meanwhile, the IoD has
suggested that businesses should be given
longer to spend the money to ‘ensure that it is
spent on the most valuable apprenticeships’.