- By Buckinghamshire Business First
- 23 March, 2017
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As of April, businesses have certain obligations to meet and new legislation to be aware of, including on payrolling, the minimum wage and alcohol & tobacco sales.
HMRC webinars on 2017/18 changes
These two HMRC webinars will provide an overview of new and changed processes for the 2017/18 tax year. You will have the opportunity to ask questions during the webinars:
Payrolling: benefits in kind
A statutory framework allows you to deduct the tax due on benefits and expenses through your payroll process.
Employers can only register for payrolling for full tax years and must complete the registration process on or before April 5th of the year prior to payrolling.
Join this webinar to find out more details, and how you register with HMRC. You will have the opportunity to ask questions during the webinar.
Register on or by April 5th 2017 for the 2017-18 tax year using HMRC’s payrolling benefits and expenses online service.
Payroll: annual reporting and tasks
This webinar is for employers and covers end-of-year tasks, the P60 form, a brief look at reporting expenses and benefits, sending the last Full Payment Submission (FPS) to HMRC, preparing for the new tax year, and actions for Basic PAYE Tools users.
There are also YouTube videos on 'How to send your Final PAYE Submission' and 'How to issue P60s'.
Use the e-learning guidance employer package at your own pace and return to it anytime by saving the link.
Do you provide services to a public sector client through your own Limited company?
In the Autumn Statement the Chancellor confirmed the reforms to off-payroll working in the public sector will go ahead and will be implemented from April 2017.
Learn more about these reforms >
National Minimum Wage
As of April 2017, the National Minimum Wage rises to £7.50 per hour for those 25 years old and above, to £7.05 for 21-24 year olds, to £5.60 for 18-20 year olds, to £4.05 for under 18s, and £3.50 for apprentices.
HMRC provides e-learning guidance on the National Minimum Wage here >
You can read more about National Living Wage here >
Alcohol Wholesaler Registration Scheme
Do you produce or sell alcohol wholesale?
If you sell alcohol to another business you may need to apply to register for the Alcohol Wholesaler Registration Scheme (AWRS). If you are planning to start a business doing this, you must apply at least 45 days before your business starts. There are penalties if you trade without approval.
Find out if you need to register with AWRS and how to do so >
Do you buy alcohol to sell to others?
From April 1st 2017, if you buy alcohol from UK suppliers to sell to others, you must check that your supplier has been approved. Ask your supplier to tell you their AWRS Unique Reference Number (URN); they will also show the URN on their invoices.
From April 1st 2017 it will be an offence for you to buy alcohol from an unapproved supplier. You could be liable for a penalty and have your alcohol stock seized.
HMRC will provide an online service of approved wholesalers from April 1st 2017. From then, you should check that your supplier is approved. You should carry out this check, alongside any other checks, as often as you need to ensure you are making alcohol purchases from an approved wholesaler - not just the first time you make a purchase. You will need to keep records to prove you have checked that your supplier is approved.
You can find more information on the GOV.UK website >
Raw Tobacco Approval Scheme - new scheme introduced April 1st 2017
All businesses and individuals who intend to be involved in raw tobacco activity will need to have an approval for the Raw Tobacco Approval Scheme by April 1st 2017, unless an exemption applies, or be at risk of having their raw tobacco seized and a penalty issued. Apply for approval here >
Changes to tax relief for residential landlords
The tax relief that landlords of residential properties get for finance costs will be restricted to the basic rate of Income Tax. This will be phased in from April 2017.
Check out our business support pages for more information
The Buckinghamshire Business First business support pages feature a raft of articles on all manner of business topics, including tax, legislation, health and safety, funding, training and more.
