17th December 2021 – Hillmans Weekly Update

Below I have summarised all the main tax related updates we have seen this week.

• Construction firms asked to take a Safety Reboot in 2022
• Help to Grow: Digital scheme
• HMRC customers with Post Office card accounts given extra time to switch accounts
• Christmas Gifts of up to £50 per Employee is Tax Free

If you have any queries about this week’s content, or if you need any assistance please do not hesitate to contact me.

I hope you have a great weekend.

Stay safe and well.

Cheers,

Steve

Steven Hillman BSc (Hons) ACA
Chartered Accountant
Tel: 01934 444100

Construction firms asked to take a Safety Reboot in 2022

The Construction Employer's Federation (CEF) health and safety initiative Safety Reboot returns for a second year in January 2022. The month-long program aims to encourage construction companies to stop work for about 15 minutes, once a week throughout January, to take time to focus on key areas of health and safety.

Resources on eight topics, developed by the CEF Health and Safety committee last year, are available as they cover key areas of construction health and safety. Question packs and discussion aids on three new topics for 2022 - asbestos, respirable crystalline silica and underground services - have also been developed to increase the scope of the initiative.

The resources should be used to start conversation and interaction between the workforce on issues that they encounter every day on site.

See: Safety Reboot 2022 Resources (https://www.cefni.co.uk/news/safety-reboot-2022-resources)

Help to Grow: Digital scheme

Help to Grow: Digital is a new UK-wide scheme to help small and medium size businesses (SMEs) adopt digital technologies that are proven to increase productivity.

From December 2021, the scheme will offer SMEs free and impartial advice on how technology can help their business. A new online platform will be set up to help them to:

• identify their digital technology needs
• assess technology purchasing options
• implement new technologies in their operations

Eligible businesses will also be able claim a voucher covering up to 50 per cent of the costs of approved digital software, up to a maximum of £5,000.

These vouchers are expected to be available for software that helps businesses:

• build customer relationships and increase sales
• make the most of selling online
• manage their accounts and finances digitally

The voucher will be available to UK businesses that:

• are registered at Companies House
• employ between 5 and 249 employees
• have been trading for more than 12 months
• are purchasing the approved software for the first time

See: Help to Grow – Take your business to the next level (https://helptogrow.campaign.gov.uk/)

HMRC customers with Post Office card accounts given extra time to switch accounts

Customers who currently receive HMRC benefit payments into a Post Office card account will be given extra time to switch their account, HM Revenue and Customs (HMRC) has confirmed.

HMRC recognises the vital financial support tax credits, Child Benefit and Guardian’s Allowance can provide to individuals and families; and wants to give them every opportunity possible to receive the benefits to which they are entitled.

The department has arranged a one-off extension to the contract with the Post Office allowing customers until 5 April 2022 to provide alternative account details to HMRC.

This means that the 13,000 customers, who are still to notify HMRC, will temporarily be able to continue to receive their payments into their Post Office account, giving them extra time to set up new accounts and notify the department.

HMRC is still encouraging those benefitting from the extension to switch their account at the earliest opportunity.

See: HMRC customers with Post Office card accounts given extra time to switch accounts - GOV.UK (https://www.gov.uk/government/news/hmrc-customers-with-post-office-card-accounts-given-extra-time-to-switch-accounts)

Christmas Gifts of up to £50 per Employee is Tax Free

Certain gifts to staff at Christmas are tax free if structured correctly.

Employers are allowed to provide their directors and employees with certain “trivial” benefits in kind tax free.

This exemption applies to small gifts worth no more than £50 to staff at Christmas, on their birthday, or other occasions and includes gifts of food, wine, or store vouchers.

December 2021 COVID Update

December 2021 COVID Update:In view of the latest Government COVID guidelines, our staff that are able to work from home will do so with effect from Monday 13th December 2021. 

However, our Worle office remains open with a skeleton staff, and all staff can be contacted on the normal number (01934 444100). 

Our reception is open for deliveries of post, books and records.

In view of the current uncertainty regarding the Omicron COVID variant, we will be offering meetings via telephone call or Zoom video call in place of in-person meetings until the Government guidance is updated. 

10th December 2021 – Hillmans Weekly Update

Below I have summarised all the main tax related updates we have seen this week.

• Less than a month until full customs controls are introduced
• Christmas Party
• Gifts To Charity
• Regular Gifts Out Of Your Income Is Tax Efficient

If you have any queries about this week’s content, or if you need any assistance please do not hesitate to contact me.

I hope you have a great weekend.

Stay safe and well.

Cheers,

Steve

Steven Hillman BSc (Hons) ACA
Chartered Accountant
Tel: 01934 444100