30
May

Children’s savings and tax

All children in the UK have their own personal annual allowance. However, anti-avoidance laws prevent this allowance being utilised by parents of children aged under 18 with some minimal exceptions. If older children are employed by a parent, then they can receive income paid as wages subject to the usual rules.

There are special rules if a parent gifts significant amounts of money to their children which results in them receiving bank interest of more than

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29
May

GDPR and Data Protection Act 2018 now in force

The EU General Data Protection Regulation (GDPR) came into force on 25 May 2018, along with most of the provisions in a new Data Protection Act 2018 (including those provisions relevant to processing in the employment relationship). The previous Data Protection Act 1998 has now been repealed. The new data protection laws give people more control about how their personal data is used, shared and stored and they require organisations to be more accountable and transparent about how they use such data.

As well as producing a wide range of new and updated guidance for organisations to assist them with their GDPR compliance, which is all available on its website, the Information Commissioner’s Office (ICO) has launched a long-term campaign, “Your Data Matters”, to help people understand why their personal data matters and how they can take back control.

The ICO’s resources for organisations include:

  • Guide to the GDPR
  • More detailed guidance on specific GDPR areas, covering: determining what is personal data; the right to be informed; legitimate interests; consent; documentation; automated decision-making and profiling; data protection impact assessments (DPIAs); and children and the GDPR
  • Data protection self-assessment toolkit
  • GDPR FAQs
  • GDPR myth-busting blogs
  • Lawful basis interactive guidance tool
  • Personal data breach reporting resources
  • Guide to the data protection fee (see below).

The Data Protection (Charges and Information) Regulations 2018 also came into force on 25 May 2018 and they have introduced a new data protection charging structure for data controllers. There is no longer a requirement to pay the ICO a notification fee. Instead, there are three tiers of charges which apply unless all processing undertaken by the data controller is exempt. For very small organisations with no more than ten members of staff or which have a maximum turnover of

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23
May

New advisory fuel rates published

Advisory fuel rates are intended to reflect actual average fuel costs and are updated quarterly. The rates can be used by employers who reimburse employees for business travel in their company cars or where employees are required to repay the cost of fuel used for private travel.

HMRC accepts there is no taxable profit and no Class 1A National Insurance on reimbursed travel expenses where employers pay a rate per mile for business travel no higher than the published advisory fuel rates.

Employees can also use the advisory fuel rates to repay the cost of fuel used for private travel. In this case, HMRC will accept there’s no fuel benefit charge. The advisory rates are not binding if you the employer can demonstrate that employees cover the full cost of private fuel by repaying at a lower rate per mile.

The latest advisory fuel rates become effective on 1 June 2018. Fuel rates are reviewed four times a year with changes taking effect on 1 March, 1 June, 1 September and 1 December. You can use the previous rates for up to 1 month from the date the new rates apply.

The rates are as follows:

Engine size Petrol – amount per mile      LPG – amount per mile
1400cc or less  11p 7p
1401cc to 2000cc  14p 9p
Over 2000cc  22p 14p

      

Engine size  Diesel – amount per mile
1600cc or smaller  10p
1601cc to 2000cc  11p
Over 2000cc  13p

Hybrid cars are treated as either petrol or diesel cars for this purpose.

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