HMRC Archives | IN-Accountancy
Inaccountancy

HMRC

New Guidance for Employers

23rd November 2018 | Written by In Accountancy | Categories : Business, HMRC, HMRC, Pensions and Payroll
New Guidance for Employers

HMRC has issued the October 2018 Employer Bulletin which contains a number of articles relevant to employers on payroll related issues. The articles cover a number of areas including: clarification of the rules regarding paying employees when the regular payday is a non-banking day dealing with PAYE Settlement Agreements and new procedures to accommodate Scottish income tax rates Construction Industry Read the full article…


Autumn Budget 2018 for Contractors – IR35 explained

5th November 2018 | Written by In Accountancy | Categories : Budget, Business, Contractors, HMRC, HMRC, Limited Companies, News, Pensions and Payroll, Pensions and Payroll, Personal Tax, Tax
Autumn Budget 2018 for Contractors – IR35 explained

The Autumn Budget 2018 announced that changes to off payroll working in the private sector would not be introduced before 2019/20 tax year, and even then would only apply to large and medium sized businesses. We have had questions from a number of our contractor clients who are concerned about what any changes in relation to IR35 legislation may mean Read the full article…


Contractors Almost £1,000 better off in the 2018 Budget

5th November 2018 | Written by In Accountancy | Categories : Budget, Business, Contractors, HMRC, HMRC, Limited Companies, News, Personal Tax, Tax
Contractors Almost £1,000 better off in the 2018 Budget

The changes introduced in the 2018 Autumn Budget mean that many contractors could be almost £1,000 better off under the new tax rules. We have had many queries from our contractor client about what the Autumn 2018 Budget really means for them. So, we thought it might be useful to take a moment to highlight the areas which we think will impact Read the full article…


Deliberate Tax Defaulters – HMRC publishes updated list

15th October 2018 | Written by In Accountancy | Categories : Business, HMRC, HMRC, Personal Tax, Tax
Deliberate Tax Defaulters – HMRC publishes updated list

HMRC has published an updated list of deliberate tax defaulters. The list of deliberate tax defaulters includes details of taxpayers who have incurred a penalty because they have either: deliberately provided one or more inaccurate documents to HMRC deliberately failed to comply with an HMRC obligation committed a VAT or excise wrongdoing. HMRC’s criteria for publishing this information also states Read the full article…


Recognising phishing emails and texts from HMRC

10th October 2018 | Written by In Accountancy | Categories : HMRC, HMRC, News
Recognising phishing emails and texts from HMRC

We are experiencing an increasing and worrying number of clients who have been subject to HMRC phishing emails and other scams. Luckily when they have checked with us we have been able to advise them whether or not the contact appears to be genuine, or whether we think it is a bogus or phishing email and what to do next. Read the full article…


HMRC Identify £15.6m Minimum Wage Underpayments

9th October 2018 | Written by In Accountancy | Categories : Business, HMRC, HMRC, News, Pensions and Payroll
HMRC Identify £15.6m Minimum Wage Underpayments

HMRC has announced that they achieved record enforcement results this year, identifying £15.6million of minimum wage underpayments. The number of workers identified as underpaid was double that in 2016/17 and the highest number since the National Minimum Wage came into force. The figures reveal: a record £15.6 million of underpayment identified for more than 200,000 workers employers fined £14 million Read the full article…


Paper Self Assessment Tax Return deadline approaching

8th October 2018 | Written by In Accountancy | Categories : HMRC, HMRC, Personal Tax
Paper Self Assessment Tax Return deadline approaching

For those individuals who have previously submitted paper self assessment tax returns the deadline for the 2017/18 return is 31 October 2018. Paper self assessment returns submitted after that date must be submitted electronically or they will incur a minimum penalty of £100. The penalty for late submission applies even when there is no tax to pay or the tax Read the full article…


Software Suppliers – Making Tax Digital for VAT

28th September 2018 | Written by In Accountancy | Categories : Business, HMRC, Limited Companies, Making Tax Digital, News
Software Suppliers – Making Tax Digital for VAT

HMRC is working with more than 150 software suppliers who have said they will provide software for Making Tax Digital for VAT (MTDfV) in time for April 2019. From 1 April 2019, businesses will be mandated to use the MTDfB system to meet their VAT obligations under MTDfV. Only businesses with a taxable turnover above the VAT threshold (currently £85,000) Read the full article…


Making Tax Digital – What do you need to do?

24th September 2018 | Written by In Accountancy | Categories : Business, HMRC, Limited Companies, Making Tax Digital
Making Tax Digital – What do you need to do?

Making Tax Digital comes into play from April 2019, and it would appear that many businesses, and HMRC themselves are very unprepared. From April 2019, those companies for whom Making Tax Digital (MTD) applies, no longer be able to file paper VAT returns, nor will they be able to calculate their VAT position manually and simply enter the ‘Box’ figures via HMRC’s Read the full article…


Requirement to Correct – 30 September Deadline Fast Approaching

21st September 2018 | Written by In Accountancy | Categories : Business, HMRC, HMRC, Personal Tax
Requirement to Correct – 30 September Deadline Fast Approaching

If you have received taxable overseas income, in any form, be sure not to miss the fast approaching Requirement to Correct deadline of 30 September 2018 In recent months, many taxpayers – and agents acting for private clients – will have received letters from HMRC about overseas income and the ‘requirement to correct’ (RTC). We very recently published a post on Read the full article…