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Interest Rate rise impacts HMRC late payment charges

17th August 2018 | Written by In Accountancy | Categories : HMRC, Limited Companies, News
Interest Rate rise impacts HMRC late payment charges

The Bank of England raised interest rate to its highest level since March 2009 The Bank of England has raised the interest rate from 0.5% to 0.75% last week. The quarter of a percentage point rise sets the rate at its highest level since March 2009. The rise in the interest rate will no doubt increase the interest costs of Read the full article…


Payments on Account – what are they all about?

24th July 2018 | Written by In Accountancy | Categories : Business, HMRC, News, Personal Tax
Payments on Account – what are they all about?

For those of you new to paying tax via self assessment you may or may not be aware of the term ‘payments on account’ Payments on account simply means that once your income tax liability for any one year is greater than £1000, HMRC determine that in addition to paying the liability for the year for which you are accounting, Read the full article…


Enterprise Management Incentive continues

20th July 2018 | Written by In Accountancy | Categories : HMRC, News
Enterprise Management Incentive continues

Enterprise Management Incentive scheme State Aid approval lapsed on 6 April 2018 It has previously been reported that the Enterprise Management Incentive scheme State Aid approval lapsed on 6 April 2018. HMRC had previously warned that EMI share options granted in the period from 7 April 2018 until EU State Aid approval was received may not be eligible for the Read the full article…


VAT Reverse Charge for Construction Services Consultation

20th July 2018 | Written by In Accountancy | Categories : HMRC, News
VAT Reverse Charge for Construction Services Consultation

HMRC introduce new VAT rules for construction services HMRC proposes to introduce new VAT rules for construction services which are subject to consultation. HMRC has published a draft statutory instrument for technical consultation together with a draft explanatory memorandum and a draft tax information and impact note. Under the draft legislation supplies of standard or reduced-rated construction services between construction or building Read the full article…


HMRC Saves Public £2.4M by Stopping Fraudsters

11th July 2018 | Written by In Accountancy | Categories : HMRC, News
HMRC Saves Public £2.4M by Stopping Fraudsters

HMRC are putting a stop to fraudsters and have saved the public over £2.4 million so far. HMRC has announced that it has saved the public over £2.4m by tackling fraudsters that trick them into using premium rate phone numbers for services that HMRC provide for free. HMRC has reported that scammers create websites that look similar to HMRC’s official Read the full article…


200,000 Receive Back Pay as HMRC Enforce National Minimum Wage

21st June 2018 | Written by In Accountancy | Categories : HMRC, News
200,000 Receive Back Pay as HMRC Enforce National Minimum Wage

Underpaid workers are urged to complain about National Minimum Wage and National Living Wage underpayments. BEIS and HMRC are urging underpaid workers to complain about National Minimum Wage (NMW) and National Living Wage (NLW) underpayments. Recent figures show that the number of workers receiving the money they are owed has doubled. During 2017/18, HMRC investigators identified £15.6 million in pay Read the full article…


Tax Refund Scams Warning from HMRC

20th June 2018 | Written by In Accountancy | Categories : HMRC, News
Tax Refund Scams Warning from HMRC

HMRC issue warning regarding tax refund scams HMRC has issued a warning to taxpayers regarding the latest tax refund scams. These scams are targeting individuals via email and SMS messages. HMRC is currently processing genuine tax refunds for the 2017/18 tax year and the fraudsters are sending scam messages which claim that taxpayers are entitled to a rebate. These messages Read the full article…


HMRC Phishing and Scam Advice

8th November 2017 | Written by In Accountancy | Categories : HMRC, News

Phishing and Scam Advice There has been times when many of us would have received something from supposedly sent by HMRC. But how can we tell what is genuine or not? Here’s their latest phishing and scam advice. HMRC have updated their list of examples of websites, emails, letters, text messages and phone calls used by scammers and fraudsters to obtain individual’s personal Read the full article…