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HMRC

Working Parents May Be Eligible For Tax-Free Childcare This Summer

23rd August 2019 | Written by In Accountancy | Categories : Business, CASH, Client Focus, HMRC, HMRC, Miscellaneous, Self-Employed, Small Business Tips, Tax
Working Parents May Be Eligible For Tax-Free Childcare This Summer

The government is reminding working parents that they could ease this summer’s childcare costs by using Tax-Free Childcare (TFC). The scheme is worth up to £2,000 a year for each child and allows parents to save regularly for childcare costs.
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IR35: What’s next for Personal Service Companies?

20th August 2019 | Written by In Accountancy | Categories : Accounts, Contractors, HMRC, IR35, News, Tax
IR35: What’s next for Personal Service Companies?

If you’re an individual contractor trading through your own Limited or Personal Service Company (PSC) you will be aware of IR35 Legislation which has been in place since April 2000. Since this date it has been the contractor’s responsibility to
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Employer Bulletin – Latest Guidance

31st July 2019 | Written by In Accountancy | Categories : Accounts, Business, CASH, GDPR, HMRC, HMRC, News, VAT
Employer Bulletin – Latest Guidance

HMRC has issued the June 2019 edition of the Employer Bulletin. This includes articles on a number of issues including: labour supply chain fraud using loans to avoid Optional Remuneration Rules re-enrolment of staff back into a workplace pension scheme
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Consultation on the Operation of Insurance Premium Tax

26th July 2019 | Written by In Accountancy | Categories : Accounts, Budget, Business, CASH, HMRC, HMRC, News, Tax
Consultation on the Operation of Insurance Premium Tax

HMRC has launched a consultation to review the extent to which the emerging practices are leading to ‘unfair tax outcomes’ in the administration and collection of Insurance Premium Tax (IPT). HMRC’s consultation document states: ‘We have been made aware of
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Payment On Account Confusion

23rd July 2019 | Written by In Accountancy | Categories : Accounts, Budget, Business, HMRC, News, Tax, VAT
Payment On Account Confusion

Under self assessment taxpayers are required to make payments on account of their tax liabilities. The payment on account instalments consist of two payments on account of equal amounts: the first on 31 January during the tax year and the
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Tax Gap Remains Low

15th July 2019 | Written by In Accountancy | Categories : Budget, HMRC, HMRC, News, Personal Tax, Tax
Tax Gap Remains Low

HMRC has published a report showing that the UK tax gap in 2017/18 is estimated to be £35 billion.  This is 5.6% of total theoretical tax liabilities, and a small increase of 0.1% from 5.5% in 2016/17. HMRC therefore secured
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MTD for VAT Latest

11th July 2019 | Written by In Accountancy | Categories : Business, HMRC, HMRC, Limited Companies, Making Tax Digital, Making Tax Digital, News, VAT
MTD for VAT Latest

HMRC is phasing in its landmark Making Tax Digital (MTD) regime, which will ultimately require taxpayers to move to a fully digital tax system. Under the rules, businesses with a taxable turnover above the VAT threshold(currently £85,000)must keep digital records
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HMRC Taskforce Tackles Dishonest Dog Breeders

6th July 2019 | Written by In Accountancy | Categories : Business, CASH, HMRC, HMRC, News
HMRC Taskforce Tackles Dishonest Dog Breeders

A taskforce has recovered more than £5 million by tackling dishonest dog breeders selling pups on the black market. HMRC set up the taskforce in October 2015 after discussions with animal welfare groups that were concerned that tens of thousands
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Forms P11D – Reporting Employee Benefits

4th July 2019 | Written by In Accountancy | Categories : Business, CASH, HMRC, HMRC, Tax
Forms P11D – Reporting Employee Benefits

The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2019, are due for submission to HMRC by 6 July 2019. The process of gathering the necessary information
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OTS Calls For Simplifying Everyday Tax For Smaller Businesses

3rd July 2019 | Written by In Accountancy | Categories : Business, CASH, HMRC, HMRC, Limited Companies, Tax
OTS Calls For Simplifying Everyday Tax For Smaller Businesses

A report by the Office of Tax Simplification (OTS) calls on the government to prioritise action to ‘address long-standing concerns about the experience of smaller businesses’. The report considers the business lifecycle, especially those starting up and provides recommendations in
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