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Spring Statement Date Announced

8th February 2019 | Written by In Accountancy | Categories : Budget, Business, HMRC, HMRC, Miscellaneous, News
Spring Statement Date Announced

The Chancellor of the Exchequer, Philip Hammond, has announced that the government will respond to the forecast from the Office for Budget Responsibility (OBR) in the Spring Statement on Wednesday 13 March 2019. The Chancellor may take the opportunity to announce tax changes and consultations. We will update you on pertinent announcements. Internet link:  GOV.UK news


Businesses Urged to Prepare for Post-Brexit Customs Declarations

8th February 2019 | Written by In Accountancy | Categories : Business, Client Focus, HMRC, HMRC, Limited Companies, News
Businesses Urged to Prepare for Post-Brexit Customs Declarations

HMRC is urging VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit. In a letter sent to 145,000 affected businesses, HMRC explains changes to Customs, Excise and VAT procedures in the ‘unlikely event’ that the UK leaves the EU without a Brexit deal. HMRC’s letter advises businesses to take three actions ahead Read the full article…


MTD for VAT – Pilot Extended to all Eligible Businesses

7th February 2019 | Written by In Accountancy | Categories : Business, HMRC, HMRC, Limited Companies, Making Tax Digital, Making Tax Digital, Tax
MTD for VAT – Pilot Extended to all Eligible Businesses

HMRC has extended its Making Tax Digital for VAT (MTDfV) pilot scheme to all eligible businesses. For most businesses, compliance with the regulations is mandated for VAT return periods beginning on or after 1 April 2019. However, MTDfV for some ‘more complex’ businesses has been deferred until 1 October 2019. This deferral applies to: trusts; not for profit organisations not Read the full article…


Inheritance Tax Review by Office of Tax Simplification

29th December 2018 | Written by In Accountancy | Categories : HMRC, HMRC, Personal Tax, Tax
Inheritance Tax Review by Office of Tax Simplification

The Office of Tax Simplification (OTS) has published the first of two reports on inheritance tax. The first report sets out an explanation of the issues and complexities of IHT, gives an overview of concerns raised by the public and professional advisors during the review and then makes recommendations. This first report examines the administrative issues that people complain about Read the full article…


Phishing Tax Refund Email Targets University Students

27th December 2018 | Written by In Accountancy | Categories : HMRC, HMRC, News, Tax
Phishing Tax Refund Email Targets University Students

HMRC has warned that university students are being bombarded with fake tax refund emails. The scammers have targeted university students in an attempt to steal their banking and personal details using .ac.uk email addresses that look genuine, in order to avoid detection. Mel Stride, Financial Secretary to the Treasury said: ‘Although HMRC is cracking down hard on internet scams, criminals Read the full article…


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…