Below you'll find a list of all posts that have been tagged as “hmrc”
If you’re not sure what business expenses to claim, HMRC is providing a helpful webinar on the subject: “Business expenses for the self-employed” Find out what expenses are allowable, including travel, overnight expenses, premises costs and using your home. Discover how simplified expenses can save you time. Wednesday 28 March …
Making Tax Digital (MTD) isn’t scheduled to start until April 2019, but HMRC is asking businesses to try it a year early. All businesses will be required to use MTD from April 2019, so should you join and is it worth joining the pilot scheme? You need to login to view …
HMRC has issued a warning about a new scam using gift cards which is conning elderly and vulnerable people. The scammers cold call their victims, impersonating an HMRC member of staff and telling them, often in an intimidating manner, that they owe significant amounts of tax. They say this tax can …
HMRC has clarified the transitional rules for salary sacrifice arrangements, which are less generous than they first seemed. Recap on the transitional rules Look out for the trap Variations Payroll implications Premium & Pro members: Login to your members intranet for the full rundown, comments and links to specialist guidance.
(for the time being?) Provisions to introduce “Making Tax Digital” (MTD) have been removed from the Finance Bill and are therefore absent from the Finance Act, which received Royal Assent on 27 April 2017. Other provisions dropped include the tax-free allowance on trading income for self-employed people who earn £1,000 …
Making Tax Digital (MTD) shelved! The Treasury has removed 72 of the 136 clauses from the Finance Bill so that they could get it through Parliament before it is dissolved ahead of the General Election. Amongst the key proposals that have been shelved are plans to ‘Make Tax Digital’ by forcing …
Representatives from the CIOT, ICAEW and ACCA have agreed at a hearing with the Treasury Committee that plans for Making Tax Digital (MTD) should be ‘parked’ until HMRC can provide more clarity about various software and IT issues. However, it was not clear from the hearing whether the MPs are …
An online forum for start ups and small business owners has been launched by HMRC. The Small Business Forum is divided into three categories: starting your business, growing your business and managing your business. Registered forum users can post questions about filing tax returns, paying tax and using HMRC’s digital …
Small business owners are not prepared for the introduction of Making Tax Digital (MTD). From April 2018, business owners will have to file digital quarterly tax reports, as well as record their expenses using accounting software that can send updates to HMRC. However, research is revealing that 65% of small …
I trade through a limited company which is registered for VAT under the Flat Rate Scheme. I have heard that the VAT Flat Rate Scheme is being changed from next year. What are these changes and how will they effect my business?
The Government isn’t introvert in its message about needing to be tighter in the way it manages and collects tax. Under the label of “simplifications” and “removing unfairness from the system” it is raising taxes by revising the rules for tax on lump sum payments to employees. You need to login …
HMRC’s latest consultation spells the end of some types of salary sacrifice scheme. If you use one or more, how will it affect you? You need to login to view the rest of the content. Please Login. Not a Member? Join Us
Your 2014-15 tax return was due for filing by 31st January 2016 in order to avoid any penalties. If you still haven’t filed your 2014-15 tax return you will now be racking up some quite hefty penalties. And the penalties you’ll be liable to are as follows: Not filed online …
The 2016 Budget Statement was given yesterday by Chancellor George Osborne. In the statement the Chancellor defines his proposals as “a Budget for small businesses.” The key headlines within the Budget statement are reviewed here by Dawn Whiteley, CEO of National Enterprise Network.
We all make mistakes, and when it comes to VAT returns, despite our best efforts, mistakes can still happen. Obviously we want to be as accurate as possible, correct the mistakes and avoid fines. But what is the best way to do that? You need to login to view the rest …
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Some interesting HR statistics on; Unemployment Pay Tax Flexible working Shared Parental Leave This content is for all members. Not a member yet? You can join from free You need to login to view the rest of the content. Please Login. Not a Member? Join Us
New rules are being introduced to allow HMRC to issue enforceable tax assessments on demand from July 2016. Whoi will be affected and in what situations will they be used? You need to login to view the rest of the content. Please Login. Not a Member? Join Us
A new briefing sheet has been added to the Tax, Accounting & Financial Management channel on “Retrospectively joining or leaving the Flat Rate VAT Scheme” This briefing explains where a director or member of staff puts in an expenses claim, it might include purchases on which VAT was paid – …
Business Record Checks were introduced by HMRC in 2012 in an effort to ensure that all companies statutory business records were correct, current and up to date. They have been criticised as being ineffective. The Chartered Institute of Taxation (CIOT) has reported that the business record check initiative is to be …
