From April 2019, this targeted legislation aims to prevent UK traders and professionals from avoiding UK tax by arranging for their UK-taxable business profits to accrue to entities resident in territories where significantly lower tax is paid than in the UK. The counteraction will be effected by adding those profits to the profits of the UK trade. It will also introduce a duty to notify HMRC of relevant arrangements meeting certain criteria.
If you’re facing a hefty tax bill from HMRC you could be tempted to think of bankruptcy as being the easy way out, particularly if you have unsecured debts that amount to more than you can afford to pay off given your income. But think again it’s not and there are major implications that need to be considered.
This month has seen the publication of draft legislation, which implements tax policies announced in recent fiscal events and continues the government’s commitment to overhauling the UK tax system.
HMRC has set out how it is tackling non-compliance to ensure all taxes owed by individuals and companies are paid.
Sub-contractors and contractors carrying out supplies reported through the Construction Industry Scheme might be interested in HMRC’s technical consultation with a draft explanatory memorandum and draft tax information and impact note.
We revisit here how to prepare and conduct a VAT inspection if your business is selected for an assurance visit by HMRC.
Bedrock Tax has recently been successfully accredited under the government’s Cyber Essentials scheme.
The Office for Tax Simplification (OTS) has published a paper exploring ways of simplifying the taxation of individuals’ savings income.
HMRC has been contacting accountants and tax agents to let them know that it has become aware of a number of arrangements being promoted which claim to enable users to escape the 2019 loan charge.
We may be a bit old school when it comes to our taste in music but we’re on it when it comes to protecting your personal data and complying with the GDPR.