Online tax credit renewal
HM Revenue and Customs (HMRC) is increasing its effort to get eligible taxpayers to go online to deal with their tax arrangements rather than rely on post or telephone interaction with its staff.
Latest News
Parking fines not tax deductible
The rules relating to the tax treatment of parking fines has been clarified thanks to a recent first tier tax tribunal decision.
Make the most of your Personal Savings Allowance
The Government has introduced the Personal Savings Allowance to benefit those on low incomes who have savings as they no longer have to pay tax on interest received. The changes came into effect on 6 April 2016.
Company ownership register
The Government has recently introduced a requirement that all UK companies need to identify ‘Persons with Significant Control’ as part of their Confirmation Statement (formerly known as the Annual Return)
Taxpayers should have known
In a recent tax case the Court of Appeal has agreed with HMRC that a company “should have known” of the link to fraud
Social media show-offs
Only last week we blogged about HMRC’s efforts to track down internet traders who are evading tax here we focus on social media and how it’s being used to identify tax evaders. Some cyber security firms along with HMRC are getting internet savvy using Facebook, twitter and Instagram to identify potential tax evaders through their children. Apparently […]
Internet traders and tax
The tax position for internet traders can be complex, particularly given HMRC’s focus on spotting traders who don’t declare what can be significant income from their online trading activities. In an effort to simplify the situation and recognise that many of us only dabble in using the likes of auction selling sites such as eBay […]
Budget highlights 2016
The Chancellor delivered his 8th consecutive budget on 16 March. Below are some of the highlights we’ve identified that we think will be of particular interest to accountants and business owners.
Capital Allowances simplified: infographic
They say a picture is worth a thousand words and whilst we wouldn’t go quite that far we think you’ll find our new capital allowances infographic explains the process in a direct and clear manner. From experience we know it’s really easy for commercial property owners to overlook the opportunity capital allowances present, disregarding this tax […]
Are you winding me up?
HMRC recently published a consultation document on company distributions which closed for comments on 3 February 2016. Draft legislation in respect of a number of proposed changes to take effect from 6 April 2016 was published alongside the consultation. The main aim of the consultation was to: understand whether parts of the distributions legislation are […]