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 […]
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 […]
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 […]
A recent Tax Tribunal ruled that a six figure fine imposed for missing a VAT payment by one day was “proportionate” when a business was late in paying monies owed to HMRC.
HMRC recently won a VAT fraud case that saw the imprisonment of a Gloucestershire businessman, who stole almost £265,000 of taxpayers’ money by claiming false VAT repayments for his web development company.
If you’re married or in a civil partnership make sure you’re not missing out on an opportunity to save on your annual tax bill by using the Marriage Allowance available to you.
Property business incorporation – higher rates of SDLT Property business incorporation is a tax planning solution suitable for landlords running their property portfolios as businesses. The recently enacted changes to tax relief for finance costs have made property business incorporations even more compelling particularly for residential landlords as companies are not affected by these changes. Property […]
People who previously invested in film finance schemes have received letters from HMRC’s counter-avoidance unit offering them an opportunity to settle what has been a long-running tax dispute over the validity of the tax schemes. In their letter HMRC state that they are offering investors the opportunity to avoid further investigation and what could be substantial costs […]
HMRC has introduced a new policy paper which is an anti-fraud measure that removes the opportunity for fraudsters to charge VAT and then go missing before paying it over to the Exchequer in Missing Trader Intra-Community (MTIC) fraud.
The Government’s plan to change reliefs relating to property continue to make the headlines as more and more buy-to-let landlords talk of exiting the sector.
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