Some 700,000 people failed to submit on time – if you missed the self assessment deadline, here’s what you need to know Millions of people will be breathing a sign of relief today after just about making HMRC’s tax return deadline. But for others, it’ll be a day of panic […]
Hundreds of thousands of private-sector contractors face higher tax and National Insurance (NI) bills from April 2020. The chancellor announced that tighter tax rules for those working in the public sector will be extended to those working for private firms. The rules, known as IR35, are designed to hit those […]
At a recent ‘talking points’ webinar HMRC summarised some of the main points on how it tackles fraud and related issues such as the use of the Contractual Disclosure Facility (CDF) and the potential liability that accountants may face.   As these are very important issues we are summarising its […]
HM Revenue & Customs is seeking new powers that will allow it to obtain information about taxpayers from any business or organisation without seeking approval from the tax tribunal. The proposals, set out in a government consultation launched this week, would allow HMRC to submit information requests directly to financial institutions, accountants, […]
HMRC told AGAIN to toughen up on VAT-dodging online traders The UK taxman has been told to crack down on online traders that aren’t paying their fair share of VAT when they sell on sites like Amazon and eBay. The House of Commons Public Accounts Committee has been pushing the […]
Christa Ackroyd, a former BBC presenter, has been ordered to pay more than £400,000 in unpaid tax after the High Court ruled that she was caught by IR35 tax legislation. HMRC has won an IR35 case against former presenter of BBC Look North, Christa Ackroyd, who worked for the BBC […]
New year shock looms for hundreds of thousands as payment method is removed Hundreds of thousands of taxpayers hoping to defer the pain of their annual tax bill by paying on plastic will be hit by an HM Revenue & Customs ban on personal credit card payments which comes into […]
If the only tool you have is a hammer then every problem looks like a nail. If you spend your whole time focused on just one topic, you can sometimes lose sight of the importance of other areas. Some topics though are too important to ever ignore completely, and when […]
Overview of some of the common tax issues on rental expenditure. The general rule when calculating rental business profits is that expenses will be treated as revenue expenditure, provided that they are incurred wholly and exclusively for the purposes of the business and are not of a capital nature. EXPENDITURE […]