Do you want your neighbour and friends to know exactly how much you earn? Or your competitors, employees or customers know what your margins are? Well, if you are the owner of a small, limited company then new legislation, currently working its way through Parliament, will mean that information […]
Tag Archives: HMRC
19
Oct
Oct
What Is A Gig Economy The dictionary definition of “Gig Economy” or gig workers is “A way of working that is based on people having temporary jobs or doing separate pieces of work, each paid separately, rather than working for an employer.” The Role Of Digital Platforms In The […]
16
Oct
Oct
Running a successful business involves fulfilling various obligations and effectively managing key aspects of your operations. In our comprehensive guide ‘Running a Limited Company: A practical guide for business owners’, we delve into the importance of registering with HMRC, managing your budget, understanding insurance options, and staying on top of […]
06
May
May
As the 2021 Tax Return gears up, HM Revenue & Customs has confirmed that it will issue harsh penalties to tax payers who have incorrectly claimed SEISS, and subsequently not taken advantage of opportunities to voluntarily repay the excess amounts. The rules state that overpayments must be notified to HMRC […]
31
Mar
Mar
Due to increased activity by fraudsters during the pandemic as they attempt to illegally access Covid-19 grants and loans, HMRC has decided to be more wary when submitting tax (including VAT) payments to taxpayers. Accordingly, HMRC is now writing to taxpayers who have claimed a recent tax refund that is […]
02
Mar
Mar
There is a general impression, both in mainstream media and, more importantly, within HMRC, that up to 10% of claims for CJRS may be “inaccurate.” HMRC has announced that it will be enquiring into claims and it anticipates that about 25% of all claims will be looked into. Whilst we […]
30
Nov
Nov
HM Revenue & Customs have slightly changed the requirements for claiming the third tranche of the SEISS compared to the previous two tranches – but the result may have a major impact on the self employed’s ability to claim the SEISS. When claiming the first two SEISS grants the […]
16
Nov
Nov
We have been advised that HMRC is sending computer generated letters to taxpayers when the submitted 2019 personal tax return contains information that differs from the information held by HMRC. HMRC uses data from many sources to cross check information reported on self- assessment tax returns. It could open […]
21
Oct
Oct
The rules regarding UK residency and UK tax position are not straightforward and we recommend that this is carefully reviewed to ensure your peace of mind. As well as the usual regulations, HM Revenue & Customs’ rules include a 60 day “exceptional circumstance” get out clause. However, this may not […]
23
Jul
Jul
The deadline for submission of forms P11D and P11D(b) to HMRC advising of benefits in kind provided to employees, is 7 July 2021. Employers need to look at this now, particularly as the provision of company cars and furlough may provide problems. A benefit in kind tax charge arises where […]