Latest News

SMEs unaware of £1 million annual investment allowance - July 9, 2019
News Article

A new study has found that more than half (58 per cent) of SMEs are not aware of a temporary two-year increase in the annual investment allowance (AIA), which could help them secure £1 million in funding….
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More than 150 chief financial officers and senior finance executives personally fined by HMRC last year - July 9, 2019
News Article

Research by law firm, Pinsent Masons, has found that more than 150 chief financial officers and other senior finance executives have been fined personally by HM Revenue & Customs (HMRC) in relation…
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Wealthiest UK families save nearly £700 million a year in Inheritance Tax - July 9, 2019
News Article

A new report has found that a significant proportion of the UK’s Business Relief goes to those with more than £1 million in assets. Tax Justice UK, a campaigning organisation, has revealed that 234…
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HMRC offshore time limit extension - July 3, 2019
News Article

The tax assessment time limit for non-deliberate offshore non-compliance has been extended to 12 years. This applies to Capital Gains Tax, Income Tax and Inheritance Tax, and it affects taxpayers whose…
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Why you should keep a record of Gift Aid charitable donations - July 3, 2019
News Article

Gift Aid is a way of donating to charity or Community Amateur Sports Club (CASC) that also includes the tax that you have been paid on the amount given. The charity can claim back the basic tax rate that…
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What happens if I’m confused about personal tax planning? - July 3, 2019
News Article

Are you bewildered by the thought of personal tax planning? Don’t worry – at MD Consulting we can help. Filing your taxes is not a topic that is taught in school, so it can be a daunting prospect for…
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Almost two million children have ‘forgotten’ savings accounts - July 3, 2019
News Article

Young adults who qualified for Child Trust Funds (CTFs) when they were born could be sitting on savings accounts that have been accumulating interest for 17 years. Official figures have revealed that almost…
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Taxpayers are being encouraged to take on the taxman - July 3, 2019
News Article

A recent court case has challenged a decision made by HM Revenue & Customs (HMRC), showing that the courts may act in favour of an individual who has made an honest mistake with their taxes. The case…
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How HMRC’s ‘Connect’ targets tax evaders - July 3, 2019
News Article

HM Revenue & Customs’ (HMRC) £100 billion supercomputer, ‘connect’, is being used to target tax evaders in the UK. Tax evaders are costing the economy in excess of £5 billion every year, benefitting…
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HMRC refunds £1.8 million in child benefit tax penalties - July 3, 2019
News Article

Refunds totalling £1.8 million have been issued by HM Revenue and Customs (HMRC) following the review of cases where families were penalised for failing to register for a charge relating to their child…
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Latest News

5
Aug
Government’s draft IR35 legislation contains important changes

After much anticipation, the Government has now published its draft legislation …
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5
Aug
Construction businesses only have weeks left to prepare for the VAT reverse charge

Businesses in the construction industry now have only a matter of weeks left …
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Spring Statement 2019

On any other day, the Chancellor’s Spring Statement would have dominated the headlines...

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