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Government confirms that HMRC will get a higher priority when firms go bust - June 7, 2019
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From April next year, HM Revenue & Customs (HMRC) will rank third just after secured creditors, such as banks, and insolvency practitioners in order to recover additional outstanding tax from failing… |
MTD for VAT – relaxation on posting supplier statements - June 7, 2019
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HM Revenue & Customs (HMRC) has updated its VAT notice regarding Making Tax Digital (MTD) for VAT to relax several of the digital recordkeeping requirements. One of the changes, secured with the help… |
Significant lack of awareness around gifting rules for IHT - June 7, 2019
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A new report published by the National Centre for Social Research (NatCen) and the Institute for Fiscal Studies (IFS) has revealed a worrying lack of awareness about the Inheritance Tax (IHT) benefits… |
New code launched to help protect victims of sophisticated banking fraud - June 7, 2019
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A new code has been launched by 17 UK banks to protect customers who fall victim to a sophisticated form of fraud known as Authorised Push Payment (APP) scams. APP scams involve tricking people into making… |
Revenue tests new trigger to increase the accuracy of PAYE codes - June 7, 2019
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HM Revenue & Customs (HMRC) is trialling a new trigger, which is intended to improve the accuracy of employees’ PAYE tax codes. According to HMRC, as many as half a million tax codes being used by… |
Beware the Employer Compliance Check Questionnaire - May 3, 2019
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HM Revenue & Customs (HMRC) is understood to be sending out “Employer Compliance Check Questionnaires” without notifying agents, which could land businesses in trouble if the wrong information… |
Pass on up to £950,000 tax-free in 2019-20 - May 3, 2019
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As of 6 April, direct descendants can inherit up to £950,000 completely free of income tax from their parents or grandparents thanks to increases in the residence nil-rate band. This tax-free allowance… |
Employers must comply with new payslip rules - May 3, 2019
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Under the Government’s Good Work Plan, more than 300,000 workers have received a payslip for the first time under new rules that came into force in April. However, experts fear that many employers may… |
Additional year to prepare for Making Tax Digital for taxes other than VAT - May 3, 2019
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The Chancellor’s Spring Statement contained an important nugget of information for businesses that had been wondering when they will need to be ready for Making Tax Digital (MTD) for taxes other than… |
IR35: off-payroll working rules set to change next year - May 3, 2019
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HM Revenue & Customs (HMRC) has published new guidance on the expansion of the IR35 requirements to contractors working in the private sector. IR35 governs the tax status of people working through… |
Latest News
Aug
After much anticipation, the Government has now published its draft legislation …
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Aug
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...
