News
Half of all SMEs make VAT return mistakes
11 September 2019
Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research. The data also revealed that just 27 per cent of small businesses are confident that they have filed their return correctly, even though they have spent more than an hour checking their figures.
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Tax investigations reap in £13 billion for the treasury
11 September 2019
The latest official data from HM Revenue & Customs (HMRC) shows that the actual cash collected from all tax investigations hit £13 billion in 2018/19. This was up 27 per cent from the previous tax year in which £10.3 billion was collected. The data also showed that transfer pricing fines for multinationals have risen to £413,000.
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How to tell if an email is fraudulent
11 September 2019
Email scams have become increasingly common, with fraudsters claiming to be from companies, banks and even HM Revenue & Customs (HMRC) to obtain your data and bank details. The fraud, which is also known as a phishing scam, can also involve malicious software that can infect your device with a virus.
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Government’s draft IR35 legislation contains important changes
16 August 2019
After much anticipation, the Government has now published its draft legislation for the off-payroll working (IR35) rules, which will be enforced in the private sector from 6 April 2020. The latest policy document for the private sector shares a number of similarities with that already in force in the public sector.
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Construction businesses only have weeks left to prepare for the VAT reverse charge
16 August 2019
Businesses in the construction industry now have only a matter of weeks left to prepare for the new VAT domestic reverse charge regime. These new rules will be enforced from 1 October 2019, significantly changing the VAT affairs and tax liabilities of companies in the construction industry.
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HMRC outlines changes to Capital Gains Tax treatment on second homes
16 August 2019
From April 2020, the date at which Capital Gains Tax (CGT) must be paid on a second home property disposal is changing. After this date, taxpayers will only have 30 days to file their return and make an advance payment towards their tax bill.
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Summer childcare costs cooldown with Tax-Free Childcare
16 August 2019
The Government wants to remind working parents that they could be entitled to up £2,000 per child per year to help with the costs of childcare, including regulated holiday clubs during the school holidays.
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Employment Allowance to be restricted from next year
16 August 2019
At the moment businesses and charities of all sizes can benefit from Employment Allowance. However, from the start of the new tax year in April 2020, the allowance will only be available to employers with a secondary National Insurance Contributions bill in the current tax year of less than £100,000.
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Principal Private Residence Relief and Lettings Relief changes due in April 2020
16 August 2019
The start of the next tax year in April 2020 will see key changes come into effect in respect of Principal Private Residence Relief (PPR) and Lettings Relief, both of which can be used to soften the impact of Capital Gains Tax (CGT) on property disposals.
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New figures show that a quarter of estates paying Inheritance Tax (IHT) are investigated by HMRC
16 August 2019
The response to a Freedom of Information (FoI) request has revealed that as many as one in four estates that are liable for IHT are investigated each year. In 2018-19, more than 5,500 investigations were launched by HMRC into the approximately 22,000 estates that had to pay the tax.
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Child's play with proactive accounts management
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A modern approach required for music moguls
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A shared passion for architecture and a head for numbers
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A taste for growth, a thirst for knowledge
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Smiles all round for dental practice
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Customer care is top of the list for packaging business
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Taxing demands with old school charm