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Construction sector VAT shakeup

Government are considering an extension of the VAT reverse charge to include the construction sector. The reverse charge process places the responsibility for paying VAT on the customer instead of the supplier. In their explanatory notes on this topic HMRC said: What is being done...
6 months 1 week ago

Ring in the changes, or else

There are a number of obligations that business owners should be aware, that involve them informing HMRC of changes to their business circumstances. In some cases, failure to comply may result in fines. We have paraphrased some of occasions when you will need to advise HMRC:
6 months 1 week ago

Thousands receive back pay

In a recent press release, HMRC urged underpaid workers to complain as figures show that the number of workers getting the money they're owed by employers has doubled after interventions by HMRC. According to latest figures, in 2017-18, HMRC investigators identified £15.6 million in...
6 months 2 weeks ago

Crackdown on abuse of UK businesses

Reforms are being considered that will ensure that Scottish Limited Partnerships continue to be used as a legitimate vehicle for investment in the UK. Measures to crack down on the abuse of a specialised financial arrangement to launder foreign money through the UK was unveiled at...
6 months 2 weeks ago

Employees holiday entitlement

The following definitions should help to clarify employee and employer rights and responsibilities regarding entitlement to holiday pay. Almost all workers are legally entitled to 5.6 weeks’ paid holiday per year (known as statutory leave entitlement or annual leave). An employer...
6 months 2 weeks ago

What to do if you cannot pay your tax

HMRC will consider extended options for settling your outstanding tax bill. The key is to contact HMRC, explain why you can’t pay on time, and discuss how you can settle any outstanding liabilities. If you can’t pay before the deadline, call the Business Payment Support Service....
6 months 2 weeks ago

Tax Diary June/July 2018

1 June 2018 - Due date for Corporation Tax due for the year ended 31 August 2017. 19 June 2018 - PAYE and NIC deductions due for month ended 5 June 2018. (If you pay your tax electronically the due date is 22 June 2018) 19 June 2018 - Filing deadline for the CIS300 monthly return...
6 months 2 weeks ago

Premium rate fraudsters

There seems to be an endless growth in illegal sites who aim to make money by claiming to be associated with HMRC. The Government announced recently that it had scuppered one of these schemes. According to HMRC: Scammers create websites that look similar to HMRC’s official site...
6 months 2 weeks ago

Tax free home rentals

Since April 2016, the amount of tax-free income you can earn from letting a room in your home has increased to £7,500 per annum, or £3,750 if two persons own a property jointly. You can use the scheme if: you let a furnished room to a lodger your letting activity amounts to a...
6 months 2 weeks ago

Problems paying your tax on time

You would be hard pushed to find a tax payer who was happy to pay tax. Whatever the economic benefits of taxation, we would all prefer that someone other than ourselves paid the bill. Companies are obliged to disclose their corporation tax liabilities in the year in which they are...
6 months 3 weeks ago

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