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NEWS

The ID card is back, but now it’s on your phone!

Carrying identification cards to prove name or age could be a thing of the past, thanks to the development of ...
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New research highlights loneliness and the self-employed

New research from YouGov Omnibus and the Campaign to End Loneliness say that 54% of UK adults are struggling to ...
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How to stop late payment

2.5 million small businesses are affected by late payments every year, costing an estimated 286 million in man hours and ...
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A Big Four firm has been slammed by the accountancy watchdog

A Big Four firm has been slammed by the accountancy watchdog http://bit.ly/2K6fK3B ...
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Tackling online VAT fraud and error – the role of online marketplaces in co-operating with HMRC (The agreement)

There is no doubting that the growth of online e-commerce has had an important impact on the UK economy, enabling ...
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New laws to protect your home address at Companies House

The law has been changed to make it easier to remove your home address from the company register. This applies ...
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.eu Domains unrenewable

About 300,000 UK residents and UK-based organisations who hold a .eu domain name will not be able to renew them ...
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Benefits in Kind

Employers will now need to report all benefits in kind (BiKs) for their employees, including those under the Optional Remuneration ...
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New Tax Year Increases

An increase to the national living wage to £7.83 an hour, increasing of the personal tax allowance to £11,850 and ...
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HMRC provides guidance on offshore tax evasion

HMRC provides guidance on offshore tax evasion. HM Revenue and Customs (HMRC) has issued a document describing three new criminal ...
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Accountants launch legal challenge

Accountants to challenge government decision on right to handle legal work. The Institute of Chartered Accountants in England and Wales ...
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EU could force new laws on UK

EU could force new laws on UK. A report obtained by the Daily Telegraph has revealed that the UK could ...
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HMRC halts thousands of scam text messages

HMRC halts thousands of scam text messages. HM Revenue & Customs has stopped thousands of taxpayers from receiving scam texts, ...
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01 – 19/01/18

More VAT flexibility and less red tape is proposed for EU members. The European Commission has proposed new rules to ...
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01 – 16/01/18

UK outlines its strategy for a green future. A Government paper sets out its 25-year plan on how it will ...
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Many companies face cash VAT demand post-Brexit.

Many companies face cash VAT demand post-Brexit. Under the Taxation (Cross-border Trade) Bill 2017, companies may be required to pay ...
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HMRC bans credit card payments

HMRC bans credit card payments. HM Revenue & Customs is to stop accepting credit card payments less than three weeks ...
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Landlords have time to breathe and re-evaluate their business after UK Budget

Landlords have time to breathe and re-evaluate their business after UK Budget - PropertyWire http://snip.ly/cdxv6 ...
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Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion

The Bank of England’s Monetary Policy Committee (MPC) sets monetary policy to meet the 2% inflation target and in a ...
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The National Living Wage is now Law

Since 1 April, all workers aged 25 and over have been legally entitled to at least £7.20 per hour. As ...
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Chancellor unveils the design of the brand new £1 coin

A teenager’s design is set to line millions of pockets and purses across the UK within the next 2 years ...
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National minimum wage to rise by 20p an hour to £6.70

The National minimum wage to rise by 20p an hour to £6.70 The changes will benefit more than 1.4 million ...
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Bank of England maintains Bank Rate at 0.5% and the size of the Asset Purchase Programme at £375 billion

The Bank of England’s Monetary Policy Committee at its meeting today voted to maintain Bank Rate at 0.5%. The Committee ...
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1,773 happy returns at Christmas

HM Revenue and Customs (HMRC) received 1,773 online tax returns on Christmas Day – a 13 per cent increase on ...
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HMRC turns attention to horsebox owners in evasion clampdown

Horsebox owners dishonestly claiming horseboxes worth hundreds of thousands of pounds as company expenses are set to be the subject ...
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EU VAT CHANGES FOR 2015

There are two new directives, first for the fast reaction mechanism aimed towards preventing VAT fraud. Second one is for ...
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USES OF FINANCIAL REPORTS

Financial statements may be used by different stakeholders for a multitude of purposes. Owners and managers require financial statements to make ...
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FUNDAMENTAL ACCOUNTING

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the ...
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SAVE ON TAXES

Value Added Tax (VAT) is a tax on consumption levied in the United Kingdom by the National Government. It was ...
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ACCOUNTING 1 ON 1

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the ...
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Solicitors targeted in new tax clampdown

Solicitors are being given the chance by HM Revenue and Customs (HMRC) to bring their tax affairs up to date ...
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PROPER INVOICE INFO

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the ...
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PROPER INVOICE INFO

Financial statements are prepared according to agreed upon guidelines. In order to understand these guidelines, it helps to understand the ...
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Digital services suppliers urged to register for new EU VAT service

Businesses supplying digital services across the European Union will be able to register for a new online VAT service from ...
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Tax reconciliation errors affect ‘thousands’

HMRC has “stopped” issuing income tax repayments after a leaked email revealed that end of year tax reconciliations for thousands ...
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HMRC gains pay packet tax debt collection powers

HM Revenue & Customs will be able to deduct up to £17,000 per year of tax debts from high earners' ...
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Abolition of the vehicle tax disc

From 1 October 2014, the paper tax disc will no longer need to be displayed on a vehicle. If you ...
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Experts warn over VAT digital services rules

Businesses who make and sell apps or provide digital services to consumers in the European Union will see their paperwork ...
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A third of HMRC callers waiting 10 minutes

Over a third of callers to HMRC helplines are waiting 10 or more minutes for their call to be answered, ...
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Automatic RTI penalties delayed again for small companies

HMRC has announced that the introduction of automatic penalties for late RTI submissions will be delayed another five months for ...
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Katie Melua admits being ‘clueless’ about tax scheme

Singer Katie Melua says she was "clueless and inexperienced" when she signed up to a tax avoidance scheme known as ...
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SFO fined for incorrect VAT claims

The Serious Fraud Office (SFO) was fined more than half a million pounds for owing HMRC £4m in VAT. The ...
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Tax credits online renewal form launched

With the tax credits renewal deadline of July 31 less than one month away, HM Revenue and Customs (HMRC) has ...
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Health workers have one week to join tax campaign

Workers in the health and wellbeing professions who have taxable income that they have not told HM Revenue and Customs ...
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New Bank of England banknotes to be printed on polymer

The Bank of England is today announcing that the next £5 and £10 banknotes will be printed on polymer, a ...
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RTI package of help for micro businesses

More than 99 per cent of Pay As You Earn (PAYE) records are now successfully being reported in real time, ...
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Autumn Statement 2013: overview of tax announcements

Personal Taxes and Tax Credits Personal Allowance, Rates of Tax, National Insurance Contributions for 2014 to 15 As announced at ...
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Crackdown on North East’s VAT cheats

Tax cheats in the North East who try to fraudulently reclaim VAT are being targeted as part of an HM ...
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Tax crackdown on South East and South road transport industry

Tax cheats in the South East and South road transport industry are being targeted as part of an HM Revenue ...
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Tax crackdown on hidden wealth in South East and South

Tax cheats in the South East and South who hide their wealth are being targeted as part of an HM ...
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Know your overseas shopping limits this Christmas

Christmas shoppers looking for bargains overseas have been warned not to get hit by unexpected charges, HM Revenue and Customs ...
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Food and living accommodation for staff now liable for VAT

Hotels and hospitality firms must now account for VAT on any income from providing living accommodation for employees, including on ...
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Summertime ends 2013

Summer time will end on Sunday 27 October at 2.00am GMT throughout European Union Member States. The Clocks go backwards ...
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Controversy after Facebook pays no UK corporation tax

Facebook has again attracted controversy over its corporation tax contributions in UK after paying nothing in 2013, down from just ...
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One week left to settle past tax bills

Taxpayers who have failed to submit tax returns for past years have one week left to come forward and take ...
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Online-only VAT returns deemed unlawful

Three small business owners have won an appeal against HMRC's requirement that all VAT returns are filed online. The requirement ...
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Physiotherapists and osteopaths among health professionals targeted in new tax campaign

People in the health and wellbeing professions who have taxable income that they have not told HM Revenue and Customs ...
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Tax opportunity for landlords to put house in order

Landlords who rent out residential property, and fail to tell HM Revenue and Customs (HMRC) about all the rental income, ...
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Tax crackdown for security industry

Tax cheats in the private security industry are being targeted as part of the next wave of taskforces launched today ...
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NIC tax break confirmed for businesses

Policy adviser at HM Revenue & Customs (HMRC), Raj Nayyar, has confirmed that the government’s proposal to give limited companies ...
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Time is running out for higher income parents to register for Self Assessment

Higher income parents currently receiving Child Benefit have just four weeks to register for Self Assessment with HM Revenue and ...
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Data payment crackdown

A new crackdown on tax evasion will make information on all credit and debit card payments to UK businesses available ...
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Vodafone in multi-million pound tax deal with HMRC

VODAFONE paid millions of pounds to HM Revenue & Customs as part of a previously unreported settlement linked to dispute ...
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HMRC wins £68m stamp duty avoidance case

HMRC is celebrating a legal victory after the Court of Appeal ruled against a £68m scheme used to avoid stamp-duty ...
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HMRC withdraws research VAT exemption

UK businesses and academic organisations may do less research after after the withdrawal of an exemption of VAT on research, ...
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Parents on higher incomes reminded to register for Self Assessment

Parents on higher incomes who continued to receive Child Benefit after January 2013 have been reminded that they must register ...
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Bank of England maintains Bank Rate at 0.5%

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves ...
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Time running out to catch up with second property tax

People who have sold properties which are not their main homes, and have not told HM Revenue and Customs (HMRC) ...
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P&O avoidance scheme scuppered

P&O has failed in a bid to use a complex international tax avoidance scheme to avoid UK corporation tax. The ...
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Simplifying National Insurance for the self-employed

Plans to simplify the way self-employed people pay National Insurance Contributions (NICs) have been published for consultation by HM Revenue ...
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HMRC admits losing 60% of VAT penalty cases

More than half of HM Revenue & Customs' decisions in VAT penalty cases are cancelled upon appeal, data in the ...
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Bank of England maintains Bank Rate at 0.5%

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves ...
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Sir Winston Churchill: the historical figure on the next banknote

Bank of England Governor, Sir Mervyn King, announced today that Sir Winston Churchill will appear on the next Bank of ...
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Government approves new National Minimum Wage rate of £6.31

The government has today accepted the independent Low Pay Commission’s (LPC) recommendations for this year’s adult and youth National Minimum ...
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‘Freedom day’ for business as cuts to red tape come into force

Business Minister Michael Fallon welcomes a boost for business as dozens of cuts to red tape come into force tomorrow ...
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Bank of England maintains Bank Rate at 0.5%

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves ...
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Shake up of PAYE begins

The biggest shake up of the Pay As You Earn (PAYE) system in nearly 70 years - Real Time Information ...
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Summertime begins 2013

Summer time will start on Sunday 31 March at 1.00am GMT throughout European Union Member States. The Clocks go forward ...
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HMRC to shut down all its 281 enquiry centres

The Taxman is to close down all of its 281 enquiry centres which gave face-to-face advice to almost two-and-a-half million ...
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Small business owners fail to claim back expenses

Less than three in ten small business owners claim back all their expenses and only a third feel fully confident ...
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Whatever the size of your business – get ready for PAYE changes

An advertising campaign heralding the biggest overhaul of the PAYE system in almost 70 years was launched today by HM ...
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Property tax campaign targets second home sales

People who have sold properties that are not their main homes, and who have not told HM Revenue and Customs ...
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Bank of England maintains Bank Rate at 0.5%

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves ...
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HMRC wins award from The Prince’s Trust

The Prince’s Trust today awarded HM Revenue and Customs (HMRC) Gold Patron status for its work with young people. The ...
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Call to action – Government tells business ‘prepare for 21st century tax reporting’

Real Time Information (RTI) will be better for employers, better for employees and better for Britain. It is time we ...
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Self Assessment tax crackdown in South East

Self Assessment (SA) tax cheats in London and the South East will be targeted by a new HM Revenue and ...
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Bank of England maintains Bank Rate at 0.5%

​The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves ...
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Game on for new tax regime

A new tax regime for businesses operating gaming machines comes into effect on 1 February 2013. Machine Games Duty (MGD) ...
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Record 9.61 million on-time tax returns

A record 9.61 million people found “inner peace” and sent their tax return on time this year, HM Revenue and ...
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Banks pay HMRC half a billion Swiss francs

The ground breaking tax agreement between the UK and Switzerland which came into force on 1 January 2013 has delivered ...
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Direct sellers – one month to settle tax bills

People selling directly to customers and who haven’t paid all the tax they owe have one month to come forward ...
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Tax return deadline just around the corner

If you still haven’t sent in your 2011-12 Self Assessment tax return, you’ve got just a few days left to ...
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HMRC’s affluent unit recruits 100 new inspectors

The tax team dedicated to ensuring the better off play by the rules is set to expand, HM Revenue and ...
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Businesses warned on late VAT returns

As many as 50,000 businesses that have failed to submit VAT returns will be targeted by HM Revenue and Customs ...
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PAYE attention – RTI is coming

Employers are being urged by HM Revenue and Customs to get ready for major PAYE changes that come into effect ...
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Farmers can use red diesel to help out during extreme weather snap

HM Revenue & Customs (HMRC) confirmed today that during extreme weather farmers can use red diesel in their tractors to ...
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Countdown to tax return deadline

The countdown has begun to the 31 January Self Assessment deadline, with just days left for anyone with an outstanding ...
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Bank of England maintains Bank Rate at 0.5%

The Bank of England’s Monetary Policy Committee today voted to maintain the official Bank Rate paid on commercial bank reserves ...
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