It’s already a crime to evade tax, or deliberately help another person to do so, but the government has taken a firmer stance on corporate fraud. In this blog post, I’ll outline the new criminal offences and provide advice on how you can prevent the criminal facilitation of tax evasion. What’s changed? The Criminal Finances […]
Read MoreMaking Tax Digital – A new and more sensible way forward!
The government has announced a new timetable and revised plans for Making Tax Digital (MTD). This welcome announcement means that MTD is not going to be forced onto businesses in the immediate future. Read this blog post to find out why the plans have changed and what the new timetable is. As a professional, I […]
Read MoreTax-Free Childcare scheme
At the end of April 2017, the new Tax-Free Childcare scheme was launched by the Government. In this blog, I explain what the scheme is, who’s eligible and what this means for employers. What’s new? The government has started inviting parents to apply for Tax-Free Childcare beginning with parents of the youngest children and parents […]
Read MoreProperty Letting: The New Rules
In line with the recent tax changes to property lettings, we’ve posted a detailed review on our resources page. Here’s an at-a-view glance about what you need to know… Understanding the new rules The recent tax changes to property lettings apply to buy-to-let landlords in the UK and their residential properties. Interest relief The change […]
Read MoreTax scam targeting the elderly
There’s a worrying telephone tax scam doing the rounds at the moment, which is particularly targeting the elderly. HMRC has asked us to alert our customers and share what you should watch out for… How this particular tax scam works A fraudster leaves you a telephone message threatening you with a HMRC lawsuit. You’re asked […]
Read MoreNew changes for buy-to-let owners
Following the 2015 Summer Budget, there are some changes being brought into force for buy-to-let owners. Read on to find out how the new rules will affect you…
Heard the news? Income tax relief for landlords on residential property finance costs is to be restricted to the basic rate of income tax.
Read MoreThe New Dividend Tax Explained
It’s all change on dividend tax rules following the 2015 Summer Budget. Read on to find out how they could affect you…
In the 2015 Summer Budget, the Chancellor announced there are going to be fundamental changes to the way dividends are taxed.
Read MoreForm SA302: Certifying Income for Mortgages – H.M. Revenue & Customs makes some changes…
As I have blogged before, most mortgage lenders require form SA302 as evidence of a mortgage applicant’s financial standing. These forms are difficult to get hold of as HMRC only automatically issue them to tax payers who have submitted a paper tax return. A vast majority of people either submit their returns on-line or use tax agents who similarly submit their client’s tax returns on-line.
Read MoreThe Budget 2015 | “Steady as she goes”
This was the Chancellor’s last Budget Statement before the general election on 7 May 2015. The last Budget before an election is always likely to be a political budget with the possibility of pre-election giveaways.
However the Chancellor was consistent before the Budget in dampening down expectations. When the speech came – it was entertaining with plenty of digs against the Opposition but with very few major proposals. The message is still ‘steady as she goes’. What will the electorate think? By the 7 May 2015 the hype will have subsided and the implications of any proposals will be much clearer.
Read MoreChild Benefit |Poorly targeted, aggressive letters from HMRC are causing trouble
Once again some taxpayers have received letters from HMRC asking them to “check their tax return”. HMRC appears to have sent the letters to those individuals who said they had received child benefit and earned over £50,000 in 2012/13. However they have not paid the High Income Child Benefit Charge (HICBC). In all the cases our professional body, the ICAEW, has seen, the taxpayers did not have to pay HICBC because their spouse or partner earned more than them and had actually paid it.
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