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 More
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 More
You’ll know from my past blogs that HMRC have been targeting areas of the economy where they think there are tax evasion “black spots”. Just to put you into perspective: there have been 80 task forces since 2011 and 20 more are planned in 2014/15.Read More
There have been some further changes which are starting to impact upon PAYE compliance for this tax year 2014/15 and onwards, so I thought it may be handy to write a post to give you insights into these aspects. These are on top of the Real Time Information (RTI) structures which HMRC introduced in April 2013.Read More
The HMRC has written to selected taxpayers to tell them their effective rate of tax is lower than average and asking them to check if it’s right. The tax payers’ agents will get a copy (i.e. their accountants).
This is one of a number of letters which HMRC has been using in an attempt to ‘nudge’ potentially non-compliant taxpayers to “sort things out”.Read More
I like to give you, our readers, some heads up when it comes to specific campaigns that the HMRC runs in order to recover revenue in particular areas.
In this post I’m sharing about the Campaign that HMRC has launched to target people who are employed and have not declared income from self-employment.Read More
Many businesses receive capital allowances to recognise the equipment they use. However, there are no capital allowances for equipment such as beds, furniture, fridges and cookers bought for use in a residential property.
This is not the case for properties which fall within the definition of a ‘furnished holiday letting’ and expenditure on assets which are used in the non-residential part of a block of flats, for example the hallways.Read More
Many lenders are now asking to see copies of HMRC SA302 forms covering the past two or three years tax years. The SA302 is a response from HMRC which is only issued to those who file a paper tax return before 31 October following the end of the tax year. If you or your accountants have filed online you won’t have a SA302 form.Read More
Can I take on somebody to do work for me on a self-employed basis? My boss has asked me to become self-employed, is this legitimate?
These are questions that I have been asked frequently by clients in my time in practice…Read More
H.M.R.C. are cranking up their campaigns against tax defaulters by launching two new initiatives:
The Let Property Campaign
This campaign is aimed at getting people with undeclared rental income to come forward. It is targeting the residential property letting market. H.M.R.C. estimates that up to 1.5 million landlords in this sector may be…Read More