Nearly 100,000 taxpayers spread cost of tax bill into manageable monthly instalments, HMRC reveals
Feb 17, 2022
Nearly 100,000 taxpayers used HM Revenue & Customs’ (HMRC) Time to Pay self-serve facility to spread the cost of their 2020/21 tax bill, it has been revealed. The figures, published by the tax authority, come after the 31 January Self Assessment ...
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NFT fraudsters arrested by HMRC
Feb 14, 2022
Three people have been arrested on the suspicion of attempting to defraud HM Revenue & Customs (HMRC) for a total of £1.4 million. The suspects may have committed VAT fraud by using Non-Fungible Tokens (NFTs) for 250 possibly fraudulent companies. An ...
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Benefits of cloud accounting software far outweigh costs, study reveals
Feb 11, 2022
Cloud accounting software adopters are more likely to experience the benefits of Making Tax Digital (MTD) for VAT than those using only bridging software, a new study has revealed. The research, published by HM Revenue & Customs (HMRC), comes ahead of ...
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How can apprenticeships help your business?
Feb 07, 2022
As you may know it is currently National Apprenticeship Week 2022 (NAW). From 7 February to 13 February 2022, the Government is running this campaign to highlight benefits of apprenticeships for both employers and employees. The theme for this year’s NAW ...
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Cryptocurrency and working out your tax liabilities
Feb 03, 2022
Cryptocurrencies are proving volatile at the moment with values tanking and then picking up again as the market fluctuates. But with an estimated more than two million currency holders in the UK, many may not be aware of their tax obligations ...
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Student loans: what is changing for graduates in April
Feb 01, 2022
The earning threshold for Plan 2 student loan repayments in England and Wales will remain frozen for the tax year 2022-23, it has been announced. Currently, the threshold for undergraduate loan repayments stands at £27,295 per year and will remain at ...
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Tax relief: Are you missing out on up to £2,000 a year towards the costs of childcare?
Jan 27, 2022
Workers can claim up to £2,000 a year towards childcare costs by signing up to the Tax-Free Childcare scheme, it has been reminded. HM Revenue & Customs (HMRC) said thousands of families may be missing out on free cash each month. If ...
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HMRC scam calls have decreased by 97 per cent
Jan 25, 2022
Scammers posing as HM Revenues and Customs (HMRC) were rife in March 2021, with a staggering 79,477 calls reported. However, as of December 2021, reported scam calls were down by 97 per cent to 2,491. As well as calls, phishing emails saw ...
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Claim up to £5,000 towards the cost of cloud accounting software under new Help to Grow: Digital scheme
Jan 21, 2022
Small businesses could get up to £5,000 to pay for cloud accounting software under the Help to Grow: Digital scheme, it has been announced. The initiative – which forms part of the Government’s flagship support programme for small businesses – launched ...
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Penalty reform for VAT delayed until January 2023
Jan 17, 2022
The penalty reform for late payments has been delayed until 1 January 2023, confirms a statement by Lucy Frazer (The Financial Secretary to the Treasury). There is currently a VAT default surcharge in place, which is incurred if the VAT return ...
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