National Minimum Wage investigations have drastically increased

Sep 15, 2020

National Minimum Wage investigations by HM Revenue & Customs (HMRC) have increased significantly, according to the latest research. These inspections rose due to modern slavery reports and other controversial probes into UK garment factories. To guarantee that workers are paid correctly, HMRC ...

Blog, HMRC, SMEs, Tax, VAT

HMRC: Making Tax Digital to be extended to all VAT-registered businesses from 2022

Aug 06, 2020

HM Revenue & Customs (HMRC) has confirmed that Making Tax Digital (MTD) will be extended to all VAT-registered businesses from April 2022. The change forms part of the Government’s digital tax drive, which will eventually see all kinds of tax reported ...

Blog, HMRC, SMEs, Tax

Chancellor considers online sales tax for e-commerce retail sector

Jul 28, 2020

The Chancellor, Rishi Sunak, is considering the introduction of a new sales tax for the online retail sector in a bid to help the struggling high street compete with the e-commerce sector. The Treasury published a call for evidence last week, ...

Blog, HMRC, SMEs

Only a quarter of eligible businesses registered for ‘Eat out to help out’ scheme

Jul 23, 2020

According to the latest figures from HM Revenue & Customs (HMRC), only a quarter of eligible businesses in the hospitality sector have signed up to the new ‘Eat out to help out scheme’. It is believed that since registration for the ...

Blog, HMRC, Personal accounting, Tax, VAT

Self-assessment taxpayers can “automatically defer payments on account”, HMRC confirms

Jul 20, 2020

Self-employed taxpayers due to make a payment on account can automatically defer the payment until 31 January 2021, it has been confirmed. The second Self Assessment payment on account for the tax year 2019/20 is usually due at the end of ...

Blog, HMRC, Tax, VAT

“Tax gap” falls to lowest level on record

Jul 14, 2020

The “tax gap” – the difference between what should be paid and what is actually paid – has fallen to its lowest recorded rate, new figures have revealed. HM Revenue & Customs (HMRC) said the record is a collaborative result of ...

Blog, HMRC, Tax

COVID-19: Government set to introduce Stamp Duty holiday

Jul 07, 2020

The Chancellor, Rishi Sunak, is set to announce the introduction of a Stamp Duty holiday in his summer statement on Wednesday 8 July 2020. Several financial measures are expected to be announced in the summer statement as the Government looks to ...

Blog, HMRC, SMEs, VAT

Can I save money by leasing a car through my company?

Jun 29, 2020

Is it cheaper to lease a car through a limited company? It’s a question we’re often asked, but the answer isn’t quite so straightforward. Leasing a vehicle in any shape or form can save you money and improve cash flow by ...

Blog, HMRC

Stamp duty: Government relaxing three-year rule for reclaiming surcharge for exceptional circumstances in relation to COVID-19

Jun 15, 2020

The Government is relaxing the three-year rule for reclaiming the Stamp Duty Land Tax (SDLT) surcharge for exceptional circumstances where a property could not be sold during the three-year time limit because of the impact of the coronavirus pandemic. Under the ...

Blog, HMRC, Personal accounting

Check your eligibility and make a Self Employment Income Support Scheme claim

May 14, 2020

HM Revenue & Customs is currently contacting eligible individuals regarding the Self Employment Income Support Scheme (SEISS) so that they can begin the application process. You may be eligible for the scheme if: Your trading profits are no more than £50,000, ...

HMRC