Discovery assessments: Catch up with the latest changes

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Discovery assessments: Catch up with the latest changes

Apr 19, 2022

Discovery assessments look set to be applied to the High-Income Benefit Charge under new legislation set out by the Government. A loophole regarding discovery assessments and the charge was brought to light following the case of HMRC V Mr Wilkes last ...

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Blog, SMEs, Tax

Corporation Tax: could you be missing out on tax reliefs?

Apr 11, 2022

Knowing which taxes your business is liable for can feel a bit overwhelming, which can result in you not recognising opportunities to save on tax. If you have a limited company or a foreign company with a UK branch, you will ...

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Blog, SMEs, Tax

Latest deadline for Making Tax Digital for VAT comes into force imminently

Mar 31, 2022

A major change in the way VAT is reported comes into force from tomorrow. Every small business that charges VAT will have to file accounts through the HM Revenue & Customs (HMRC) Making Tax Digital (MTD) system. All VAT-registered businesses must ...

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Blog, Tax, VAT

Huge majority back move to keep hospitality VAT at 12.5 per cent

Mar 17, 2022

The British public is overwhelmingly in support of the temporary 12.5 per cent rate of VAT for hospitality being retained. According to a new poll, nearly 80 per cent are in favour, but the Government seems determined that the rate will ...

Blog, HMRC, Tax

Watch out for tax scams, warns HMRC

Mar 11, 2022

HM Revenue & Customs (HMRC) is warning taxpayers to stay alert to tax scams after a surge in fraudulent activity. The report comes after the February Self Assessment deadline, when self-employed business owners expect to be contacted by the tax authority. According ...

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Blog, Tax

End of tax-free shopping: what is the impact on tourism?

Mar 07, 2022

Following Brexit, the UK removed tax-free shopping for tourists which is now having an impact on Britain’s prospects as an international shopping destination, new research reveals. Formerly, when the UK was part of the EU, tourists from outside the EU were ...

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Blog, Tax

Almost one million taxpayers handed late submission penalty after missing Self Assessment deadline

Mar 04, 2022

Nearly one million taxpayers have been fined after failing to submit their tax return on or before the 28 February Self Assessment deadline, it has been revealed. The report comes after the automatic £100 late submission penalty was waived for one ...

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Blog, Tax

How would an Online Sales Tax affect your business?

Mar 01, 2022

The UK Government is set to assess whether to introduce an Online Sales Tax (OST) as a solution to the tax imbalance in the retail sector. Why is there a tax imbalance? Throughout the pandemic, the retail sector was heavily impacted by ...

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Blog, Tax

Here’s how you can claim the 2022 council tax rebate

Feb 24, 2022

Households must set up a direct debt with their local council before they can receive the 2022 council tax rebate, it has been confirmed. The notice comes after the Government announced that millions of families in England will be eligible to ...

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Blog, Personal accounting, Tax

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 ...

Tax