HMRC aren’t known for their Christmas spirit, but there is one area where some taxpayers can benefit from a little cashflow bonus if they act now. Stefanie Tremain, from eading tax and advisory firm Blick Rothenberg, said: “Most people are aware that the normal filing deadline for a Self-Assessment tax return (and to make any […]
From the 13th of November, businesses will need to complete their VAT registration online as part of HMRC’s Making Tax Digital (MTD) strategy. With only one week to go until the changes come into effect, Mariana Príncipe, Head of VAT Compliance at Ryan, outlines the benefits and gives advice for firms registering online for the […]
Taxpayers need to be honest with the Revenue as soon as their affairs are challenged and not call HMRC’s bluff; otherwise, they will end up in the position that Bernie Ecclestone finds himself, say leading tax and advisory firm Blick Rothenberg. Bernie Ecclestone, the former boss of Formula 1 Racing, pleaded guilty to tax evasion […]
Rent out your home on Airbnb? Drive for Uber? Freelance on Fiverr? From January, these platforms will record your income and soon report it to HMRC… The growing number of gig workers, people with side hustles and those earning money from the likes of Airbnb, Upwork, Uber, Deliveroo and Etsy have been urged to ensure […]
Thousands more nudge letters being sent out by HMRC are causing needless worry to UK taxpayers, and are unnecessary. Robert Salter, an international tax expert at tax and advisory firm, Blick Rothenberg, said: “HMRC have sharply increased the number of ‘nudge letters’ sent to UK taxpayers in the 2022/23 UK tax year, because of international […]
Rosehill Polymers Group has finalised a multi-million-pound deal with Virgin Money and UK Export Finance to complete a refinancing and management buyout of the business and accelerate their worldwide growth ambitions. Since 1988, Rosehill Polymers have established themselves as a market leader in sustainable polymer systems design, development and manufacturing at their state-of-the-art facilities in […]
The Prompt Payment Code (PPC) was introduced to the UK in December 2008 as a voluntary code of practice, administered by the Office of the Small Business Commissioner (OSBC), on behalf of Department for Business and Trade (DBT). As Pat Bermingham, CEO, Adflex explains it set standards for good payment practices between UK-based organisations and their […]
Changes to regulations regarding Capital Gains Tax (CGT) and separating couples could alert people to the fact that they may have failed to pay sufficient tax in the past. New measures to ease difficulties over the transfer of assets experienced by spouses or civil partners who are separating and enable them to split in a […]
Contractors and their clients alike have welcomed the news that HMRC is on the verge of scrapping the controversial ‘double taxation’ of IR35 under the off-payroll working rules – in a positive development for contractors who have had their contracts cancelled as a result of these rules. The legislative flaw sees businesses overtaxed in the […]
The UK’s 4.3m self-employed workers have been advised to prioritise their tax compliance after official HMRC data shows that the tax authority opened 299,000 tax enquiries last year – a 52,000 jump equivalent to 21% compared to two years before. The statistics, gathered from HMRC’s quarterly performance updates, show that the number of tax enquiries […]