HRMC has issued an order to seize £26.5m worth of cash allegedly obtained fraudulently through the furlough scheme from ‘non-existent’ businesses run by an ‘entrepreneur’. On Monday, Cardiff Magistrates Court District Judge Shoman Khan granted HMRC a forfeiture order over five Nationwide building society accounts. Judge Khan described the amounts involved in the case as […]
Category Archives: HMRC
23
Sep
Sep
MTD for pensioners whose pension is more than £10,000 Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital – MTD in Part 1 to […]
23
Sep
Sep
MTD for an Employee with more than £10,000 untaxed income Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital – MTD in Part 1 […]
23
Sep
Sep
MTD for Small Companies Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital – MTD in Part 1 to 4, this is Part 5 […]
23
Sep
Sep
MTD for self-employed Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital – MTD in Part 1 to 3, this is Part 4 of […]
23
Sep
Sep
VAT Record-Keeping and MTD Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Now that we know the meaning of understanding Making Tax Digital – MTD in Part 1, and Part 2, this is Part […]
23
Sep
Sep
Understanding ‘Making Tax Digital’ Making Tax Digital for Business is a Government initiative also known as MTD. This is a legal requirement implemented and monitored by HMRC – Her Majesty’s Revenue and Customs. Key compliance Keep records digital Submit the return at least every 3 months Final submission 10 months after year-end or 31 January […]
06
Jan
Jan
We have now entered into the 3rd Lockdown and the Government has acknowledged the impact by announcing new Financial Aid via different schemes. The nature of this support to businesses is implemented in many different ways. 1 Self Employment and Universal Credit This financial support package helps with living costs. You can get it if […]
13
Aug
Aug
Covid-19 related fraud is reportedly on the rise, with employers putting pressure on employees to continue to work when on furlough or businesses obtaining rates grants when not meeting the relevant conditions. HMRC is seeking to regulate its powers to deter deliberately incorrect claims through penalties and recover funds through self-assessment. It is expected that […]
07
Apr
Apr
We have now received further explanation from HM Revenue & Customs regarding the 80% Job Retention Scheme eligibility. This is the most detailed clarification to date. Though it’s far from Yes or No, this is the best we could expect in the current circumstances. Who is eligible? director of a company already on payroll with […]