Tag Archives: hmrc

HMRC Granted New Powers To Crack Down On Covid-19 Related Fraud

HMRC Granted New Powers To Crack Down On Covid-19 Related Fraud

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 […]

Making Tax Digital – Are You Ready?

  Many small business owners are still not aware of Making Tax Digital (MTD). From April 2019, VAT registered businesses with turnover over £85,000 will be required to keep a digital record of their VAT transactions, and submit their VAT returns using Making Tax Digital compliant software. As the MTD deadline approaches, here is what […]

Parents Reminded to Update Children’s Details as Exam Results Are Revealed

Are you a parent? Are you receiving child benefits, child tax credits? Is your child 16+? If the answer is yes than this information will come in useful to you. As result have been released over England, Wales and Northern Ireland you need to inform HM Revenue and customs of your child’s educational status otherwise […]

Death of SA302

HMRC recently announced that from the 4th September they will no longer be issuing paper base copies of the SA302 to their tax payers or agents. The SA302 is effectively HMRC’s version of an individual’s income tax calculation for a respective tax year. It is usually issued by HMRC, upon request, following the submission of […]

Play Your Cards Right

Following the launch of the Card Transaction Campaign last month, HMRC has been writing to businesses, asking them to review the level of income declared on their 2016 tax returns and to make a disclosure of any omitted sales. The letters, issued by the HMRC Campaigns and Projects team, read as follows: Debit and credit […]

Tax Investigation Case Studies

TAX INVESTIGATION CASE STUDIES  Contractor/ Freelancer Clients  VAT – HMRC have been increasing active in the contractor market, particularly where the Flat Rate Scheme is concerned. By the time we’ve dealt with the visit and the questions that arise, you’ll be £750 out of pocket. Or subscribe to the tax investigations service and let us […]

Tax Investigations Update

Not so long ago HMRC’s priorities included improving customer service and ensuring that individuals and businesses were only asked to pay the right amount of tax at the right time. However, we now live in a harsher reality. HMRC’s key objectives have changed and include the target to ‘maximise revenues due’ and ‘to transform tax […]