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 […]
Tag Archives: hmrc
31
Jan
Jan
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 […]
13
Sep
Sep
From this September, HMRC have made requirement for all business using online tax accounts to register for a 2 step verification. The aim of this is to provide user with greater security and safer online security. If you are not already using it, when you log into your tax accounts it will ask you […]
08
Sep
Sep
Are you a parent? Are you receiving child benefits, child tax credits? Is your child 16+? If the answer is yes then 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 […]
08
Sep
Sep
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 […]
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 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 […]
06
Mar
Mar
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 […]