News

Revenue tests new trigger to increase the accuracy of PAYE codes - June 3, 2019
News Article

HM Revenue & Customs (HMRC) is trialling a new trigger, which is intended to improve the accuracy of employees’ PAYE tax codes. According to HMRC, as many as half a million tax codes being used…Read more

New code launched to help protect victims of sophisticated banking fraud - June 3, 2019
News Article

A new code has been launched by 17 UK banks to protect customers who fall victim to a sophisticated form of fraud known as Authorised Push Payment (APP) scams. APP scams involve tricking people into…Read more

EIS and SEIS tax relief funding passes £2.1 billion - June 3, 2019
News Article

A rise over the course of the 2017-18 tax year saw funding for the Enterprise Investment Scheme (EIS) and Seed Enterprise Investment Scheme (SEIS) tax reliefs pass the £2.1 billion mark. The EIS scheme saw…Read more

Significant lack of awareness around gifting rules for IHT - June 3, 2019
News Article

A new report published by the National Centre for Social Research (NatCen) and the Institute for Fiscal Studies (IFS) has revealed a worrying lack of awareness about the Inheritance Tax (IHT) benefits of making a…Read more

MTD for VAT – relaxation on posting supplier statements - June 3, 2019
News Article

HM Revenue & Customs (HMRC) has updated its VAT notice regarding Making Tax Digital (MTD) for VAT to relax several of the digital recordkeeping requirements. One of the changes, secured with the help of the…Read more

Government confirms that HMRC will get a higher priority when firms go bust - June 3, 2019
News Article

From April next year, HM Revenue & Customs (HMRC) will rank third just after secured creditors, such as banks, and insolvency practitioners in order to recover additional outstanding tax from failing businesses. Currently, HMRC is…Read more

Registering for Making Tax Digital for VAT takes seven days, warns HM Revenue & Customs - May 1, 2019
News Article

HM Revenue & Customs (HMRC) has warned businesses across the UK that the registration process for Making Tax Digital (MTD) for VAT takes seven working days. This means that VAT-registered businesses turning over £85,000 or…Read more

IR35: off-payroll working rules set to change next year - May 1, 2019
News Article

HM Revenue & Customs (HMRC) has published new guidance on the expansion of the IR35 requirements to contractors working in the private sector. IR35 governs the tax status of people working through personal service companies…Read more

Additional year to prepare for Making Tax Digital for taxes other than VAT - May 1, 2019
News Article

The Chancellor’s Spring Statement contained an important nugget of information for businesses that had been wondering when they will need to be ready for Making Tax Digital (MTD) for taxes other than VAT. Until recently,…Read more

Employers must comply with new payslip rules - May 1, 2019
News Article

Under the Government’s Good Work Plan, more than 300,000 workers have received a payslip for the first time under new rules that came into force in April. However, experts fear that many employers may be…Read more