Newsletters

July 2018

Making Tax Digital for VAT (MTDfV) is on the horizon. There is now less than a year to prepare for this momentous change in the way VAT registered businesses interact with HMRC. We cover this in our front page article.

May 2018

The question of how to pay family members is perennially important. This area can be the subject of scrutiny by HMRC, and our article covers a recent tax case where the taxpayer made a number of critical errors jeopardising his claim for tax relief on payments made to his son.

Spring 2018

This quarter we look at particular relevance to corporate clients, and covers the correct procedure to be followed when making dividend payments. Highlighting some common errors, the article offers guidance on best practice, and how best to avoid challenge from HMRC.

Winter 2017

This quarter we provide an update on changes to the pensions auto-enrolment regime. This entered a new phase from 1 October, with new employers coming immediately into compliance obligations. Further changes are on the horizon, with increases to minimum contributions due from April 2018. This makes a good time for employers to review their ongoing responsibilities under the regime.

Summer 2017

This quarter we provide a planning perspective to the proposed reduction in the Dividend Allowance from April 2018. Investors with quoted shareholdings can take some action now to reduce the impact of the reduction in this ‘tax-free’ allowance.

Spring 2017

This quarter we consider changes to the VAT Flat Rate Scheme (FRS) which allows small businesses to pay over VAT on all their sales at a flat rate rather than output VAT on sales less input VAT on purchases. The introduction of a new 16.5% higher percentage for ‘limited cost traders’ may mean some businesses should opt out of the FRS.

Winter 2016

This quarter we consider the new Tax-Free Childcare scheme which is to be rolled out to eligible parents during 2017. Childcare providers are being asked to register for the new scheme in advance of the roll out.

Autumn 2016

This quarter we consider the possible implications of Brexit and in particular areas of taxation which may be affected over the coming years.

Summer 2016

This quarter we look at the longer term and a project of the Office of Tax Simplification reviewing the simplification of small company taxation. This may lead to a new type of business structure being made available to small businesses.

Spring 2016

This quarter we look at 'New tax dangers when buying residential property' warns of the extra charges that may arise from April 2016 on certain property transactions. Supplementary rates of Stamp Duty Land Tax or Land and Buildings Transaction Tax may apply to some property purchases in the UK.

Winter 2015

This quarter 'HMRC gone phishing?' warns of the dangers of bogus HMRC emails, texts and websites. We also include links for reporting incidents and viewing examples. With the self assessment deadline approaching it is important to be vigilant as the deadline has previously prompted an increase in phishing activity.

Autumn 2015

This quarter we consider the news stories that implied that it would be 'easy' to get out of paying an automatic £100 minimum penalty for the late filing of a self assessment tax return. HMRC have announced some changes to how they will use their right to send out fixed penalty notices in a fair and proportionate way but self assessment tax returns still need to be submitted on time.

Spring 2015

The Autumn Statement announced changes to the Stamp Duty Land Tax rules for residential property. We consider the implications of the new bands and percentages and the introduction of the Scottish equivalent, Land and Buildings Transaction Tax.

Winter 2014

The newsletter covers a number of topical issues including the introduction of various changes to the PAYE compliance system. It is important to ensure RTI submissions and payment of liabilities, are made on time every time to avoid interest and penalties.

Summer 2014

With Real Time Information PAYE reporting now in force for broadly all employers, we advise on the revised timetable to the introduction of penalties for failing to make returns or pay PAYE liabilities on time. Employers beware, do not get caught out.

Spring 2014

We report that, according to the Government, some companies and employment businesses are using employment intermediaries to disguise the employment of their workers and are treating them as self employed. We outline the proposed changes to the rules.

Winter 2013

What should you do if HMRC contact you directly about your tax affairs? Recently HMRC have adopted this approach in a number of areas. Our advice is to 'Just say no!' and to refer them to us as your advisers, after all that is what we are here for.

Summer 2013

The Government has announced a new scheme for tax free childcare for working families. In our lead article we consider the proposal on offer and the circumstances when the new scheme will be available.

Spring 2013

The end of last year saw HMRC take ‘a new approach to Business Records Checks’ and our article ‘ BRC are now up and running’ explains the latest position and what action to take should you receive a letter.

Winter 2012

Payment Protection Insurance has been covered extensively in the media. However, the matter of tax due on any successful claim seems to have been omitted from the headlines. Our article 'Payment Protection Insurance (PPI)' sets out the tax position.

Autumn 2012

Our article ‘Are you getting credit?’ looks at the tax incentives on offer for research and development carried out by small and medium (SME) UK companies.

Summer 2012

Our article ‘A haven of success’ looks at Business Property Relief, a very important relief for Inheritance Tax purposes but its availability in certain circumstances can be regularly challenged by HMRC.

Spring 2012

Our article ‘PAYE pain’ highlights the need to have a reasonable excuse if you are late paying! On the flip side, HMRC continue to offer ‘Time to Pay Arrangements’ for individuals and businesses.

Winter 2011

Our newsletter includes positive news relating to tax and business. For instance, are you involved in one of the three million unincorporated businesses in the UK?

Autumn 2011

You may or may not be aware that HMRC’s latest tool in tackling tax evasion is to launch various task forces over the next two years to target ‘tax dodgers’ in perceived high risk trade areas.

Summer 2011

From 6 April 2011, anyone with tax irregularities involving offshore affairs could face a penalty of up to 200%. If this is an area of concern for you, it is important to make sure all your affairs are in order as HMRC mean business!