Generally speaking, HMRC will communicate with you by sending a letter or calling you. It will never ask for personal details by email. Accordingly, you can disregard any emails you receive from HMRC that do ask for personal information, particularly bank details, as they will likely be scams… However, HMRC is starting to send out […]
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You can appeal to HMRC against a penalty for: Late filing of a return Paying tax after the due date Failing to pay all the tax you owe Unable to demonstrate that you have kept adequate records to underpin your tax returns Filing an incorrect return Your penalty will be cancelled or amended if you […]
In a major boost for pioneering small businesses, the Financial Secretary to the Treasury, David Gauke, recently launched a new plan outlining how government will make it easier for small businesses investing in research and development to claim tax relief. The two-year plan, which is a response to an HMRC consultation, aims to increase take-up […]
In a major boost for pioneering small businesses, the Financial Secretary to the Treasury, David Gauke, recently launched a new plan outlining how government will make it easier for small businesses investing in research and development to claim tax relief. The two-year plan, which is a response to an HMRC consultation, aims to increase take-up […]
Many owners of VWs will be peeved that they may have been misled if the recent revelations regarding published CO2 levels are confirmed: they will be driving cars that are not as environmentally friendly as they were led to believe. VW have admitted that as many as 1.2m of its vehicles sold in the UK […]
In order to increase tax revenues the Treasury is faced with a conundrum: To increase rates of tax charged and hope that this does not prove to be a disincentive to increase profits and investment, or To decrease rates of tax charged and hope that this proves to be a stimulant to business growth. The […]
There is barely three months left until the deadline for filing Self Assessment returns for 2014-15 passes. After 31 January 2016 automatic late filing penalties will apply. Unfortunately, on the same date, 31 January 2016, you will need to settle any outstanding tax owed for 2014-15 and make a payment on account for 2015-16. Readers […]
There are still reliefs you may be able to claim that will reduce your business rates. The process depends on where you are based: Business rates relief in England You will need to apply for these reliefs at your local council: small business rate relief rural rate relief charitable rate relief enterprise zone relief retail […]
1 November 2015 – Due date for Corporation Tax due for the year ended 31 January 2015. 19 November 2015 – PAYE and NIC deductions due for month ended 5 November 2015. (If you pay your tax electronically the due date is 22 November 2015.) 19 November 2015 – Filing deadline for the CIS300 monthly […]
HMRC have recently published an update to issues that affect pension scheme administrators and individuals who contribute to pension funds. Highlights of some of the issues raised are reproduced below: Annual allowance charges for tax year 2014-15 Administrators are reminded that it is really important that scheme members who have exceeded the pension schemes annual […]