This tag is associated with 17 posts

Are you prepared for digital tax returns?

Are you prepared for digital tax returns? As a business owner, you may be aware that as from this month, HMRC will begin to make changes which will eventually see all businesses supplied with a completely digital tax account.  By next year, it is envisaged that around five million businesses will have made the switch […]

Changes to tax relief for travel and subsistence claims for contractors

Changes to tax relief for travel and subsistence claims for contractors In August 2014 the government outlined plans in its Autumn Statement to change the way in which it allowed tax relief on certain travel and subsistence expenses to be applied. A consultation document was subsequently published for the Summer Budget in 2015, which gave […]

IR35 – HMRC’s Latest Risk Assessment Tests

IR35 – HMRC’s latest Risk Assessment Tests HMRC has now unveiled its latest attempt to provide more clarity over IR35 and a number of internet sites are already portraying the new risk assessment tests as an updated indicator of whether or not a contractor is likely to be subject to IR35. This is not the […]

Budget 2012

Budget 2012 The Chancellor of the Exchequer George Osborne presented his Budget for 2012 to Parliament on 21 March 2012. Headline summaries of the main announcements which affect businesses and individuals and listed below (source HMRC website Income tax rates and Allowances 2012-13 and 2013-14 As announced at Budget 2011, the income tax allowance […]

Employment Taxes updates – October 2011

Employment Taxes updates – October 2011 –      Two First Tier Tribunal cases on employment tax status –      A reversal for Total People Ltd in the Upper Tribunal (lnvolving NIC refunds on car allowances) –      New HMRC guidance on visits to the UK where employees are seconded on full time contract abroad lan Mitchell v HMRC […]

Time is running out on the tax amnesty for plumbers, gas fitters and heating engineers

The clock is ticking on a Tax Amnesty offered by HM Revenue & Customs (HMRC) to plumbers, gas fitters and heating engineers who have previously not reported all of their trading receipts. Plumbers and heating engineers were offered a special plan with set penalties to put right their tax affairs this March, which expired at […]

Over 3 Million Could Get Tax Rebates

As HM Revenue and Customs reconcile their books, millions of tax payers could be in line for refunds. HMRC will soon send out approximately 3.5 million letters telling people that they have paid too much tax, those taxpayers could get a rebate of about £340  this year.  Another 1.2 million people will be informed that […]

Are you ready to file your Employer Annual Return online?

Are you ready to file your Employer Annual Return online? Almost all employers must now file their Employer Annual Return (P35 and P14s) online. Employers with 50 or more employees are already required to file their employee in year forms (P45, P46, P46 (Pen) and P46 (Expat)) online too. If you’re a smaller employer with […]

Incorrect Tax Codes….

The PAYE System Is your Tax Code Correct? Around this time of the year HM Revenue & Customs start working out PAYE tax codes for 2011/12 and issuing them to individuals. Based on HMRC’s recent poor accuracy record, nearly a third of these tax codes will be incorrect. To ensure that yours is not one […]

Self Assessment – HMRC Mistakes

SELF ASSESSMENT Do you know your tax return rights? It’s been a busy couple of years for the Taxman overhauling the time limits and the penalty system. But do you know where you stand under these new rules if he makes a mistake processing your tax return? No-one can have missed all of the recent […]