| 19-06-2023
The Insolvency Service has successfully secured the winding-up of 11 companies for their part in a scheme which orchestrated systematic fraud against UK taxpayers during the covid-19 pandemic.
| 06-06-2023
The VAT exemption for pharmacists has been extended to medical services carried out by supervised, non-registered staff as of 1 May. Prior to the measure, the exemption only applied to medical services carried out by registered health professionals. The new zero-rating rules now mean that all staff can provide their
| 06-06-2023
The Institute of Chartered Accountants for England and Wales (ICAEW) is urging HMRC to rethink the quarterly reporting model for Making Tax Digital for income tax self-assessment (MTD for ITSA).
| 06-06-2023
Recent HMRC data shows that the Treasury collected £786.6 billion in taxes in 2022/23 – a 9.9% increase on last year's total of £715.3bn. Receipts from income tax, capital gains tax and National Insurance contributions hit £47bn – accounting for over half (57%) of the total tax take.
| 31-05-2023
The Health and Safety Executive (HSE) has updated its guidance on managing health and safety for employers. Employers are responsible for managing health and safety in their business. This includes managing risks and taking practical steps to protect workers and others from harm.
| 31-05-2023
Or maybe increased the number of customers, reduced expenses or even decreased prices? Do you know the effect of these changes to your bottom line? Successful businesses right now have one thing in common – they are prepared to make fast changes to their plans!
| 31-05-2023
Listed below are a number of live HMRC webinars that will help employers with payroll. The webinars are free and last around an hour:
| 24-05-2023
The Bank of England Monetary Policy Committee announced on 11 May 2023 that it would increase the Bank of England base rate to 4.5% from 4.25%. HMRC interest rates are linked to the Bank of England base rate. As a consequence of the change in the base rate, HMRC interest rates for late
| 24-05-2023
From Monday 22 May 2023, HMRC will close the VAT registration helpline – a subsidiary of the VAT helpline – which is dedicated specifically to helping customers who have a concern around their VAT registration application. Advisers from this helpline will be redeployed to spend their time processing VAT registration
| 24-05-2023
Each month, the Office for National Statistics (ONS) publishes the latest annual inflation rate, which measures the change in the price of regularly purchased items (known as the basket of goods and services) compared with the same time the previous year.
| 17-05-2023
Mental Health Awareness Week is an annual event where the whole of the UK comes together to focus on achieving good mental health. The week aims to tackle stigma and enable people to understand and prioritise mental health. This year’s Mental Health Awareness Week takes place from 15 May to
| 17-05-2023
From Monday 15 May 2023, unless you are already using Making Tax Digital (MTD) compatible software, you will no longer be able to use your existing VAT online account to file manual VAT returns. That is because by law, all VAT-registered businesses must now use Making Tax Digital (MTD) compatible
| 15-05-2023
The High Income Child Benefit Charge (HICBC) was introduced in 2013 and was set up to charge tax on individuals claiming child benefits who were earning a yearly income in excess of £50,000.
| 15-05-2023
Residential landlords are the latest group to have been targeted in receiving ‘nudge’ letters from HM Revenue & Customs (HMRC). The letters are part of a targeted ‘nudge’ campaign from HMRC to remind landlords of their obligation to declare their full rental income.
| 15-05-2023
The Residence Nil Band Rate (RNRB) was introduced by the Government in 2017 and benefits families passing on their main property to a direct descendent. Since its introduction, millions of families around the UK have benefitted from its ability to minimise Inheritance Tax (IHT) bills.
| 15-05-2023
Changes to personal tax allowances and higher interest rates have seen a growing number of people being affected by fiscal drag. Fiscal drag is the phenomenon where taxpayers are pushed into higher tax brackets due to wage increases as they keep pace with inflation. With the UK Government freezing most
| 15-05-2023
The way in which Student Loans are repaid is changing and employers need to be prepared. Currently, graduates and students who have taken out student loans are required to repay their loan when they earn an annual salary of £27,295 or more, with repayments at a rate of nine per
| 15-05-2023
Self-Assessment customers, who are starting to think about their annual tax returns for the 2022 to 2023 tax year, should guard against being targeted by fraudsters, warns HMRC.