MTD for VAT – relaxation on posting supplier statements
HM Revenue & Customs (HMRC) has updated its VAT notice regarding Making Tax Digital (MTD) for VAT to relax several of the digital recordkeeping requirements.
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What happens if I have been selected for a tax investigation?
At this time of year, we send out invitations to our clients, to take up or renew Tax Enquiry Protection. Being subjected to a tax investigation can be a very stressful experience. It is important to tread carefully and follow the correct steps.
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Significant lack of awareness around gifting rules for IHT
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 gift.
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EIS and SEIS tax relief funding passes £2.1 billion
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.
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Government confirms that HMRC will get a higher priority when firms go bust
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.
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New code launched to help protect victims of sophisticated banking fraud
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 making…
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Revenue tests new trigger to increase the accuracy of PAYE codes
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 by…
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The information in this newswire is believed to be correct at the time of circulation. It is essential to take advice on specific issues.