Recent statistics published by HM Revenue & Customs (HMRC) show that the number of employee share schemes hit a record high in the UK in 2016-17. Andrew Wilson, Partner said: ‘Employee share schemes allow employers to grant share options to key employee’s tax efficiently, as a reward for their efforts within the business and/or to […]
Following changes to the rules on accessing pensions, the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) are looking to raise awareness of pension scams. The FCA and TPR have launched a new ScamSmart advertising campaign targeting pension holders aged 45-65, the group most at risk of pension scams. A YouGov poll found that […]
Box 8 on a VAT return should only record the sale of goods to EU countries. It is a common error to include the supply of services. However, all goods and services supplied to VAT-registered customers in another EU country must be reported using an EC Sales List. If you’re a VAT-registered business in the […]
Millions of married couples and civil partners in the UK are eligible for the marriage allowance, but take-up has remained subdued since the tax break came into force on 6 April 2015. Make a claim now for 2018/19, and also backdate if eligible. Please click here to read our article. .
The government is giving consideration to the introduction of tax incentives for landlords who offer longer tenancies as part of a new consultation. The Ministry of Housing, Communities and Local Government has launched a consultation on implementing a three-year tenancy model. This is seen as a way of supporting the increasing number of private tenants […]
HM Revenue & Customs (HMRC) wasted no time in notifying its intention to raise the rates of late payment interest, following the announcement of the rise in the Bank of England base rate to 0.75% last week. HMRC has not yet published details of the increase, but has confirmed that the change will come into effect […]
HMRC has rolled out its tough new strategy on offshore tax compliance. The ‘requirement to correct’ (RTC) imposes a legal requirement on taxpayers to disclose previously undeclared offshore matters; the deadline is 30 September 2018. HMRC’s Wealth units are writing letters to all taxpayers within their units to advise them of this new requirement, with […]
Excitement is in the air today at Magma, as the Leicester team move into their wonderful new offices at Charnwood Edge Business Park. It’s been a long time coming, but we are pleased to finally move in! Exciting times …
