Four year backlog for big businesses’ tax affairs
45 months is now the average amount of time, that HMRC’s enquiries into big businesses’ tax affairs have now been open. The delays, which have increased from 43 months in […]
45 months is now the average amount of time, that HMRC’s enquiries into big businesses’ tax affairs have now been open. The delays, which have increased from 43 months in […]
HMRC are cracking down on wrongful and fraudulent Research & Development (R&D) tax relief claims – here’s what you need to know. Background In the midst of vaccine rollouts and […]
The tax perks for electric vehicles (EV) are outstanding, especially for business owners. For business owners who drive a car and pay higher rate personal tax, electric company cars may […]
Five years ago, Magma were one of the first to recognise that eligible claims for Multiple Dwellings Relief (MDR) were being missed by property purchasers across the board. Since then, […]
What is it? Phase 2 of HMRC’s Making Tax Digital (MTD) programme will soon be with us. The initiative is fundamentally changing UK tax reporting systems and processes for businesses […]
Magma Chartered Accountants recently took the highly unusual step of appealing HMRC’s refusal to provide a tax clearance to the First Tier Tax Tribunal. That decision was however vindicated and […]
HMRC has updated guidance on how to register for the online service to pay VAT payments deferred between 20th March and 30th June 2020 due to the covid-19 pandemic. Last […]
Legislation will be introduced to extend the 100% first year (capital) allowances (FYAs) for low CO2 emission cars, zero-emission goods vehicles and equipment for gas refuelling stations by 4 years […]
HM Revenue & Customs (HMRC) has recently confirmed that the annual parties exemption in ITEPA 2003 s 264 can apply equally to virtual parties, such that the cost of providing […]
Sudhir Power, an India-based power generation specialist and manufacturer, has acquired UK access equipment specialist rental company Star Platforms. Founded in 1973, Sudhir Group already has rental operations in India, […]