06Feb
HMRC repeats the same mistake
Tribunal unimpressed with HMRC bringing a case concerning input tax recovery on tax advisory costs nearly identical in facts to a case it lost three years ago. In the recent […]
Blog
04Feb
HMRC issued more than 4,300 winding up orders in 2018-19
HM Revenue & Customs filed 4,308 winding up petitions in the year to September 2019, an increase of 6% from the previous year. HMRC uses these petitions to chase outstanding […]
29Jan
Pension contributions: what you need to declare on your tax return
If you are in the process of completing your 2018-2019 self-assessment tax return over the next few days (deadline Friday 31 January), don’t forget to declare your pension contributions. Taxpayers [...]
23Jan
Increase in Inheritance Tax investigations
Around one in four taxable estates face investigations over their inheritance (IHT) payments as HMRC increases anti-avoidance activity. Over 5,000 IHT investigations were opened by HMRC in the 2018/19 tax [...]
21Jan
Act now before the Entrepreneurs’ Relief disappears
With the Budget scheduled to take place on Wednesday 11 March, business owners who have considered selling their business should be aware that Entrepreneur’s Relief is reportedly under threat. The [...]
20Jan
The deadline for Pre-Brexit EU VAT Refund Claims is 31 January 2020
As we know, the UK is set to leave the European Union on 31 January 2020. This will have an impact on EU VAT refund claims. The HMRC website advises [...]
16Jan
Is your business exit ready? 5-point guide
If you're considering a sale in the short to medium term, the following five key areas are worth considering now to ensure an easy process and the maximum price for [...]
15Jan
Fines issued by HMRC surge in value by nearly a third in the past three years
In 2018/19 HMRC issued penalties of £816m, an increase from £620m in 2015/16 according to official data. This represents an increase of nearly 32% in three years! This is a [...]
08Jan
New PAYE/NIC cap for companies claiming R&D tax credits
HMRC have introduced a PAYE/NIC cap to repayable R&D tax credit claims made by SME’s for accounting periods starting after 1 April 2020. This cap will restrict qualifying R&D expenditure […]
23Dec
Government makes changes to Disguised Remuneration Loan Charge
As reported previously, the loan charge, which came into effect on 6 April applied to anyone who used disguised remuneration schemes. The legislation added a 45% non-refundable charge on all […]
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