In preparation for tomorrow’s (3rd March) Spring Budget, the House of Commons Treasury Select Committee has published a report that recommends a short-term corporation tax rise, rather than personal tax […]
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 […]
