HM Revenue & Customs (HMRC) has announced the launch of a new ‘profit diversion compliance facility’ designed to encourage Multinational Enterprises (MNEs) to disclose mistakes and/or non-compliance related to profits […]
The aim of the Patent Box is to provide an additional incentive (in the form of reduced corporation tax) for companies to retain and commercialise existing patents and to develop […]
Magma are pleased to announce that Matt Norris has joined their Rugby office as Manager within the Audit team. Matt, a Chartered Accountant, brings with him significant experience, based on […]
Cryptoassets are a relatively new type of much talked about asset. This sector is fast-moving and developing all the time. The CATF (Cryptoasset Taskforce) have currently identified three types of […]
Around 1.4 million businesses in the UK employed members of staff in 2018, and all of them shared one thing in common: the legal requirement to run payroll. This task […]
In a personal or family company, the lines between the directors as individuals and the company are often blurred – the director may lend money to the company when cashflow […]
HMRC has recently issued Revenue & Customs Brief 13 (2018), explaining their new policy on VAT treatment of retained payments and deposits. This may be relevant to companies and businesses […]
The deadline for submission of online self-assessment tax returns is 31 January 2019. If you send your return late, you will receive a £100 penalty – even if you have […]
HMRC has issued advice on customs, excise and VAT if the UK leaves the EU without a deal on 29 March. Aimed at VAT-registered businesses that trade with the EU, […]
A recent report by the House of Lords Economic Affairs Committee warned that the increased powers given to HMRC to tackle tax avoidance and evasion are undermining the rule of […]
