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The Finance Bill is back and little has changed - October 10, 2017


Earlier this year the Government announced that a number of the controversial provisions within its Finance Bill would be dropped ahead of June’s snap general election to ensure an easy passage to Royal Assent. Making Tax Digital and a number of other flagship proposals were subsequently left by the wayside, creating a great deal of […more]

Inaugural Autumn Budget date announced - October 10, 2017

inaugural-autumn budget

The Chancellor, Philip Hammond, has announced that the first Autumn Budget to take place since the set-piece statement’s move to the end of the year will be on Wednesday 22 November 2017. Mr Hammond announced at the Autumn Statement in 2016 that there would no longer be two major fiscal statements each year. This means […more]

Self-employed workers may miss out on mortgages due to changes in delivery of SA302 forms - September 15, 2017


Self-employed workers in the UK have reported their struggles to acquire a mortgage, after HM Revenue & Customs (HMRC) changed the way it issues details of tax calculations and tax year overviews for submission with mortgage applications. Until recently accountants and workers themselves have been able to obtain a paper copy of form SA302 that […more]

Revenue’s crackdown on VAT evaders yields £3.4 billion from small and medium firms - September 15, 2017


New analysis of HM Revenue & Customs’ (HMRC’s) data has revealed that the department collected an additional £3.4 billion from small and medium-sized businesses in the tax year to April 2017. Investigations in the 2016/17 tax year by HMRC’s compliance department saw 49 per cent of the additional revenue collected come from VAT investigations into […more]

HMRC launches new online forum to give small business owners direct tax advice - September 15, 2017


A new online forum has been launched by HM Revenue & Customs (HMRC) which has been designed to help company owners resolve simple issues related to starting and growing a company. The new website provides a message board, discussions and a webchat where business owners can query HMRC’s tax experts in real time. Categories listed […more]

Taxpayers begin to receive simple assessment requests (PA302) - September 15, 2017


Taxpayers across the UK will have begun to receive a simple assessment (form PA302) from HM Revenue & Customs (HMRC), which will ask for payment of tax that cannot be coded out under PAYE. A simple assessment is a tax assessment made by HMRC, which was launched with the aim of taking taxpayers out of […more]

HMRC dynamic coding causes issues for taxpayers - September 15, 2017


From July this year, HM Revenue & Customs (HMRC) has been utilising its new system of dynamic coding, which allows for in-year adjustments (IYAs) of a person’s tax code. Under the new regime, codes can be adjusted by the Revenue to reflect sudden changes in an employee’s circumstances as soon as HMRC becomes aware of […more]

Government begins to play its hand at the Brexit negotiation table - September 15, 2017


The Government has begun to publish a number of position papers which aim to set out how it intends to negotiate with the EU during the Brexit process. The proposals, released at the end of August, set out how the trade in goods and services between the European market and the UK should continue once […more]

HMRC given an extra £5.3 million to enforce minimum wage compliance - August 15, 2017


According to the Government’s latest Labour Market Enforcement Strategy report HM Revenue & Customs (HMRC) is to receive an additional £5.3 million of funding in 2017/18 to ensure businesses are paying employees the national minimum wage (NMW) and national living wage (NLW). This follows on from a previous increase of £20 million in 2016, which […more]

Credit and debit card charges to be banned as cashless economy grows - August 15, 2017


From January next year businesses across the UK need to ensure that consumers are no longer being charged extra for paying by debit or credit card, according to new legislation from the Government. It is thought that in 2010 alone customers spent £473 million on charges from card payments, which is why the Treasury has […more]

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