VAT application form and calculator
Tax Saving Accountants

No New Tax for Online Sales

The treasury have revealed that a potential online sales tax will not go ahead. This tax was designed as a way to lessen the advantage online businesses have over brick-and-mortar ones. Online businesses tend to have fewer overheads than traditional ones, which can lead to lower prices and more new companies starting up. The value […]

Tax Saving Accountants

HMRC to Introduce Single Compliance Process for SMEs

HM Revenue and Customs has announced plans to make things easier for SMEs by introducing a new Single Compliance System. It is hoped that this will produce a faster, more consistently high-quality enquiry process. It is also intended to ensure that individual enquiries are more appropriate to the cases they address. A trial of the […]

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Tax Saving Accountants

OTS Calls for Employee Benefits Tax Overhaul

The employee benefits tax and administration system is “ripe for a complete overhaul” according to the Office of Tax Simplification. In a recent report, the OTS identified four areas of major concern, and recommended a full overhaul of the entire system. The report was produced as part of a review the OTS is currently conducting […]

Tax Saving Accountants

HMRC Wins £88 Million in Avoidance Case

A recent tax tribunal case has awarded the HMRC after a scheme that aimed to avoid tax on loan note profits was brought down. A judgement claimed that the Treasury could near nearly £88 million. The scheme in question involved a company known as Vocalspruce, which was promoted by PricewaterhouseCoopers, and involved the using of […]

hmrc negligence
Tax Saving Accountants

HMRC and EDF Energy Awarded Top Honours for Equality and Inclusion

HMRC and EDF Energy were awarded for their policies on inclusion and equality on the 17th July. These two organizations were given top honours for working in the public and private sector and maintaining high levels of equality and inclusion. The housing association Amicus Horizon was also named the small employer of the year at […]

Best Pay Frequency For Your Business
Tax Saving Accountants

Quarry Firms Requested to Pay HMRC Pending Appeals

A number of Scottish quarry firms who have been withholding disputed tax, which accounts to around £10 million, have been asked to pay up or face their assets being seized. This comes as a result of a ruling in a Court of Session. The firms in question have banded together and formed the British Aggregates […]

Importance of Good Credit Control for Small Businesses
Tax Saving Accountants

Treasury Announces Net £1 billion in 2013 Dodging

Whilst the Tax Office held its conference on tax avoidance, the Treasury announces how much has been lost in tax avoidance this year alone. The Tax Office has safeguarded revenue of more than £1 billion this year thanks to the tackling of corporate tax avoidance. David Gauke, the Exchequer Secretary to the Treasury, announced the […]

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Tax Saving Accountants

Small and Start-Up Businesses are Missing out on Jobs Tax

Just this month, it has been discovered that start-up companies are missing the chance to claim back thousands of pounds of tax that were paid unnecessarily. Accountant David Bennett, who is at tax partner at the Moore and Smalley Charted Accountants, has recently said that many businesses that started between June 2010 and up to […]

VAT application form and calculator
Tax Saving Accountants

HMRC Admit Self-Employed Tax Mistakes

There’s nothing worse than receiving a letter from HMRC when you know full well that you’ve completed your tax forms correctly. HMRC has admitted recently that problems have arisen, which they are now dealing with. The problems were largely associated with the Schedule 36 Notice, which should be issued when an informal request is not […]

Tax Saving Accountants

Further Assistance on HMRC Rebate Tax Treatment

It was in March this year that HMRC announced that income tax would be levied on rebates starting from April. This initially sparked debate over the issue, with many demanding to have clean share classes from the fund managers. Since those calls, HMRC is now providing further assistance and guidance on the matter so that […]

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