Tax

9
Apr

Business support packages for Covid-19

  Chancellor’s business support packages for coronavirus pandemic On 17 March, Chancellor Rishi Sunak unveiled a £330 billion worth of business support packages for the UK economy as it combats the COVID-19 pandemic. The measures dwarf the £12 billion made available in the 2020 Budget. The package includes an increase in government-backed loans, higher cash grants, widened business rates relief

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6
Mar

IFS calls to raise taxes in upcoming Budget

  IFS calls to raise taxes in upcoming Budget The IFS calls to raise taxes in upcoming Budget. The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the forthcoming Budget to raise taxes. The think tank stated that the Chancellor either needs to raise taxes or ‘break a fiscal rule’ in order to avoid day-to-day spending

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13
Jan

Current list of deliberate tax defaulters

Current list of deliberate tax defaulters HMRC publishes current list of deliberate tax defaulters, those people who have received penalties either for: deliberate errors in their tax returns or deliberately failing to comply with their tax obligations. Internet link: GOV.UK deliberate defaulters   ROBINSONS LONDON ACCOUNTANTS – ACCOUNTING DONE DIFFERENTLY At Robinsons we work hard to understand, communicate, interact, engage and, above

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13
Jan

Self assessment deadline approaching

Self assessment deadline approaching The deadline for submitting your 2018/19 self assessment return is 31 January 2020. The deadline applies to taxpayers who need to complete a tax return and make direct payments to HMRC in respect of their income tax, Classes 2 and 4 National Insurance Contributions (NIC), capital gains tax and High Income Child Benefit Charge liabilities. There

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10
Dec

Employer guidance from HMRC

  Employer guidance from HMRC HMRC has issued Employer guidance in the latest Employer Bulletin. This issue includes articles on a number of areas including: guidance for employers on reporting PAYE information in real time when payments are made early at Christmas electronic payment deadline falls on a weekend Ultra Low Emission Vehicle High Income Child Benefit Charge deadline 31

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10
Dec

HMRC crypto guidance published

  HMRC crypto guidance HMRC has published crypto guidance for people who hold cryptoassets, typically cryptocurrency or Bitcoin, explaining what taxes they may need to pay and what records they need to keep. HMRC has also published further information for businesses and companies about the tax treatment of cryptoasset transactions. HMRC advises that these papers set out HMRC’s view of

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10
Dec

Check employment status for tax tool update

  Check employment status for tax tool update HMRC has issued an update to the Check employment status tool (CEST) in advance of the introduction of new tax rules proposed for individuals who provide their personal services via an ‘intermediary’ to a medium or large business. The tool is designed to give HMRC’s view of the status of contracts and

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10
Dec

Tax scams: Self Assessment avoidance tips (HMRC)

  Tax scams: HMRC offers tips on avoiding Self Assessment scams HMRC is giving information to taxpayers to help them avoid scams ahead of the Self Assessment deadline. HMRC is warning millions of Self Assessment taxpayers to be aware of fraudsters in the run up to the 31 January deadline. Over the last year, HMRC received almost 900,000 reports from

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10
Dec

Employee gifts: Making sure they are tax-free

  Employee gifts: Making sure they are tax-free Employee gifts… Some employers may wish to give a small gift to their employees. As long as the employer meets the relevant conditions, no tax charge will arise on the employee. A tax exemption is available which should help employers ensure that the benefits provided are exempt and do not result in

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5
Nov

HMRC countdown to file your tax return

HMRC countdown to file your tax return With less than 100 days until the self assessment tax return deadline of 31 January 2020, it’s the HMRC countdown to file your tax return. HMRC is urging taxpayers to complete their tax returns early, in order to avoid the last minute rush. HMRC report that last year more than 2,000 people submitted

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