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Category: <span>HMRC notices</span>

Changes to the Construction Industry Scheme

Finance Bill 2023-24, which is currently making its way through Parliament, includes a clause that will change the Construction Industry Scheme (CIS) Gross Payment Status Tests from 6th April 2024. Having Gross Payment Status means that a subcontractor can receive gross payments from contractors, as opposed to payments that have…

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Tax Update February 2024

Welcome to our February Tax Update In this edition we take a look at year-end tax planning, ISAs, pensions, CGT, more R&D changes on the horizon and paying your personal tax bill. YEAR-END TAX PLANNING It’s not too late to undertake some end-of-year tax planning. If you have some spare…

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Uncovering Potential Bounce Back Loan Fraud

Government Launches Pilot Program for Bounce Back Loan Scheme. In a bid to tackle potential fraudulent applications under the Bounce Back Loan Scheme (BBLS), the Department for Business (DBT), the Cabinet Office, and HM Revenue & Customs (HMRC) have joined forces to launch a groundbreaking pilot program. This initiative focuses…

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Selling Online and Paying Taxes

Income Tax and Selling Online

In recent weeks there has been a flurry of online activity discussing the new law that will require online marketplaces to report information about income made by their users to HMRC. The discussion has led to many people asking questions such as “Will I have to pay tax on the…

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HMRC Payment Plans

HMRC approve tax bill payment plans for 44,800 taxpayers HM Revenue and Customs have announced that nearly 44,800 people have sorted their upcoming 31st January tax bill by setting up a payment plan. HMRC provide the option of a monthly payment called Time to Pay (see link below). Provided taxpayers…

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Tax Update December 2023

Welcome to the December 2023 Tax Update. In this edition we take a look back at the Chancellor’s Autumn Statement, the Unified R&D Tax Credit Scheme, advisory fuel rates for company cars; and what’s coming up on the ‘Accounting Horizon’. If you need any help or advice on any of…

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Autumn Statement Summary

On 22nd November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament. Headlines included generous National Insurance Contribution (NIC) cuts for workers and the self-employed and the ‘biggest permanent tax cut in modern British history for businesses’. Below, we summarise the Autumn Statement headlines and other measures announced. Please…

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WARNING: Elaborate Scam Letter!

A client recently asked us to check a letter they had received, as they felt it was suspicious. The letter looks as though it has come from HMRC with an urgent request regarding Web Filing Access for Corporation Tax. The letter looks very authentic and a great deal of time…

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Tax-Free Childcare Costs

HM Revenue and Customs (HMRC) is reminding working families to give their childcare budget a boost by opening a Tax-Free Childcare account. Parents can use Tax-Free Childcare to help with childcare costs for school holiday clubs, breakfast or after school clubs, childminders or nurseries. You can get up to £500 every 3…

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Beware of Self-Assessment Scams

A Warning from HMRC The HM Revenue & Customs (HMRC) is alerting Self-Assessment customers to be vigilant against scam texts, emails and phone calls from fraudsters. As the deadline for submitting Self-Assessment tax returns for the 2022-23 tax year (31st January 2024) approaches, scammers are targeting unsuspecting individuals by posing…

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