Final chance to declare hidden overseas income

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HMRC are publicising the worldwide disclosure facility asking UK taxpayers to take this final chance to declare previously hidden overseas income, assets and gains.  Making such a declaration could reduce the level of penalties charged on any associated tax bill.  Taxpayers have until 30 September 2018 to make use of the facility.  More details on […]

HMRC issue warnings about fake emails

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HMRC never email tax payers about refunds, penalties or to ask for bank details.  Always be on guard against email scams.  It is wise to hover on links to see the website the link points to before clicking. Please spend a few minutes having a look through the following web pages from HMRC. Published 30.8.16:  […]

HMRC Digital Personal Tax Account

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HMRC have implemented an online personal account that is available to everyone with a National Insurance Number even if you do not submit a personal tax return. This account enables you to check details on the following areas: Check your Income Tax estimate and tax code Fill in, send and view a personal tax return […]

HMRC Making Tax Digital (MTD) Summary and Timeline

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Making Tax Digital (MTD) is HMRC’s strategy to modernise tax administration for taxpayers.  Some highlights from their latest published MTD time-line include: 2016 test digital reporting of accounts by some small businesses testing using the RTI (payroll real time information) system to report back to tax payers how their personal allowances are used 2017 test […]

NEW SERIES – Many ways to grow your business – part 1

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This being the first in the series of “grow your business” ideas – we’ll start with the most obvious business development tip of all time: To increase your sales figure you can: Increase the number of customers Increase the number of times each one does business with you Increase the average value of each transaction […]

HMRC really useful factsheet about penalties

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HMRC have updated their really good factsheet on penalties.  This six page PDF gives a good overview and useful amount of detail relating to penalties for all taxes.  The factsheet is available here.   If you would like detailed specific advice on penalties please contact us.  

More taxpayers win appeals against HMRC penalties

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Two more tax tribunal cases against penalties have gone in favour of the taxpayer this week. In Eastman (TC5276) HMRC had refused to suspend a penalty in apparently one off event.  Suspending a penalty requires the taxpayer to put in place processes that would prevent the error reoccurring, which HMRC said was not possible for […]

Late HMRC appeals can be accepted

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Two recent cases, one for VAT and one for Capital Gains Tax have highlighted the point that tribunals can sometimes allow appeals by taxpayers to be heard after the deadline for appeals.  Of course this is the exception rather than the rule. However if you do have assessments for any kind of taxes from HMRC […]

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