HMRC News and Updates

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Updates on changes and new processes from HMRC

The essential changes you need to know about capital gains tax

2020 is seeing a change in how you report and pay capital gains tax to the HMRC. While current capital gains deadlines are declared before the end of one tax year and paid before the end of the following one, new processing times will see 30 days from completion to [...]

By |2020-03-05T16:51:46+00:00March 5th, 2020|HMRC News and Updates|

Is your Business ready for the new Anti-Money Laundering Rules?

New Anti-Money laundering rules have been put in place, are you adhering to them? Do you even know about them? The property and art industries are in for a significant change in the next few months. On January 10th, 2020, expanded regulations on money laundering and terrorist financing went into [...]

By |2020-01-23T11:35:10+00:00January 23rd, 2020|HMRC News and Updates|

The surprising truth about how Research and Development Tax Relief can improve business cashflow

Have you ever thought about how Research and Development Tax Relief can improve business cashflow? If there is one thing that a lot of businesses struggle with today, it is cashflow. This is especially the case for small businesses and start-ups. All it takes is one client to pay you [...]

By |2019-07-30T14:35:11+01:00July 30th, 2019|Financial Strategy, HMRC News and Updates|

The Tax Evasion Penalties All UK Businesses Should Know

Pay the Tax Man: The Tax Evasion Penalties All UK Businesses Should Know Over the last three financial years, UK tax evasion cases have been increasing with 2017/2018 recording 3,809 cases. The last fiscal year saw 40,695 people reporting tax evasion cases via the tax evasion hotline. Consequently, the government [...]

By |2019-06-13T15:31:56+01:00June 13th, 2019|HMRC News and Updates|

What Is the R&D Tax Credit and How Can You Claim?

Do you know if you qualify for the R&D tax credit? This credit facility enables businesses to receive a cash payment or corporation tax deduction from HMRC to assist in production or service development costs. With R&D tax relief, renovating or fuelling your business growth will be quite natural. The [...]

By |2019-06-06T09:54:28+01:00May 30th, 2019|HMRC News and Updates|

How Adhering To Making Tax Digital Can Help Boost Business Success

The time has come for businesses to digitise tax records and returns. Are you ready for your business growth to rocket? HMRC's new Making Tax Digital (MTD) scheme is set to provide a £57 billion payout over five years thanks to increased productivity. The new system is still in the [...]

By |2019-05-23T14:34:36+01:00May 16th, 2019|Financial Strategy, HMRC News and Updates|

What Are The Most Common Accounting Problems In A “Making Tax Digital World” Business Owners Face?

We all suffer from accounting problems from time to time. Recent changes to the way businesses file VAT returns are only the start of a huge overhaul to HMRC's tax filing system. Making Tax Digital could lead to more frequent accounting problems if you don't get a head of the [...]

By |2019-05-16T10:54:38+01:00May 16th, 2019|Financial Strategy, HMRC News and Updates|

12 Questions About Making Tax Digital that Every Business Owner Should Ask

Avoidable tax filing errors cost the Government an estimated £9 billion a year. To counter these easily-avoided errors, HMRC are introducing the Making Tax Digital (MTD) scheme. The MTD regulations will mean that, eventually, most businesses in the UK will need to keep digital records and submit tax returns via [...]

By |2019-04-18T13:05:01+01:00April 18th, 2019|HMRC News and Updates, Business Support|

7 Ways that Making Tax Digital Helps Your Business Succeed

From 1st April 2019, Making Tax Digital (MTD) came in for VAT Registered businesses turning over £85,000 or more. Businesses that fall into this category must now submit their VAT returns via a MTD approved digital system on a quarterly basis. This means implementing new software, processes, and training your [...]

By |2019-04-11T15:50:02+01:00April 11th, 2019|Financial Strategy, HMRC News and Updates|

Is the government above the law?

If you’ve ever had a phone call with HMRC, you’ll probably already know the whole ‘Voice ID’ process… If not, then here’s a quick breakdown: Similar to iPhone’s and their face recognition, or better still – Siri –, HMRC uses the vibrations of your voice to unlock your details and [...]

By |2019-02-06T09:13:54+00:00February 6th, 2019|HMRC News and Updates|