HMRC urge taxpayers to put their tax returns in ASAP
HMRC have recently launched their annual summer campaign, which urges taxpayers, who complete a Self-Assessment (SA) tax return, to file it early (this of course, assumes that you don’t need any help). HMRC’s announcement this week, encouraged taxpayers to “beat the January rush” and file their SA tax returns early. Myrtle Lloyd, HMRC’s director general […]
UK Tax Questions Answered by Shrewsbury Accountant No. 41
As it has now been four months since I’ve posted a Blog on some of the more interesting and sometimes bizarre questions asked by clients and readers of the Blog, here’s today’s selection: Why can’t I claim my VAT back? Do I have to charge VAT on my yacht? Is my bra tax deductible? Is […]
Has HMRC turned into Big Brother?
At budget time last year, I expressed my worry that HMRC would try to obtain even more data from employers, businesses, and individuals and with their latest announcement, and unfortunately, I have been proven right. Read the blog here This week they have announced new requirements for reporting working hours, shareholdings and dividends relating to […]
Stooge directors cost HMRC £Millions
The use of mini-umbrella companies (MUC) to employ contractors or temporary workers has been a well-used scheme over the years and has resulted in the individuals concerned, avoiding considerable amounts of Income Tax and NIC. This is a subject that I’ve covered in the past, most recently in May 2021, following the publication of a […]
Alcohol Duty Changes: How will this affect price of a pint?
On August 1st, in just a couple of weeks’ time, the method by which the duty on alcohol is applied will drastically alter, with the changes resulting in the biggest reform of alcohol duties for nearly 150 years. The UK government is introducing a new, simplified alcohol duty system founded on the principle of taxing […]
National Minimum Wage Common Errors
On the 28th of June 2023, the Department for Business and Trade (DBT), based on HMRC data, published a list of 202 companies that had failed to pay their employees the national minimum wage, as part of their ‘name & shame’ campaign. The list included several major companies, including Argos, Marks & Spencer and WH […]
Oh no, not again! The interest rate rises to 5%
A week ago, Bank of England (BofE) Governor Andrew Bailey announced that The Bank had decided to increase the base rate by a half percent to an eyewatering 5%, the 13th consecutive time it had raised rates in the last eighteen months. The monetary policy committee (MPC) of the BofE voted by a majority of […]
HMRC on strike!
HMRC staff are the latest group of workers to join what has been dubbed in the press as a “Summer of Strikes”, with nearly 500 HMRC service advisers based in the tax authority’s Newcastle and East Kilbride offices spending a large part of May and early June striking. The tax office staff have cited pay, […]
HMRC has closed its self-assessment helpline
On 12th June HMRC arbitrarily closed its self-assessment helpline with only 48 hours’ notice and has stated that it will remain closed for at least three months. Why is HMRC closing their self-assessment helpline? Apparently, it is trialling a seasonal model for assisting the public with their tax queries and is redirecting all such enquiries […]
HMRC effectively fine themselves in IR35 crackdown
Our wonderful shadowy army of tax officials have truly excelled themselves this time by issuing over £300 million in IR35 penalties to other government departments, thus effectively fining themselves. This came to light when a government body, UK Research & Innovation (UKRI), disclosed in its annual report for 2021/22, that it had been fined £36m […]
