by David Jones | May 26, 2022 | Business Regulation
The Give Aid rules are designed to encourage taxpayers to be more generous but are dotted with conditions and potential snags for both charities and donors. So how do you avoid making a mistake? Gift Aid: Basic rules Under the Gift Aid scheme, charities can reclaim...
by David Jones | May 19, 2022 | Business Regulation, Business Start-up, Business Tax, Opinion, Payroll Services, Tax Investigations
Before I go into the detail of this case, I think it helpful if I explain exactly what long-firm fraud is. Action Fraud, the UK’s national reporting centre for fraud, defines long-firm fraud as when dishonest individuals set up what’s an apparently legitimate...
by David Jones | May 12, 2022 | Business Tax, Self Assessment
This week I’m looking at how HMRC changes to the tax basis period will affect self-employed traders and partners in trading partnerships; but I suspect that many of you reading this Blog will not have the foggiest of what the term ‘basis period’ actually means. Basis...
by David Jones | May 5, 2022 | Business Tax, Personal Finance, Self Assessment
Whether it’s a VAT error, income you left off your tax return, self-assessment or something else, it’s essential that any submissions to HMRC are completely accurate. Unfortunately, for most individuals, life is hectic and none of us are perfect, so mistakes can...
by David Jones | Apr 28, 2022 | Payroll Services, Self Assessment
As part of its campaign to close down or at least hamstring tax avoidance schemes, HMRC has named two schemes that it considers particularly abusive. Their main aim is to send a crystal-clear message that it will not tolerate these cynical schemes and their promoters....
by David Jones | Apr 21, 2022 | Business Regulation, Opinion, Payroll Services, Self Assessment, Tax Investigations
As there hasn’t been a lot happening in the world of tax or at HMRC over the last couple of weeks, I thought you might find some of the recent questions asked by clients and readers of the Blog, of interest and hopefully of some help. This week’s selection: Can I...
by David Jones | Apr 14, 2022 | Payroll Services, Personal Finance, Self Assessment, Tax Investigations
HMRC just cannot accept that their interpretation of the rules governing IR35, is not what the law actually says, as has been evidenced by a flurry of court decisions in recent weeks. First, we had Lorraine Kelly, best known for her eponymous programme on ITV...
by David Jones | Apr 8, 2022 | Payroll Services
Today I will set out the details of the changes to National Insurance Contributions announced by Rishi Sunak on 23rd March, which come into force this month: Employers’ class 1 NIC The secondary class 1 NIC rates and thresholds (paid by employers) were not altered in...
by David Jones | Mar 31, 2022 | Business Tax, Opinion, Tax Investigations
If, like me, you’ve read the recent reports on tax debt by the National Audit Office (NAO) and the Public Accounts Committee (PAC), you may have concluded that HMRC has pretty much thrown in the towel on chasing/collecting tax debts. In November 2021, the NAO issued...
by David Jones | Mar 24, 2022 | Business Regulation, Opinion, Self Assessment
Imminent Companies House reforms will significantly improve the battle against economic crime and rich individuals’ ability to hide their (often illegal) assets, but micro and small companies will now have to file a full set of accounts, including a detailed profit...