Blog

  • HMRC Simple Assessments to give only 60 days to raise any queries
    15th November 2017

    HMRC Simple Assessments to give only 60 days to raise any queries

    By and large, the system of Self-Assessment works pretty well. Taxpayers and their agents generally understand the rules: you declare the income, capital gains or losses and pay or reclaim the tax due accordingly. If you make a mistake or need to change things there is a known timetable in which to do so and penalties if you are late or make other indiscretions. This is all encompassed in a reasonably generous timetable to collate the information, submit the paperwork and prepare for the tax payments.
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  • VAT on pension schemes – final closure – or is it?
    13th November 2017

    VAT on pension schemes – final closure – or is it?

    VIT44600 to VIT45400 which was issued earlier this month, is anticipated to be the final update on VAT treatment of pension scheme costs. The notice allows the continuation of the existing rules. This means the continued adoption of the VAT treatment outlined in VAT Notice 700/17, but in addition, the option to also use the newer options following PPG.
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  • Why is HMRC looking at football clubs and agency fees on transfer payments?
    7th November 2017

    Why is HMRC looking at football clubs and agency fees on transfer payments?

    The current investigation by the UK tax authorities into the “beautiful game” is possibly the biggest campaign on tax evasion ever pursued by HMRC. It’s reported 180 HMRC officers are working on the case across the UK and liaising with their colleagues in other European tax authorities. This is a very substantial investment of resource by HMRC in one sector.
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  • How can you reduce your accounting fee?
    3rd November 2017

    How can you reduce your accounting fee?

    Having seen many clients over the years, I think that it is fair to say that there are different views on the fees charged by accountants. I am happy to say that the majority of my clients are happy with the charges I make; but this does not happen by accident and a lot comes down to communication.
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  • New Trust and Estate Register from HMRC
    18th October 2017

    New Trust and Estate Register from HMRC

    Sometimes dealing with taxation is akin to being back at school. Apart from the constantly changing legislation (new rules to learn), homework (Tax Returns) to be done, and HMRC acting like the strict schoolmaster who marks your work and punishes anyone who disobeys, we now have a new Register (of attendance) to deal with.
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