Are Dividends Still Safe From HMRC After Tribunal?
There were a few jittery moments in the accountancy world when HM Revenue & Customs won a surprise victory. The case involved a firm of consultants, PA Holdings Ltd, who devised a tax strategy to reduce PAYE and NI on bonuses. The company issued a special class of shares to employees, and then paid large … Continue reading Are Dividends Still Safe From HMRC After Tribunal?
As we approach Christmas and the New Year, a quick reminder of one Xmas present that you will want to avoid. Electronic Self Assessment Tax Returns need to be submitted to HM Revenue & Customs on or before 31st January 2014. This means that they must be submitted by midnight on that Friday. This applies … Continue reading Electronic Self Assessment Tax Returns need to be submitted to HM Revenue & Customs on or before 31st January 2014.
If you are registered for VAT then, unless you are a retail shop, you must issue a VAT invoice each and every time that you make a supply. Each invoice must contain certain information by law. We have recently come across a number of cases where invoices have been raised with incomplete information, so we … Continue reading What You Need To Include In Your VAT Invoices
Do you want to pay tax of over £10,000 on the fictitious income you have not earned? That was the tax bill sent to one taxi driver who was selected for investigation by the tax office and which was based on “experience” and “information received”. The eventual increase in tax was under £1,000. All UK … Continue reading Tax Investigations Insurance Package to Protect From Fees
A guide for people who sell items online, through classified advertisements and/or at car boot sales Online auctions, classified advertisements and car boot sales provide opportunities for selling and the possibility of making untaxed income. This guide will help you to decide whether you have to notify HMRC and pay tax on the profits or … Continue reading A guide for people who sell items online, through classified advertisements and/or at car boot sales