News
Accounting news,views and features
Distilled, analysed and delivered
Making Tax Digital for VAT
With Less Than 4 Months To Go, Making Tax Digital for VAT is Looking Like a Car Crash Waiting to Happen…. These aren’t our works. Making Tax Digital (‘MTD’) for VAT is in a mess! The ‘car crash’ reference was uttered recently after the House of Lords economic affairs finance bill sub-committee had heard from tax experts and business representatives. Surely the people in the know are businesses and tax experts rather than civil servants?
Inheritance Tax – Be Ready for the Long Haul
No matter how good you or your solicitor or accountant are at doing the forms, the Inheritance Tax process is frustrating. Your competence doesn’t matter a row of beans if the Tax Office drag their heels. You can be subject to an all too familiar round of delays caused by human error, computer failure or staff shortages.
Inheritance Tax – What You Need to Know (Part One)
It’s the tax we don’t talk about – and the most hated tax of all!
A lot of people have heard of inheritance tax but it’s one of those things that you’ll not think about if you don’t have much wealth. Even if you do, we don’t like to talk about it “seriously”, in the main.
Making Tax Digital (‘MTD’), Deadline Looming
“The hurrier I go, the behinder I get!”
Alice In Wonderland, Lewis Carroll
HMRC is currently piloting Making Tax Digital (MTD) for VAT but this is by invitation only. Once HMRC is satisfied that things are working as expected, it proposes to allow business to join the pilot without invitation. It will be interesting to see when this happens, which will be the true litmus test.
Are You a Personal Services Company (‘PSC’)?
Keep Calm and Carry On Contracting? But, are you a Personal Service Company?
“IR 35” was the 1999 Inland Revenue pamphlet that explained to companies they could be liable for paying a kind of payroll tax. This was for any “one-man” or “one-woman” Director business providing personal services to a main business contractor, through their own Personal Service Company (PSC).
New HMRC Offshore Penalties are Coming
Requirement to Correct: Out of Mind but not Out of Sight
HMRC is gearing up for a seriously new hard penalty regime that comes in to force from 1st October 2018. It will impact anyone who has not by then, told HMRC they owe UK tax up to 5th April 2017 relating to offshore interests.
Couples and Divorce – Part 1
Not really news…. but maybe “News to you”
In this occasional series, we look at things that you might not know but knowing could save you (or someone you know) some money. As suggested in our previous article on separation, we take a deeper look at couples and divorce.
The ‘B’ Word is Looming
Brexit: Deal or No Deal?
The dreaded ‘B’ word, hasn’t been mentioned by us until now. That’ll be “Brexit”, then. Up to now, we have resisted temptation to even utter the word. But we are getting a bit close now to what may happen: Deal? No deal? No Brexit post Referendum #2? Don’t laugh at No Brexit, it could happen. We cover all potential political angles here.
Separation Anxieties When it Comes to Assets? What You Need to Know
Not really news…. but maybe “News to you”
In this occasional series, we look at things that you might not know but knowing could save you (or someone you know) some money. In this article we look at couples and separation.
Can we help? Explore our services