The Self Assessment payment on account deferral scheme will apply to all taxpayers, not just the self-employed, it has been revealed. Continue reading
Category Archives: HMRC
Deferring VAT – HMRC confirms businesses should cancel VAT direct debits
Following the Government’s announcement that businesses will be able to defer VAT payments for the period from April – June, HM Revenue & Customs (HMRC) has now confirmed that businesses should cancel direct debits for VAT if they want to utilise the deferment offer. Continue reading
Coronavirus: Government announces IR35 delay
The Government has announced that the IR35 tax reforms which were due to be implemented in April 2020 have been delayed for a year due to the ongoing coronavirus outbreak. Continue reading
Is your business ready for the payroll-year end?
With the payroll year-end fast approaching, you must ensure that your business is complying with the necessary payroll obligations. Continue reading
Contractors under umbrella arrangements could be unknowingly involved in tax avoidance, warns HMRC
Contractors and agency workers being paid through an umbrella arrangement which claims to increase take-home pay could be involved in tax avoidance, HM Revenue & Customs (HMRC) has warned. Continue reading
The VAT treatment of PCP agreements for commercial vehicles
When considering the purchase a commercial vehicle, there are many decisions to make, including whether an HP agreement or a personal contract purchase (PCP) agreement is more suitable, but what are the VAT implications of a PCP agreement? Continue reading
Everything you need to know about the construction industry scheme VAT reverse charge
HM Revenue & Customs (HMRC) announced a 12-month deferral on the domestic reverse charge last year, which will now apply to construction services from 1 October 2020. Continue reading
Chancellor offers reassurance regarding ‘soft landing’ for IR35
The new Chancellor, Rishi Sunak has offered reassurance to contractors that HM Revenue & Customs (HMRC) will ensure a soft landing is in place for the first year following the implementation of the IR35 rules. Continue reading
No small issue – The importance of accounting in microbusinesses
Small and medium-sized enterprises (SMEs) account for the majority of the business population in the UK, producing trillions of pounds in revenue every year. However, a large amount of their time is spent working on financial admin. Continue reading
HMRC reminds employers to review benefits in kind to stay compliant
HM Revenue & Customs (HMRC) has reminded employers that the rules surrounding benefits in kind agreed before 06 April 2017 are changing. Continue reading