News
Delay in issuing Self-Assessment penalty notifications
07 March 2019
While 93.68 per cent of the 11.5 million taxpayers who were required to file their Self-Assessment Tax Returns by midnight on 31 January did so on time, 731,186 missed the deadline. Those who missed the deadline will have to wait longer than...
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Making Tax Digital productivity boost expected to be worth billions to UK SMEs
07 March 2019
New research suggests that the UK’s SMEs could benefit to the tune of as much as £57 billion over the next five years because of digital productivity improvements associated with HM Revenue & Customs’ (HMRC) Making Tax Digital (MTD) initiative.
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Automatic Enrolment contributions to increase
21 February 2019
The next increase in Automatic Enrolment (AE) pension contributions for both employees and employers will take place from 6 April 2019. The minimum employer contribution will increase from two per cent to three per cent, while the employee contribution will rise from three per cent to five per cent...
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HM Revenue & Customs drops insistence that all company directors must submit tax returns
21 February 2019
HM Revenue & Customs (HMRC) has dropped its insistence that all company directors must submit tax returns following a series of tribunal rulings. For several years, HMRC has advised in its guidance on the gov.uk website that company directors should register for Self-Assessment and this has also been part of online...
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Late payers to be flagged up to businesses under new proposals
21 February 2019
The Small Business Commissioner, Paul Uppal, has recommended a new “traffic light” system that will warn smaller firms which businesses have a consistent record of late payment and those most likely to request longer payment terms.
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Just over half of businesses are prepared for Making Tax Digital
21 February 2019
A new study into preparations for Making Tax Digital amongst businesses has found that only 57 per cent of firms are ready to comply with the new regime by 1 April 2019. Despite the various delays and changes to the Government’s new digital tax system, businesses have had several years to prepare themselves...
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Entrepreneurs’ Relief changes fail to meet up to the test
21 February 2019
During the last Budget, the Government announced new conditions to entrepreneurs’ relief that would take immediate effect to change the definition of a “personal company” for shareholders who claim entrepreneurs’ relief.
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Payroll sector prepares for key changes in 2019/20
21 February 2019
The next 12 months will see a number of new changes to payroll policy that could have an impact on a wide range of businesses. To give an overview of how businesses could be affected by these changes, below are some of the highlights that employers will need to prepare for.
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Taxpayers treated unfairly by HMRC, says House of Lords report
04 January 2019
The House of Lords Economic Affairs Committee has criticised some of the powers granted to HM Revenue & Customs (HMRC), describing them as disproportionate and lacking effective taxpayer safeguards. The committee’s latest report says that HMRC’s powers are now too broad...
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Taxpayers offered online tool to assess their self-assessment requirement
04 January 2019
It should seem obvious whether an individual must submit a self-assessment tax return annually. Yet, each year, thousands of people find themselves brought into the regime unwittingly. To help taxpayers prepare their affairs accordingly, HM Revenue & Customs (HMRC) is offering a free online tool...
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Case Studies
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Customer care is top of the list for packaging business
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Child's play with proactive accounts management
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A taste for growth, a thirst for knowledge
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Sometimes a business does exactly as it says on the tin
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Smiles all round for dental practice
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A modern approach required for music moguls
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Cut above the rest in personal management style
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Taxing demands with old school charm
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A shared passion for architecture and a head for numbers