Britain’s awesome property sales boom

It's already a legend. According to figures released by HMRC last week, the government collected just short of £1.2bn in tax from property transactions throughout March. The dosh comes thanks to more than 173,000 property transactions, a record-breaking monthly number of purchases and sales. And it's all down to the new 3% stamp duty surcharge

By |2016-07-10T16:35:52+00:00August 25th, 2016|HMRC|

More time, effort and £££ or a simpler tax system? 

Does the government genuinely understand how business works? A whole lot of business leaders think the answer is 'no', as one of the most significant regulatory changes to hit Britain looms closer. The new order involves small businesses having to account for corporation tax quarterly rather than annually. It's a dramatic change. But the government

By |2016-07-10T16:34:04+00:00July 28th, 2016|HMRC|

HMRC government fraud prevention saves a whopping £103m

HMRC is a prime target for phishing and other cyber attacks. Fraudsters frequently send out email messages disguised to look as though they come from HMRC, and some of them are extremely convincing. Luckily they're on the case. According to an article on the Computing website, the revenue prevented fraud totalling a monster £103m in

By |2016-05-11T22:32:47+00:00May 18th, 2016|HMRC|

Scammed? HMRC might chase you for tax anyway

In the wake of the Panama papers leak, HMRC's treatment of a group of 209 scammed pensioners seems ironic in the extreme. The pension savers were unwittingly involved in a £12 million pension liberation scam so serious it lost everyone involved their money and ended up in the High Court. And HMRC is blaming the

By |2016-04-11T23:01:53+00:00April 28th, 2016|Bookkeeping|

HMRC clamps down on government IT VAT Claims

Just when you thought HMRC were going to do the decent thing and simplify their tax systems and rules for the greater good, they bring out new, far more strict guidelines. It looks like government bodies who want to reclaim VAT back from the tax man for big IT buys will face stricter rules than

By |2016-03-14T11:08:03+00:00March 17th, 2016|Bookkeeping|

HMRC announces more than £96m in fraudulent or incorrect tax returns  

According to the government, HMRC has 'intercepted' more than £96 million in 'fraudulent or incorrect' tax repayment claims thanks to their new system, which spotted over 17,000 unjustified tax repayment claims. They checked an awesome 3.4 million self-assessment tax returns in all, a third of the 10.39 million filed, examining both online and paper returns.

By |2016-02-10T19:41:28+00:00February 18th, 2016|Uncategorized|

Great News – No quarterly self-assessment for SMEs!

There was uproar when the government announced its making tax digital initiative, especially since it looked very much like self employed people would end upo having to fill in four tax returns a year, one every quarter. If you've ever had to complete a tax return you can understand people's dismay. It has long been

By |2016-01-12T22:28:45+00:00January 21st, 2016|Bookkeeping|