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HMRC issues reminder about new R&D tax relief rules
Despite new requirements for research and development (R&D) claims being in force for a month, almost half of claims made since then have omitted the necess
Hidden MTD news in Spring Statement documents
Thye Chancellor kept her pledge that there would be no more tax rises at the Spring Statement, but there are some important Making Tax Digital developments.
Advisory fuel rates from 1 March 2024 published
The approved amount that employers can reimburse staff for business travel in company cars changes from 1 March 2024. What are the new rates?
HMRC scraps paper VAT registration
From 13 November HMRC will abolish the paper VAT registration form. How will new applications be made from that date?
Workaround for botched HMRC student loan repayment calculations
HMRC systems cannot differentiate between certain types of income which could lead to an overpayment of student loan deductions. What's the solution?
HMRC issues reminder of saving scheme
HMRC has revealed the level of bonus payments paid out to participants of the Help to Save Scheme and encouraged others to look at using the scheme.
New guidance on commuting expenses for hybrid workers
You can't claim tax relief for the expenses associated with travelling to your usual place of work. However, what is the position if you're a hybrid worker?
Government seeks views on inheritance tax changes for trusts
The government has opened a consultation on the application of the £1m allowance for property settled into trust qualifying for 100% property relief.
Meaning of "new and unused" clarified for CAs purposes
The guidance on what "new and unused" means for the purposes of first-year allowances has been updated in order to make things clearer. What's the full story?
Proof of employment expenses now required
HMRC now insists on evidence of employee expenses claimed through PAYE. What records do you need to keep?
Latest advisory fuel rates for company car drivers
The amount that employees can be reimbursed for business travel in company cars changed from 1 September 2024. What are the new rates?
Guidance for merged R&D scheme published
Companies claiming tax relief for R&D will need to use the new merged scheme for accounting periods starting on 1 April 2024. What are the key changes?
Child benefit goes digital
HMRC's new online service for child benefit: Claim in 10 minutes, receive payments in 3 days. What's needed to use the service?
Lord Sugar falls foul of little-known residence rule
Lord Alan Sugar has found himself in the spotlight after he alleged his accountant gave him incorrect advice in respect of his tax residence. What went wrong?
Multiple agents for MTD ITSA will be permitted
Guidance published by HMRC confirms that it will be possible for more than one agent to hold authorisation for Making Tax Digital.
HMRC deliberately cutting off calls?
The Public Accounts Committee (PAC) has severely criticised HMRC's customer service, forcing it to make a public statement. What's the full story?
Scammers already targeting pensioners over winter fuel payments
Phishing attacks are being sent to pensioners purporting to be from the Department for Work and Pensions. What's going on?
Overlap relief calculator launched
An interactive tool has been launched to help taxpayers calculate the overlap relief to report on their 2023/24 self-assessment tax returns.
HMRC MTD ITSA webinar - worth a look?
Making Tax Digital will be mandatory for some traders and landlords next year. Ahead of this, the government is ramping up its guidance to help you get ready.
Losses on CT returns may be incorrect
If you receive a letter from HMRC about your corporation tax losses, don't ignore it or you could end up overpaying. What's going on?
HMRC reopens self-assessment helpline
HMRC's self-assessment helpline was closed in June. It's now reopened for calls ready for the tax return filing season. What do you need to know?
Beware of Sunday payment deadline this month
The deadline for paying monthly PAYE is on the 22nd of each month. For September 2024, this falls on a Sunday. What can you do to avoid late payment?
Latest advisory fuel rates for company cars
The amount that employees can be reimbursed for business travel in company cars changes from 1 December 2024. What are the new rates?
HMRC launches remittance basis toolkit
A new toolkit aimed at assisting non-domiciled taxpayers that use the remittance basis has been launched. What does this do?
HMRC payroll reporting for Christmas
HMRC's recent guidance to employers includes a reminder about its concession for real time reporting requirements of payroll over the Christmas period. More.
Scottish Budget confirms bands and rates for 2025/26
Ahead of the Scottish Budget, there were rumours that tax hikes were on the way. However, the announcements made on the day will see some easing of tax for lowe
HMRC warns employers over seasonal staff pension rights
Businesses that take on temporary staff over busy periods, e.g. the summer holidays, need to check whether they have obligations under auto-enrolment.
New online service for voluntary contributions goes live
Gaps in your NI history? You can now pay voluntary contributions online to increase your entitlement to certain benefits. How do you access the new service?
HMRC pauses some refund claims for agents
Due to security concerns, HMRC has warned that it will not process refund claims made by authorised agents. What's going on and what alternatives are available?
Loan written off: are you in HMRC's crosshairs?
HMRC is writing to directors that took a loan from their company that was later written off or released. What should you do if you receive a letter?
HMRC reminds cryptoasset holders of tax obligations
Ahead of this month's filing deadline for 2022/23 tax returns, HMRC is urging cryptoasset holders to check if they need to report transactions.
Class 2 NI demands being sent in error
Compulsory Class 2 NI has been abolished but that hasn't stopped HMRC sending out demands for it for the last tax year. What's happening?
P11D filing deadline looming
The deadline for employers to file P11D forms for 2023/24 is 6 July. You need to be aware of a crucial change this year. Why should you check the position even
Latest advisory fuel rates published
The HMRC-approved amount that employers can reimburse staff for business travel in company cars changes from 1 December 2023. What are the new rates?
P11D filing to end
HMRC is scrapping the use of Form P11D to report benefits in kind from 2026. How will you need to account for tax and NI due after this?
Rogue refunds of Class 2 NI due to HMRC failure
HMRC has incorrectly refunded Class 2 NI to some self-employed taxpayers. What should you do if you get an unexpected payment?
Further relaxation of self-assessment thresholds announced
The government has announced changes to the threshold at which some taxpayers need to complete a tax return. What's the full story?
Largest increase to the minimum wage
The government has announced substantial increases to the national living wage (NLW) and national minimum wage (NMW) rates from 1 April 2024.
Pension tax relief can now be claimed online
Higher and additional rate taxpayers can use a new online form to claim additional tax relief on pension contributions. Can you accelerate relief?
Paper filing deadline just days away
The standard filing date for a personal tax return is 31 January. However, if you submit paper returns you need to do it earlier. What's the paper filing date,
Relaxation of self-assessment threshold
HMRC has promised a change to the threshold at which self-employed taxpayers need to complete a tax return. What do we know so far?
MTD ITSA guidance updated following Budget
The Budget contained announcements regarding the rollout of Making Tax Digital for Income Tax Self-Assessment (MTD ITSA). What's the latest updated position?
Salary advances: change to reporting rules
Rule changes on payroll reporting for early salary payments have been relaxed. What do you need to know?
Winter fuel payments to be clawed back via tax system
A government U-turn on the winter fuel payment was announced this week, with a new means-tested threshold. How will this work in practice?
MRC launches MTD ITSA toolkit
HMRC has launched a new online tool to help taxpayers determine whether they need to use Making Tax Digital for Income Tax Self-Assessment (MTD ITSA).
HMRC corrects guidance on company EV car charging
Occasionally, HMRC publishes guidance that is at odds with what the legislation says. A recent example of this is in respect of reimbursement for the costs of c
Child Benefit claimants could be missing out on full state pension entitlement
If you claimed Child Benefit prior to May 2000 you may have missed out on valuable qualifying state pension years due to nuances in HMRC's systems.
HMRC launches PAYE code tool
HMRC has launched a new online tool to help you understand your PAYE code. What is it and how can you use it?
Adding Strength to our Business
We are delighted to announce that Inspire Financial Management have engaged with Galley and Tindle Accountants in Durham, to form a strategic collaboration between our two firms.