HMRC and the Advertising Standards Agency have launched a joint initiative to eliminate misleading marketing regularly used by promoters of tax avoidance schemes.
January is always a busy month for HMRC as people rush to file their self-assessment tax returns before the 31st January deadline. It is advisable to avoid this busy period and file your tax return as soon as possible.
After the unprecedented events of 2020, employer’s ability to say thank you to their employees and clients has never been more important. But, with the COVID-19 restrictions in place, companies are having to think of alternative ways to wish employees a happy Christmas and are moving their annual office parties online.
HMRC has issued a warning to contractors, agencies and end-clients to avoid mini umbrella companies (MUC) due to the serious risks they pose. By engaging with mini umbrella companies, contractors are able to increase their pay retention. However, not only are they non-compliant, they can damage the lives of the people who use them, and damage the reputation of the entire supply chain.
On Thursday 26th November 2020, HMRC published a report entitled “Use of marketed tax avoidance schemes in the UK”. The report outlines what the government knows about the current state of the avoidance market, and the steps they are taking to tackle tax avoidance in the UK.
Holding buy-to-let property in a Special-Purpose Vehicle (SPV) company offers certain improved tax benefits and planning which are not available to private landlords. Continue reading to discover the benefits of using an SPV company to build your property portfolio.
Had everything gone to plan this year, the Chancellor would have been delivering his Autumn Budget speech. Instead, Rishi Sunak declared an economic emergency alongside a slimmed-down spending plan as part of the Spending Review 2020.
HMRC has introduced a workaround for those who need to register for self-employment and obtain a Unique Taxpayer Reference (UTR) but have not been able to get a National Insurance (NI) number.
Year-end accounts are a legal and often daunting requirement for limited company Directors to complete and file, but they don’t need to be! We’ve summarised the basic requirements for year-end accounting, so you know what you need to do to prepare.
Thousands of contractors are now facing substantial tax bills as a result of the controversial loan charge. Whether they engaged with tax avoidance schemes knowingly or by mistake, the government is committed to reclaiming underpaid tax.
