Latest News

Public pilot of Making Tax Digital for VAT opens

Public pilot of Making Tax Digital for VAT opens

Posted in Latest News on November 1, 2018

HM Revenue & Customs (HMRC) has opened a public pilot of Making Tax Digital (MTD) for VAT. The pilot is open to sole traders and companies that are …

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Payee names to be required for bank transfers in effort to combat fraud and errors

Payee names to be required for bank transfers in effort to combat fraud and errors

Posted in Latest News on November 1, 2018

From next year, payee names will be checked when making bank transfers in order to ensure that funds are being sent to the correct recipient. Currently, …

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HM Revenue & Customs to review and rework some 2016-17 self-assessment tax returns following error

HM Revenue & Customs to review and rework some 2016-17 self-assessment tax returns following error

Posted in Latest News on November 1, 2018

The Chartered Institute of Taxation (CIOT) has warned that HM Revenue & Customs (HMRC) is to review and potentially rework as many as 30,000 self-assessment …

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R&D Tax Credit system to be reviewed in light of fraudulent claims

R&D Tax Credit system to be reviewed in light of fraudulent claims

Posted in Latest News on November 1, 2018

According to figures released in the Autumn Budget, HM Revenue & Customs (HMRC) has prevented around £300 million of fraudulent R&D tax credit …

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Research reveals Inheritance Tax hotspots across the UK

Research reveals Inheritance Tax hotspots across the UK

Posted in Latest News on November 1, 2018

New research has revealed that the affluent area surrounding Guildford in Surrey has the highest proportion of people paying Inheritance Tax (IHT). The …

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Entrepreneurs’ Relief rules to be tightened

Entrepreneurs’ Relief rules to be tightened

Posted in Latest News on November 1, 2018

Despite rumours that the Chancellor might scrap Entrepreneurs’ Relief (ER) all together in the Autumn Budget, Philip Hammond decided to retain the tax …

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National Living Wage to rise in April 2019

National Living Wage to rise in April 2019

Posted in Latest News on November 1, 2018

In his latest Budget speech to the Commons, Chancellor Philip Hammond announced that the National Living Wage and National Minimum Wage would increase …

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Autumn Budget 2018

Autumn Budget 2018

Posted in Latest News on October 29, 2018

The sun was already edging behind the London skyline by the time Chancellor Philip Hammond rose to the despatch box to deliver the first Monday Budget …

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CIOT reports increase in R40 refund errors

CIOT reports increase in R40 refund errors

Posted in Latest News on October 2, 2018

According to a new report by the Chartered Institute of Taxation (CIOT), there have been a growing number of R40 computation errors on refunds processed …

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Workers miss out on £15.6 million in pay through minimum wage breaches

Workers miss out on £15.6 million in pay through minimum wage breaches

Posted in Latest News on October 2, 2018

Minimum wage breaches, including breaches of the National Living Wage, have cost workers from across the UK a combined total of £15.6 million in lost …

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