September 2, 2010
Paying income tax by direct debit
HMRC has posted a warning about a problem in its system which may affect you if you have authorised them to charge direct debits to settle your income tax liabilities. Online amendments to monthly direct debit plans should only be made...
August 23, 2010
Domicile – new HMRC guidance
HMRC have issued new guidance explaining a change to the circumstances in which they will consider an individual's domicile status for inheritence tax purposes. HMRC intend to use a wider risk-based approach when deciding whether to investigate ...
August 26, 2010
National insurance holidays for new businesses
HMRC have published a technical note which provides more details about the new national insurance contributions (NIC) relief for qualifying businesses outside London, the South East and East England which was announced as part of the coalition Govern...
August 8, 2010
The Serious Organised Crime Agency (SOCA)
The Home Secretary recently announced plans to create a new National Crime Agency, harnessing and building on the intelligence, analytical and enforcement capabilities of the Serious Organised Crime Agency (SOCA). The exact makeup of this new ...
August 30, 2010
New interest rates come into force
Two new statutory instruments relating to interest rates came into force on 31 August 2010. The first is relevant to almost all taxpayers and specifies the rate of interest chargeable on the late payment of taxes and duties an...
August 22, 2010
Tax credits renewal
Families and individuals who receive tax credits should have renewed their claims by 31 July 2010. Claimants who did not renew on-time may have their payments stopped and will be sent a statement from HMRC which will detail if they are due or o...
August 18, 2010
VAT – Correcting errors on VAT returns
HMRC are reminding VAT registered businesses that many small errors can be corrected by making an adjustment to a subsequent VAT return, subject to the usual time limits. The reminder stresses the benefit of correcting a 'reasonable' error on a...
August 18, 2010
Paper self-assessment reminder
HMRC are reminding taxpayers and their agents who want to file paper self-assessment returns for the year ended 5 April 2010. As our readers will be aware the deadline for submitting paper returns is 31 October 2010 and there is usually an auto...
August 18, 2010
Online filing arrives for LLPs
Companies House has announced an enhancement to the facilities available for Limited Liability Partnerships (LLPs). LLPs must be registered with Companies House and must file an annual return, accounts and notices of changes of members just like limi...
August 11, 2010
Fraudulent phone calls from 'HMRC'
HMRC are drawing attention to an increase in the amount of fraudulent phone calls being made by individuals purporting to be calling from HMRC . These phone calls to taxpayers offer bogus tax refunds and ask for bank credit card details o...