Spring Budget 2017

Spring Budget 2017 – In the first of two budgets in 2017 Chancellor Hammond presented a budget that from a tax perspective much had already been outlined which will effect taxpayers from April 2017. However, significant changes were announced that effect the self-employed and di
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HMRC dawn raids: how to mitigate the damage

Living in fear of a visit from the taxman? This article considers how HMRC plans a dawn raid and how to mitigate the damage if your business is unlucky enough to be targeted The company’s directors will find out about a dawn raid when they get the early morning knock at the door, an
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New HMRC powers granted Royal Assent

The Finance Bill 2014 has received Royal Assent, bringing in controversial new powers for HMRC including accelerated payments notices (APNs) and follower notices on tax avoidance schemes. The Finance Bill 2014 was granted Royal Assent on 17 July and is now the Finance Act 2014. The in
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HMRC investigations: the power of Connect systems

Over the next few postings we’ll be highlighting the power of the investigative tools available to HMRC, so for today, we’ll introduce their “Connect” system. Connect is HMRC’s strategic risking tool that cross-matches over one billion internal and third-party data items and
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HMRC Investigations

Taxpayers who are being investigated by HMRC for suspected tax fraud now don’t have the option of co-operating with the investigation while denying wrongdoing under new guidance. Denial was one of three options for taxpayers when HMRC decided to investigate for suspected fraud u
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Does the taxman define you as a cheat?

There has been a tendency for some accountants (our firm is not one of them) to recommend to clients who are suffering cashflow difficulties, that they should just close their firm and restart in another name, as a method of avoiding their responsibility for paying their taxes.  It i
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Business Records Checks are Back

HMRC have announced a new round of Business Record Checks. If you have been contacted by HMRC saying that they want to speak to you about your business, you need to read this now. All the effective dates for geographical areas and some useful tips for How to Survive a Business Records
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Online sellers have one month to register for tax opportunity

People trading on the internet who haven’t paid all the tax they owe have just one month left to take part in an opportunity offered by HMRC to get their tax affairs in order on the best terms available. Under the time-limited opportunity, known as the e-Markets Disclosure Facility,
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Electricians have one week to reveal any tax due

Electricians have just one week to register to pay any undisclosed tax that they owe under an HM Revenue & Customs (HMRC) campaign.   The Electricians Tax Safe Plan is a time-limited opportunity where electricians can pay any tax and interest they owe, whilst benefiting from lowe
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Review on IR35 due on 7th May

This is important for anyone that works as a consultant or contractor – if you know of anyone in this situation, please pass this on. IR35 has been a sword hanging over the head of business for years. It is the tool that HMRC use to extract huge amounts of additional tax from pe
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