Latest News

HMRC Talking Points sessions – January and February 2018

HMRC’s regular Talking Points meetings provide ongoing information, guidance and tips, helping you to understand tax issues. Please find further details of future scheduled online meetings below: Basis periods – looking at commencement years, changes to accounting date and overlapping periods: Focusing on basis periods, in particular, looking at the different rules that apply to commencement years, changing of accounting date

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HMRC needs your help: Are your self-employed clients also tax credits claimants?

When speaking to your clients about their Self Assessment (SA) returns please remind them to update the Tax Credits Office with their final income details to ensure they get the right benefits.  Tax credit claimants who make an SA return need to provide the net profit figure from that return before 31 January 2018. If they have other income, for

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Auto Enrolment triggers remain unchanged

The automatic enrolment (AE) earnings trigger and qualifying earnings band for 2018/19 remain unchanged, following a government review. The existing earnings trigger of £10,000 was found to be at the correct level and will not change for 2018/19. In addition, the link with the National Insurance Contributions (NICs) Lower Earnings Limit will be maintained at its 2018/19 value of £6,032 as the

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Tax-free childcare opens to children under nine

HMRC has opened its tax-free childcare scheme to parents who have children under the age of nine, with the scheme opening to all remaining eligible families on 14 February, after full rollout was delayed due to the service experiencing IT difficulties Tax-free childcare will open to all remaining eligible families with children under 12 on 14 February 2018, meaning that

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Apprenticeship levy coming under fire

The controversial apprenticeship levy is facing a growing backlash from businesses, with companies finding a well-meaning policy is being strangled with red tape. Many are complaining the funds raised do not cover training costs and the levy has, in effect, become just another business tax. Launched in April last year, the levy aims to raise £3bn a year to fund

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New position available: money mule

One third (32%) of Britons would apply for a job as a money mule, helping criminals to launder money. That’s the finding of an experiment carried out by Santander to shed light on just how convincing the ‘bogus job ad’ is: a technique which criminals use to lure people looking for work into transferring money connected to criminal activity. Santander’s

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HMRC criticised over customer service measures

HMRC has come under fire over its failure to deliver its transformation programme as planned, disparities in the treatment of high net worth individuals (HNWI) compared with other taxpayers, and a lack of clarity in its customer service. In its review of HMRC’s performance 2016-17, the Public Accounts Committee (PAC) found that HMRC’s transformation programme is not deliverable as planned

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Cyberattacks averaging 633 per day per firm!

UK companies are under attack, with the average firm ‘experiencing’ a whopping 231,028 cyberattacks during 2017. That equates to 633 attempts to breach firewalls every day. Research by Beaming, a provider of internet services, found that the attacks rose by a quarter (24%) in the final quarter of the year. The report comes just days after flaws in microchips, which could

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Card surcharge ban means no more nasty surprises

Hidden charges for paying with a debit or credit card have been banned through a new EU directive. So-called ‘surcharging’ has become commonplace, particularly online, with many retailers hitting people with surprise charges just before they are about to make a purchase. Some retailers have been known to add charges that are far higher than it costs them to process

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