Latest News

Long waits for MTD VAT helpline advice slammed by MPs

MPs have criticised HMRC for the long wait times experienced by taxpayers looking to get through to Making Tax Digital for VAT (MTD for VAT) helplines. Many taxpayers have reported that they have been kept waiting on the phone for long periods of time when seeking help in regard to MTD for VAT. Others stated that they have been cut

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Tax-Free Childcare ‘to help with summer childcare costs’, says government

Working parents could be entitled to Tax-Free Childcare worth up to £2,000 per child per year to pay towards regulated holiday clubs during the school holidays. Parents can choose from more than 68,000 childcare providers that have signed up, including school and summer camps across the country. If parents pay into their Tax-Free Childcare account regularly, they can ‘save up’

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Jailed ‘spy’ to pay up or face more time

A Norfolk tax fraudster who claimed he was a spy in an attempt to cover his tracks has been ordered to pay £615,000 or face a further five years behind bars. Raymond Thomas, 73, was jailed for four years and eight months in November 2017, after a HMRC investigation found he had stolen £1.6 million. In an attempt to hide

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VAT Certificates under Making Tax Digital

The vast majority of businesses that have signed up (or have been signed up by an agent) to Making Tax Digital are now able to view their VAT Certificate in their Business Tax Account (HMRC online services). The functionality for agents to access this information will be delivered in August, in the meantime they should call the HMRC VAT helpline

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Making Tax Digital – Direct Debit payments

HMRC is aware a small number of businesses that pay their VAT by Direct Debit and have signed up to Making Tax Digital (MTD) have not had their last non-MTD payment collected. HMRC is rectifying the situation as a matter of priority and expect to have collected all outstanding payments by 22 July. If a business has not had their

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Don’t let a scammer enjoy your clients’ retirement

You’re helping savers to make the right decisions. Scammers are hoping they don’t. The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) are urging business advisers to get to know their responsibilities and help protect their clients from pension scammers. The regulators recommend four simple steps that advisers can share with their clients to keep fraudsters at bay: Reject

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Small businesses ‘not satisfied with their advisor’

Despite client experience being one of the most important drivers of growth for an accounting firm, new research has revealed that many small business owners wouldn’t recommend their current advisor to someone else. The analysis from Xero looked at businesses using any online bookkeeping tool. It found that 80% of small businesses are working with an external accountant or bookkeeper;

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When no tax demand spells trouble

Rather than cheer the lack of an expected tax bill this summer, the Association of Taxation Technicians (ATT) is warning such people to brace themselves for bad news from HMRC after Christmas. This is because problems with HMRC’s systems earlier this year will mean that some people may not receive the tax demands they expect by the end of July.

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HMRC missed out on collecting £35bn in tax in 2018

The amount of money the taxman missed out on collecting in 2018 rose by £2bn, undermining government claims about effective efforts to clamp down on tax evasion. Figures published by HMRC revealed its tax gap increased to an estimated £35bn in 2017-18, up from £33bn in 2016-17 and from £30bn the year before that. The tax gap is the difference

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