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HMRC resignations at four year high!
Staff are leaving HMRC in their highest numbers for four years, with nearly 1,700 employees leaving in the last 12 months, according to recent research. A total of 1,697 staff resigned from HMRC in 2012-13, the highest number since 2008-9. This is 2.65% of the total staff. In the last couple of years, HMRC has…
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HMRC attacks LLPs as “Tax Avoidance”
At least that’s the view in a report recently published by the Office for Tax Simplification (OTS). In the review of the tax treatment of 420,000 businesses the authors came to the conclusion that HMRC generally treats partnerships and LLPs in particular, as if they were exclusively “avoidance vehicles”! In the report, the authors said: ‘Echoes…
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HMRC win dividend waiver case
We highlighted in this blog as long ago as 2012 HMRC’s increasingly aggressive stance against what has long been held as legitimate tax planning by smaller companies. In a recent ruling (January 6, 2014) the Inland Revenue have won a case at appeal that gives further clarification around the issue of ‘settlement legislation’ and waiver…
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One man companies beware!
One man companies should be well aware of the IR35 rule. The taxman has just published its 47 page ‘Intermediaries legislation guidance note’. http://www.hmrc.gov.uk/ir35/guidance.pdf The note includes 12 business entity tests which will be one element in assessing the likely risk of there being potential ‘tax leakage’ and whether HMRC need to take further action.…
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VAT Exemption Extends to all Not for Profit Sports Clubs
Further to our blog of the 2 January 2014, we should also point out that the European Court ruling will apply to any fees received by a not for profit organisation for the playing of sport. H M Revenue & Customs has yet to publish their reaction to this decision but all sports Clubs should…
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HMRC Tackling Fraud – an Update
At a time when there has never been a greater focus on “morally repugnant” tax planning, we thought it might be interesting to see how well HMRC have done in the last year, collecting our taxes and tackling fraud. The following statement is reproduced from Parliament’s website and was made by The Rt Hon Margaret…
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Why My Tax Return is Late…
There are may legitimate reasons why you may struggle to submit your tax return before the 31 January deadline, but don’t expect much sympathy from HMRC who have recently published a list of the ‘Top 10 oddest excuses’ for sending in a tax return late and incurring the £100 late filing penalty. Perhaps the most…
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VAT Windfall for Golf Clubs
Member-owned golf clubs in the UK could be in line for a considerable windfall after the European Court of Justice ruled that their visitor green fees are not liable to VAT. Bridport and West Dorset Golf Club, brought a case some time ago against HM Revenue and Customs, arguing that, since they were not-for-profit organisations,…
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Retailers lose VAT case relating to fraudulent transactions
In a judgement that could have an impact on most retailers, Dixons Retail plc has lost its case before the European Court of Justice. The Court has ruled that where a customer fraudulently uses a bank card to obtain goods from a retailer and the retailer receives payment of the price through the card system,…
Understanding your business finances is about far more than meeting your statutory obligations. While many business owners focus on sales and turnover, a deeper understanding of profitability, cash flow and overall financial performance can lead to better decision-making and long-term business success. The financial statements produced by your accountant can …
August 14, 2026
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