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Received an email from HMRC – guidance issued on how to spot bogus emails
The Inland Revenue (HMRC) have issued further a press release warning tax payers about possible fake or ‘phishing’ emails sent out by fraudsters, and guidance on how to spot them and what to do if you receive one. Their briefing starts with the simple message: Remember: •HM Revenue & Customs (HMRC) will never send notifications…
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The Company Car – is it time to consider lower emission vehicles?
For many years now HMRC have increased the tax costs for the company car driver and the employer. Not only by increasing the income tax implications but also by reducing the corporation tax allowances. In the current tax year a company car driver will be taxed on 35% of the list price of the car…
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Equitable Life tax bonus
If you are due, or have already received, compensation in respect of the Government’s maladministration of Equitable Life pensions and policies you may be interested in the tax position of these payments. 1. There is no need to declare receipts to HMRC as they are not subject to Income Tax, Capital Gains Tax or Corporation…
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Furnished Holiday Lets
Does your holiday home qualify as a Furnished Holiday Let (FHL) property? And if it does, what are the tax advantages? Does your property qualify? From April 2012 the following conditions apply: 1. The property must be situated in the UK or EEA. 2. The property must be available for commercial letting as holiday accommodation…
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Pensions – Auto-enrollment
Under the new workplace pensions law that comes into effect from October 2012, certain types of workers must be automatically enrolled into a pension scheme by their employer. There are 3 types of workers affected by the reforms: eligible jobholders, non-eligible jobholders and entitled workers. Only eligible jobholders will have to be automatically enrolled but…
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Royal Mail VAT Recovery Bonus
A lead case is to go before the First-Tier Tax Tribunal that could see businesses recover millions of pounds of VAT in respect of Royal Mail’s postal services. In the past, Royal Mail had treated postal services as exempt under the Value Added Tax Act 1994. However, an earlier case brought by TNT determined that…
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Yet another tax U-turn!
In my last blog I posed the question: ‘How many more U-turns?’. Well we have the answer – yet another one and this time on ‘skip tax’. So that makes 5 in a week – not bad going in anyone’s book. Will Mr Osborne manage to regain some credibility over the coming months as future…
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How many more U-turns?
In my last blog I mentioned the need for us to wait for the consultation papers on ‘relief capping’ in the summer to see whether the fierce lobbying from the charity sector had been effective. Well clearly it has as we now have our third major tax U-turn in a week. Mr Osborne announced yesterday…
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Lobbying does pay!
In the past few days a number of national newspapers have been crowing about the part they and their readers have played in getting the Government to back down on certain tax proposals. We have seen this week the Government changing its mind with regard to some of the VAT changes announced in Mr…
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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