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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…
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Closing the Tax Gap!
HMRC have just published a paper Closing the tax gap: HMRC’s record at ensuring tax compliance in response to a Treasury Select Committee challenge on the value, or otherwise, of tax gap statistics. The annual tax gap is the amount of tax that could be collected and is not. HMRC defends the usefulness of the…
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Companies House Annual Return – why it could harm your business
Companies House are clamping down hard on the late filing of the annual return form. This is an annual form which updates Companies House about directors and shareholders and comes with an on-line filing fee of £14. If the form is filed three months late Companies House will issue a first gazette notice ‘GAZ1’ which…
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Ding dong taxman calling!
HMRC have indicated that later in the year they will be looking in to the tax affairs of those selling beauty products and lingerie door to door or at parties in their own homes. This follows on their stated intention of examining the tax affairs of those selling goods on the internet. HMRC are keen…
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PAYE Dispensation Agreements – can save you time and money
It is that time of year again when forms P11D have to be filed, disclosing benefits in kind provided to directors and employees earning over £8,500. The filing deadline is 6th July 2012 for the 2011/2012 tax year. The forms disclose information concerning taxable benefits, with the common benefits being company cars and private medical…
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Discretionary fund management not exempt from VAT
The European Court of Justice (ECJ) has surprised discretionary fund managers with an unexpected decision not to exempt DFMs from VAT. In an opinion statement published yesterday, an advocate general at the ECJ has recommended all elements of discretionary management services, including initial charges, should be subject to VAT, backing HM Revenue & Customs’ recent…
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HMRC to stamp on residential property transactions
How much Stamp Duty Land Tax (SDLT) will you pay when you buy residential property in the UK following the Budget? Firstly the extension of the nil rate band to £250,000 for first time buyers ceased on 24 March 2012. The current SDLT rates are: Residential property purchased outside disadvantaged areas: Zero charge – £0…
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VAT – Changes to Road fuel Scale Charges (RFSC)
HMRC announced yesterday that later this year, they intend to make changes to the current VAT legislation relating to road fuel scale charges as current practice is incompatible with EU law. Under existing UK law, where a business has provided fuel to an employee for their private use and has made a charge for that…
From Monday 21st to Friday 25th September, we’ll be selling cakes and sweet treats at our Leamington Spa office in support of Macmillan Cancer Support. Following the success of last year’s event, we’re hoping to raise even more money this year. Our talented team will be baking a delicious selection …
August 20, 2026
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