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Posts Tagged ‘HMRC’

Budget 2013 summary

Posted on: March 20th, 2013 by Hardeep No Comments

So George Osbourne joined twitter “Today I’ll present a Budget that tackles the economy’s problems head on helping those who want to work hard & get on” twitter.com/George_Osborne… but what did the budget actually say?..   IR35 IR35 was not mentioned in the speech but did receive a very brief comment in the published guidance. TheRead more…

Budget 2013 – What Can We Expect

Posted on: March 15th, 2013 by Hardeep No Comments

There’s been a lot of talk about next week’s Budget recently, but what exactly is the Budget? When does it take place? And what can we expect from it? What is the Budget? The Budget is a statement delivered by the Chancellor of the Exchequer to the House of Commons. It outlines the state ofRead more…

PAYE In Real Time – RTI

Posted on: March 9th, 2013 by Hardeep No Comments

Real Time Information, or RTI, is a new way of reporting Pay As You Earn (PAYE). It’s being introduced by HM Revenue & Customs (HMRC) from 6 April 2013.   So What’s Changing? Currently, employers send an annual return to HMRC to pay the tax and National Insurance Contributions (NICs) of their employees. These liabilitiesRead more…

Child Benefit Changes – What It Means For You

Posted on: February 11th, 2013 by Hardeep No Comments

If you keep up-to-date with the news, you’ll surely be aware of the recent changes made to the rules on Child Benefit. But in case you’re not, here’s a quick summary:   What Are The Changes? The changes to Child Benefit mean that high-earners will have to pay extra tax on payments received. The extraRead more…

HMRC’s New Campaign to Target Outstanding VAT Returns

Posted on: January 25th, 2013 by Hardeep No Comments

  HM Revenue and Customs (HMRC) has announced a new campaign aimed at businesses that have failed to submit VAT returns. The VAT Outstanding Returns campaign will target up to 50,000 businesses this month with warnings that their tax affairs will be closely scrutinised. HMRC is giving these businesses the chance to get up toRead more…

What are Payments on Account?

Posted on: January 7th, 2013 by Hardeep No Comments

If you’ve completed a self-assessment tax return, or if you’re due to, you’ll probably have come across the term ‘payments on account’. But what are they exactly? And will you be required to pay them?   What Are Payments on Account? Payments on account are tax payments made in advance towards next year’s tax bill.Read more…

HMRC re-launches Business Records Check

Posted on: November 5th, 2012 by Hardeep No Comments

HMRC will start targeting businesses across the country later this month as it rolls out a new “fresh approach” to Business Records Checks (BRC) visits.   As of the 26th November HMRC will start visiting small and medium-sized businesses in London and East Anglia to check their records. The visits will take place over aRead more…

How to Register for Self-Assessment

Posted on: September 25th, 2012 by Hardeep No Comments

Should I register for self-assessment? If you have become a director of a Ltd company in the last tax year and have not completed a personal tax return previously then you will need to inform HMRC of your change of circumstance and that you need to complete one now. How do I register? You canRead more…

Delay to Consultation on Income Tax-NIC Integration

Posted on: June 21st, 2012 by Hardeep No Comments

The UK Government has announced that a consultation on options to integrate the operation of income tax and National Insurance Contributions (NICs) will be delayed. What Prompted the Consultation? Plans to consult on this issue were first announced in Budget 2011, which led to a call for evidence. The aim of this was to help theRead more…

IR35 Business Entity Tests Launched by HMRC

Posted on: May 14th, 2012 by Hardeep No Comments

HM Revenue and Customs has drawn up a set of questions to help customers determine which risk band they fall into when it comes to IR35. The tests form part of the Revenue’s guidance on its risk based approach to checking customers’ compliance with IR35; along with six new example scenarios and details of aRead more…

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