News & Updates

The Budget Day and Tax Day announcements have highlighted two tax changes – one to the penalties for late payment of taxes, and the other to the payment schedule for income tax and corporation tax. - Read More

The pandemic has increased the risk of unpaid taxes and of more people deliberately trying to flout the system, and so now the government is placing considerable emphasis on its plans to recoup these unpaid taxes.  - Read More

HMRC has decided to extend the 5% late payment penalty deadline for self assessment taxpayers until 1 April, although daily interest charges are still being applied on any unpaid tax from 1 February 2021.  - Read More

Due to Covid-19 the government delayed the implementation of IR35 rule changes until 6 April 2021. Despite calls to delay it further, the government has announced that IR35 reforms will go ahead this year, regardless of the ongoing pressures caused by coronavirus. - Read More

Making Tax Digital for VAT has been live since 2019, and plans are being rolled out to extend it to all VAT registered businesses, and then also to self-employed businesses and landlords for income tax reporting. - Read More

Tax return deadline day is looming. If the ongoing upheaval of coronavirus and a deferred Payment on Account means you won't be able to pay your self assessment tax bill in full by 31 January, you can set up an agreement with HMRC to pay it in instalments. - Read More

The impact of Covid-19 on the UK’s public finances recently led the Treasury Select Committee to launch a new inquiry called ‘Tax after coronavirus’. - Read More

The government has published an overview of its Making Tax Digital scheme, outlining plans to extend the MTD rules for both VAT and Income Tax. - Read More

Following a pause due to the coronavirus pandemic, HMRC is now restarting its tax investigations and is planning to recover payments and issue penalties on incorrect claims made under the Coronavirus Job Retention Scheme (CJRS) and the Self-employed Income Support Scheme (SEISS).  - Read More

IR35 reforms in the private sector are highly unpopular, and so the decision to delay their implementation until April 2021 because of the coronavirus pandemic has come as very welcome news. - Read More

HMRC aims to increase revenue from tax investigations by £4.4bn over the next five years, and will continue to target individuals and small businesses which have proved very lucrative in the past year. - Read More

If you run your own limited company, chances are that you’ll be aware of dividends. But how exactly are dividends taxed, and is it better to take dividends or pay yourself a salary from your company profits? - Read More

When the Chancellor makes his Budget speech on 11 March, will he take on board any of the recent recommendations he's received to simplify Inheritance Tax or even scrap it entirely? - Read More

It was recently announced that the government’s plans to introduce an enormous hike in probate application fees have now been dropped. - Read More

If you undertake work for a large or medium-sized organisation and are paid via your personal service company, it's time to get ready for new off-payroll working rules. - Read More