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Next Steps for HMRC’s Plan to Extend Making Tax Digital (MTD)

20th August 2020

On 21 July, the Treasury set out the next steps in its plan to extend Making Tax Digital (MTD) to all businesses and those taxpayers that file self assessment returns. Currently, businesses above the VAT threshold of £85,000 are required to comply with Making Tax Digital for VAT (MTD for VAT). From April 2022, the…
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HMRC’s Internal Manual Has Been updated

23rd January 2020

HMRC updates internal guidelines in midst of IR35 review. While the IR35-acjacent CEST tool has received a direct update, HMRC’s manual shows a number of prospective CEST questions, designed to determine tax status. HMRC’s internal manual has been updated to include roughly 70 questions on employment status. The guide was updated on 17 January, adding…
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Budget 2018 Date Confirmed

28th September 2018

Government will publish its next Budget on Monday 29 October 2018. The Chancellor of the Exchequer, Philip Hammond, has announced that the Budget will take place on 29th October. This will set out the government’s plan to build a stronger, more prosperous economy, building on the recent Spring Statement and last year’s Budget. ———- Original…
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HMRC Small Business Forum

19th April 2018

A new online tax forum and dedicated web-chat service for small businesses and the self-employed has been launched by HMRC. The Small Business Online Forum is a quick and easy way for small businesses to get answers to their tax questions, as well as help with: starting a business support for growing a business – including…
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NI increase for self-employed scrapped by government

16th March 2017

Philip Hammond has ditched plans to increase National Insurance contributions for the self-employed yesterday, in a humiliating U-turn just a week after the measure formed the centrepiece of his first budget. The chancellor signalled the abrupt change of heart in a letter to Conservative MP Andrew Tyrie, the chair of the treasury select committee, following…
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Are you due £432 for the marriage tax allowance?

13th March 2017

Astonishingly only two in five couples are claiming the £220-a-year marriage tax allowance, official figures show, highlighting the failure of the scheme introduced by former prime minister David Cameron. The allowance allows married couples to pass unused tax-free personal allowance between each other. HMRC figures show that of the 4.2m people eligible for the allowance,…
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16% of UK small businesses still use a ‘shoebox method’ to manage their accounts

7th March 2017

A new report has revealed that 65% of UK small enterprises are not prepared for Making Tax Digital. 16% of UK small businesses still use a ‘shoebox method’ to manage their accounts despite the fact all taxes will be managed online by 2020. According to research by UK200Group, just 35% of smaller firms use online…
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Do Britain’s wealthiest people get preferential treatment from HMRC?

31st January 2017

Commons public accounts committee says failure to crack down on wealthy tax dodgers undermines confidence in system. Britain’s wealthiest people appear to get preferential treatment from HM Revenue & Customs and are not being properly pursued for outstanding tax bills, parliament’s spending watchdog has concluded. HMRC’s failure to clamp down on rich tax dodgers is…
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