The Government has further committed to investing in HMRC’s ability to ensure that everyone pays the tax they are due to pay. This will include allowing HMRC to target its debt collection activity, pursuing those with tax debts who can afford to pay, and providing support to those who are temporarily unable to pay. It is estimated to raise £5 billion over the next five years.
Jeremy Hunt has delivered an Autumn Statement he said will grow the economy and back British businesses, but while many of the fiscal plans announced seem generous, businesses may still see increased financial pressure in 2024.
HMRC have published a new factsheet which sets out the penalties that may be imposed for failing to comply with Making Tax Digital (MTD) for VAT requirements. Here, our Head of VAT & Indirect Tax, Hydeam Sulton, describes the penalties and how you can avoid them.
For the tax year 2022/2023 the Government recently announced a 1.25% Health and Social Care Levy charge that will form part of the National Insurance Contributions for employees and employers, and from 2023/2024 a separate deduction for Health and Social Care levy will be introduced.
At the height of the pandemic, the Government offered emergency loans up to £50,000 to businesses to cover their running costs at a time when trading was very difficult, if not impossible.
If you can pay your taxes then you should do so – but if you’re struggling, HMRC can work with you to agree a plan based on your financial position, here we explain how...
Recent research by the Association of Practising Accountants (APA) found that many businesses are still struggling with the impact of Covid-19 and the uncertain economic outlook
In a significant victory for one Caravan Park Group, BHHPA member, Armstrong Watson, has been given HMRC’s agreement to a new form of valuation and VAT treatment for removable contents sold as parts of caravans and lodges, which could lead to substantial reimbursements for other holiday park businesses.