HMRC has recently issued surveys in collaboration with IFF Research, to randomly selected LLP members, regarding the taxation of Limited Liability Partnerships (LLPs).
The majority of trusts need to be registered with HMRC’s Trusts Registration Service to comply with anti-money laundering regulations. The revenue is actively tracking and looking to fine trustees for non-compliance.
Armstrong Watson is is aiming to be recognised as “the best financial advisory firm to deal with, delivering the best client experience in the UK" and has become the first accounting firm to join The Institute of Customer Service
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.