Open banking, MTD and The Personal Tax Account – what does 2018 have in store for us?

Welcome to 2018. As I write this the last remaining tax returns head off to the HMRC and so I take this chance to look at what the future has in store for us. Open Banking A quiet little deadline passed in January with the introduction of open banking. It is a series of new […]

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Let Property Disclosure Campaign

HMRC’s Let Property Disclosure Campaign targets landlords who have undeclared income from residential property lettings. The campaign was launched in September 2013 and currently does not have an end date. The campaign offers landlords the opportunity to get their tax affairs up to date under the best available terms. HMRC will allow landlords to come […]

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Tax matters

HELP FOR THE DISADVANTAGED A first-of-its-kind employer toolkit designed to help businesses recruit and retain more single parents and care leavers has been launched today. People from disadvantaged groups face challenges that many others do not – such as having to work around childcare requirements, lack of formal qualifications or gaps in their employment history. […]

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Gary’s Budget Thing …

To start with I’d like to say that in this article I am stating facts and referencing data that I have access to, not presenting a political alliance. Not normally one to keep my opinions to myself, in this instance I think it is important to use my column to present the facts and not […]

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Get it in …

HMRC has recently published an update on the amount of tax they have collected since the introduction of the current batch of targeted campaigns against tax avoidance. HMRC’s approach since 2007 has revolved around offering specific sectors and areas including property sales, plumbers, electricians and members of the medical profession. In total HMRC says that […]

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Making Tax Digital will be the Biggest Thing to Affect Drivers in this Industry since Licensing

HMRC claim that five million people are now using digital personal tax accounts (PTAs) as part of the campaign to move all tax submissions online. Making Tax Digital is supposed to end the tax return as we know it, with solely digital quarterly returns scheduled to be in effect by 2018. Personal tax accounts, launched […]

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Dear Diary … The MTD Diary Part Two

The purpose of the HMRC visit was to conduct the mapping part of the new MTD website. The steps involved were: To link our current agent codes to our new MTD login. Log in with our new MTD login and then put in our company UTR and our current agent code. This was then checked […]

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Making Tax Digital, HMRC wants to take away our fear?

Now I’m scared … The new ‘Making Tax Digital’ initiative wants us all to make quarterly online digital submissions within two years, yes that’s right, ALL of us. Jim Hara (HMRC’s newly appointed tax assurance officer) declared in a letter to the Financial Times that businesses will not be expected to file accounts five times […]

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“Help I Don’t Exist”! Advice for the Driver who isn’t really here

Many years ago, in line with the beginning of driver licensing, a report was made to the government compiled by Lord Grabiner QC. It made recommendations from his review of the ‘informal economy’ (ghost economy). He said that we need more prosecutions as quickly as possible and the government listened. This report led to a […]

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Watch Out, HMRC Debtors

The new Direct Recovery of Debts (DRD) powers will allow HMRC to target non-compliant taxpayers who owe more than £1,000 and who have sufficient funds in their accounts to pay. The proposals included measures to leave a minimum of £5,000 so as not to create unnecessary financial trouble for those affected. However, HMRC will be […]

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