Category: News Articles

From 1st October 2012 HMRC changed the VAT treatment of approved alterations to protected buildings and the first grants of a major interest in a substantially reconstructed protected building.  It affects all listed residential dwellings and listed buildings used for charitable or other residential purposes and places of worship. Under the new rules from HMRC,…

We recently reported that HMRC is actively recovering unpaid tax and we have found more details which support this. HMRC has apparently received the names, addresses and account details of every British account holder of HSBC Bank Jersey. The Daily Telegraph reports that this list identifies up to 4,388 people holding nearly £700 million in offshore…

An interesting example of possible tax avoidance has been in the public view recently. A company based in the Channel Islands provides staff, mostly teachers, to schools on the mainland UK. As they are based off-shore the company does not have to pay employer’s National Insurance contributions. Such organisations are known as ‘umbrella’ companies. This…

Did you know last week was Living Wage Week? You’ve probably heard about the living wage in the press recently, but what’s it all about and how could it affect you? The Living Wage Foundation encourages employers to pay a living wage rather than the minimum wage as they ‘believe work should be the surest…

From 1st October 2012 the National Minimum Wage will increase.  The new rate will be £6.19 an hour for workers aged 21 and over. The apprentice rate, for apprentices under 19, or over 19 and in the first year of the apprenticeship, will increase to £2.65. The rates for 18-20 year olds and under 18s…

According to a recent newspaper article, there have recently been two surveys from Markit and Deloitte which confirm official figures to confirm our recession is coming to an end. The surveys found that although family finances in October deteriorated, the scale of this squeeze was the least for nearly two years. Deloitte claim that consumer…

We’ve recently learned that motor traders and restaurant owners in the South West are to be targeted by new HMRC task forces specifically created to collect tax payments. There are twelve of these task forces and they are determined to collect millions of pounds of unpaid taxes. So fat they have collected extra tax, fines…

Following our recent comments about public attitudes to tax evasion changing, we’ve recently seen a blog in the press about a plumber who has been jailed for tax evasion.   Ian Cowie of the Daily Telegraph reported that despite the public backlash against a comment by a Treasury minister that paying trades people in cash…

When tips are given by customers these also need to be accounted for in the Employers payroll.  There are various rules which apply: 1. Money given directly to an employee and not passed on to the employer: When an employee is given tips directly from a customer and is allowed to keep them you do…

A national newspaper has reported in the last few days that tax payers could face a wait for nearly half an hour when calling the HMRC. The Low Incomes Tax Reforms campaign group did a mystery shop last week, making three telephone calls posing as a PAYE caller, a pensioner and a tax credit claimant.…

Businesses that receive tips or charge their customer Service Charges may be unsure as to whether they are liable for VAT on the money they receive.  According to HMRC the treatment of the money received depends on whether the money is freely given by the customer o a compulsory charge by the business. When a…

In 2010 HM Revenue and Customs gained new powers regarding “information requests” and compliance visits in connection with your tax affairs.  As you know these investigations have increased exponentially in recent years. The purpose is to monitor the quality of accounting records in support of future tax return.  Although we are aware that HMRC must…