Making Tax Digital
Making Tax Digital for VAT – New penalties for non-compliance HMRC have issued guidance for VAT-registered business and their agents on how to avoid penalties for non-compliance with the Making Tax Digital for VAT (MTD) rules. In particular, there is a new £400 per return penalty if you file a return but do not use…
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Tax Efficient Savings
HMRC have recently updated their guidance for companies looking to attract investors to buy shares in their company. If structured correctly, and if the company qualifies under the Enterprise Investment Scheme (EIS) or the Seed EIS rules, the investors can potentially take advantage of a number of generous tax breaks. Under the EIS, the company…
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Cash flow is so Important
Do you agree? Most of our other clients do. In this economy CASH IS KING and managing your cash flow is more important than ever. If you are concerned about the future of the economy, then take some time to reflect on where you are and what could happen in the next few months. It…
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High Income Benefit Charge Catching You Out?
Mistakes made when claiming higher rate child benefit are most frequently the result of poor communication from HMRC and it is more difficult for those with complex, fluctuating earnings The high income child benefit charge (HICBC) raised £416m in 2019-20 but it is a hard tax charge to administer as many of the families affected…
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