Archive | Latest News RSS feed for this section


HMRC’s “Making Tax Digital”

MTD is an acronym for Making Tax Digital, HMRC’s proposed way forward. It makes perfect sense – if HMRC could get taxpayers to report their income sooner, let’s say monthly, it leads to the possibility of collecting tax monthly.  This would be a huge improvement over the current system of collecting tax some 9-10 months […]

Continue Reading

Tax returns filed on Christmas day

HMRC tells us that 1,548 tax returns were filed on Christmas day 2012.  On Christmas Eve, 73 were filed in the last hour before midnight.  HMRC suggests that these late-night filers will experience “inner peace” (HMRC’s words). This could be read in a number of ways – the accuracy of the Christmas Eve late-nighters might […]

Continue Reading
Autumn Statement 2012

Mr Osborne’s Autumn Statement 2012

The main tax changes are usually announced in the spring budget, with the autumn statement reserved for finance matters.  However, we are told of some tax changes: Next year the personal allowance will be £9,440. Corporation tax main rate will be reduced by a further 1%.  For a typical family company in Cornwall, this reduction […]

Continue Reading

RTI (Real Time Information) – the new PAYE system

HMRC’s new PAYE system, called “Real Time Information” (RTI) will come into effect during 2013.  Under this new system employers will have to submit online details to HMRC each payday. In the old system we have now, as an employer you pay something to HMRC each month, but HMRC doesn’t actually know how much is […]

Continue Reading

Construction Industry Scheme Tax Withheld By HMRC

In August 2011 we made a request under the Freedom of Information Act 2000 for HMRC to disclose at a national level how much CIS tax had been collected on behalf of sub-contractors, but not repaid or credited to them, in the tax years 2008, 2009 and 2010. We made this request because of the […]

Continue Reading

Dealing with HMRC

By training and culture, HMRC staff are likely to think that every taxpayer may be hiding something. Usually a client says “I’ve got nothing to hide”, and like you, the majority of business people are straightforward and genuine, they pay their tax, and simply want to avoid any trouble with the tax office. If you […]

Continue Reading