Latest blogs for Services
Latest blogs for Services
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Lorraine Kelly wins IR35 battle with HMRC; would you?
A recent series of HMRC high-profile court cases have brought Contractors back into the tax spotlight. TV presenters Lorraine Kelly, Kay Adams and Christa Ackroyd have all defended their working practices with mixed success. HMRC claimed all three should have been taxed as employees rather than business owners. HMRC won the case against Ackroyd…
New Home for Estate Agency
Whiting & Partners, The Corporate Finance Network’s representative firm in Suffolk, has successfully advised the shareholders of a Lettings & Estate Agency on their company sale. Chris Kelly, Partner at Whiting & Partners within their Corporate Finance team, began by confidentially marketing the business to gauge interest within the market. The process generated a…
£10 a day from the 1st May!
If you submitted your tax return after the filing deadline of 31 January, or you still have not submitted your tax return, then you will automatically be fined £100 for missing the deadline. In February, HMRC announced that they would be delaying issuing the late filing penalty notices due to Brexit. They have now…
Has your claim for marriage allowance transfer been refused?
HMRC have recently attempted to remove a marriage allowance transfer for a couple, where the transferor had less than the 10% personal allowance unused. This treatment is incorrect as outlined below: Background to the transfer The marriage allowance transfer was introduced from 5 April 2015 onwards and allows a person to transfer 10%…
Digital Records for VAT – HMRC Guidance published
From 1 April 2019, most businesses with a taxable turnover above £85,000 are required to follow the rules for Making Tax Digital for VAT. As a result, HMRC has published new guidance on record keeping, which explains what records a business needs to keep digitally if it has signed up for Making Tax Digital…
R&D Tax Relief: HMRC Try to Tackle Abuse
Many companies, not just those in the tech industry, will have benefitted from the generosity of R&D tax relief. Eligible R&D expenditure can be inflated by a notional 230% uplift, and a refund of tax claimed on tax that was never paid in the first place. Perhaps not unsurprisingly, HMRC have identified abuses of…
When doing nothing is best
From time to time, stock markets go through periods of uncertainty. This could be down to some poor economic news or perhaps due to a political crisis. The sharp falls that can be experienced at such times are understandably unsettling for investors. They can even tempt some to change their long-term plan by selling their…
Preparing for Brexit – Do you trade within the EU?
Your UK business may need an Economic Operator Registration and Identification (EORI) number if we leave the EU with no deal. What is an EORI number? An EORI number is a unique identifying number assigned to individual importers and exporters to track trade between the EU and non-EU countries. It’s used during Customs…
Payroll update: March 2019
Revised rates for the Annual Tax on Enveloped Dwellings