Tag Archives: HMRC

Incorrectly claimed SEISS

HMRC Enquiry

As the 2021 Tax Return gears up, HM Revenue & Customs has confirmed that it will issue harsh penalties to tax payers who have incorrectly claimed SEISS, and subsequently not taken advantage of opportunities to voluntarily repay the excess amounts. The rules state that overpayments must be notified to HMRC […]

Another unusual letter from HMRC?

HMRC Enquiry

Due to increased activity by fraudsters during the pandemic as they attempt to illegally access Covid-19 grants and loans, HMRC has decided to be more wary when submitting tax (including VAT) payments to taxpayers. Accordingly, HMRC is now writing to taxpayers who have claimed a recent tax refund that is […]

HMRC enquiries into CJRS claims

HMRC Enquiry

There is a general impression, both in mainstream media and, more importantly, within HMRC, that up to 10% of claims for CJRS may be “inaccurate.” HMRC has announced that it will be enquiring into claims and it anticipates that about 25% of all claims will be looked into. Whilst we […]

Claiming the third tranche of SEISS – a Sting in the Tail?

SEISS

HM Revenue & Customs have slightly changed the requirements for claiming the third tranche of the SEISS compared to the previous two tranches – but the result may have a major impact on the self employed’s ability to claim the SEISS.   When claiming the first two SEISS grants the […]

Letter from the Tax Office?

Letter from HMRC

We have been advised that HMRC is sending computer generated letters to taxpayers when the submitted 2019 personal tax return contains information that differs from the information held by HMRC.   HMRC uses data from many sources to cross check information reported on self- assessment tax returns. It could open […]

Has Covid-19 affected my UK tax residency?

non resident tax

The rules regarding UK residency and UK tax position are not straightforward and we recommend that this is carefully reviewed to ensure your peace of mind. As well as the usual regulations, HM Revenue & Customs’ rules include a 60 day “exceptional circumstance” get out clause. However, this may not […]

Company cars and private use

company car

The deadline for submission of forms P11D and P11D(b) to HMRC advising of benefits in kind provided to employees, is 7 July 2021. Employers need to look at this now, particularly as the provision of company cars and furlough may provide problems. A benefit in kind tax charge arises where […]

HMRC’s Property Disposal Service

property tax

Have you recently sold a residential property in the UK?  If so, it is important you understand new tax rules, which might mean you need to report and pay Capital Gains Tax within 30 days.    Over recent weeks COVID-19 has dominated the headlines and any new tax developments have […]

Corporation tax losses as a result of Covid-19?

tax loss

Is your company expecting to make a loss as a result of the global pandemic?   If so, you may be interested to learn that HMRC has recently updated its guidance relating to repayment of corporation tax based on anticipated losses.   Tax repayments are possible where surplus losses made […]

HMRC impose compliance and enforcement powers for false Coronavirus Job Retention Scheme claims

Furlough

The most basic conditions of the Coronavirus Job Retention Scheme (CJRS) is that your business is / will be adversely affected by Covid-19 and that employees on furlough are not allowed to do any work whilst on furlough.  A “snitch line” for false furlough claims has already seen thousands of […]