Tag Archives: 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 […]

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

A benefit in kind tax charge arises where a company car is available for private use by an employee. The charge is reduced proportionately for any period of unavailability of at least 30 days. This period can span two tax years. H M Revenue & Customs’ reading of the legislation […]

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 […]

What are the tax implications of the July 2020 Summer Statement for homeowners?

homeowner tax

If home is where the heart is, homeowners are consistently at the heart of any Budget and last week’s Summer Statement proved no exception.   Prior to the Chancellor Rishi Sunak’s announcement last week there were whispers of a Stamp Duty Land Tax (SDLT) slash to be introduced from Autumn […]