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View When Child Benefit Becomes A Liability

When Child Benefit Becomes A Liability

A two parent, two child family can claim £34.40 per week in Child Benefit (CB). In a tax year this adds up to £1,789. As is often the case in life, this becomes just part of the housekeeping and is spent. However, let’s look at Mary, John and their two kids. The child benefit is…

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View Not long until GDPR becomes law

Not long until GDPR becomes law

GDPR – 66 days to go A reminder that the General Data Protection Regulation is due to become law 25 May 2018. At the time of writing this blog, that’s 66 days to become compliant. Why should you take it seriously? Because there are significant financial penalties for getting it wrong: meaning fines to you…

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View One day late VAT payment meant £297K fine

One day late VAT payment meant £297K fine

Have you heard the one about the £297,845 fine for late VAT payment by just one day? That’s right. In a recent court case a company was fined £297,845 for being one day late in paying their VAT. This only goes to show the unpredictable, and seemingly harsh outcomes of HMRC’s VAT surcharging rules. Why…

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View Scam text messages getting stopped by HMRC

Scam text messages getting stopped by HMRC

Thousands of scam text messages have been intercepted by HMRC, with 90 percent of the most convincing texts now stopped before reaching taxpayer’s phones. The milestone comes during Take Five To Stop Fraud Week, with the tax authority working to raise awareness of the tell-tale signs of a scam ahead of the Self-Assessment deadline. Fraudsters…

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View Important News about Making Tax Digital

Important News about Making Tax Digital

We have Important news about Making Tax Digital Is your accounting system fully digital, with no manual input required once sales and purchases have been entered? If you’re unsure, or just don’t know, then read on. Straight for the HMRC mouth Our friendly in-house ex HMRC Vat Inspector sat with the decision makers this week, who…

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View Support for Carillion subcontractors affected by liquidation

Support for Carillion subcontractors affected by liquidation

There is practical support for Carillion subcontractors affected by liquidation. If, as is widely predicted, the Carillion liquidation proceeds, sub-contractors owed money by Carillion will have to join the list of unsecured creditors and are forecast to receive no more than 1p in the £ as a pay-out. Apparently, most Carillion suppliers have been keep waiting for…

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View An unhappy new scam for the new year

An unhappy new scam for the new year

Unfortunately, the season seems to bring out the good and the not so good in human nature with a new scam that targets the vulnerable. Readers are advised to be wary of the following scam that is targeted at vulnerable and elderly taxpayers. The notice issued by HMRC says: HM Revenue and Customs (HMRC) is…

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