THP Blog
MTD moves a step closer for half a million businesses
Posted by Jon Pryse-Jones on October 26, 2018
On the 16th October HMRC announced that it was extending its pilot scheme of Making Tax Digital (MTD) to around half a million businesses. Find out if this includes your business and what you will need to do
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Football agent scores massive own goal
Posted by Jon Pryse-Jones on August 24, 2018
HMRC have been quick to publicise their victory in a recent tax case that resulted in well-known former football agent, Jerome Anderson, facing a £1.2m tax bill.
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Working from home? Here’s how to do it….
Posted by Jon Pryse-Jones on August 17, 2018
The proportion of people working from home is on the rise, but many people contemplating this option are puzzled by the tax consequences and in particular, Capital Gains Tax.
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These days the taxman is less likely to raid your property – but is it good news?
Posted by Ben Locker on August 15, 2018
According to law firm Pinsent Masons, HMRC property raids have dropped by 30% due to the taxman developing more effective and less expensive methods of gathering evidence. In other words, if your tax affairs aren’t in order, you’re much more likely to be discovered and investigated.
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Undeclared offshore assets? Better watch out!
Posted by Jon Pryse-Jones on August 10, 2018
HMRC is urging UK taxpayers to declare any foreign income or profits on offshore assets before 30 September to avoid higher tax penalties, as Common Reporting Standard (CRS) will significantly enhance the ability to detect offshore non-compliance.
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Your Tax credit claim – are you sure it’s right?
Posted by Jon Pryse-Jones on July 30, 2018
Many tax credit applications have been made incorrectly and as a result, claimants are at risk of missing out on hundreds of pounds from their tax credits due to accidentally reporting their income incorrectly.
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31 July – Tax Credits claim deadline
Posted by Jon Pryse-Jones on July 27, 2018
Around a million people still need to renew their tax credits, ahead of the 31 July deadline. If you have claimed working tax credit and/or child tax credit at any time during the 2017/2018 tax year, you need to renew or your payments could be stopped.
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Got undeclared money offshore? You may need to act now to avoid huge penalties.
Posted by Jon Pryse-Jones on July 16, 2018
If you have had overseas assets or income in the past, you may want to spend at least some of your summer making sure those affairs are in order.
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Unmarried couples to receive tax breaks?
Posted by Jon Pryse-Jones on July 5, 2018
A new ruling from the Supreme Court may see changes to tax breaks for unmarried couples. A recent case may set precedence into whether unmarried couples receive the same tax benefits as married couples or those in same-sex civil partnerships.
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HMRC tackles its own fraudsters!
Posted by Jon Pryse-Jones on June 4, 2018
There has been an endless growth in illegal sites associated with HMRC, with the scammers creating websites that look similar to HMRC’s official site with the call numbers being at an extortionate costs. However, HMRC has found a way to tackle these fraudsters saving the public £2.4m from these phone scams.
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