• Points Based Penalties

    HMRCs New Points Based Penalty System

    A new points based penalties system for VAT tax is coming this April. Find out how this new penalty system will work.

    Tax
    Published 13.01.22
  • HMRC Scam Warning Press Release

    HMRC Warns Customers About Self Assessment Tricksters

    We want everybody to be safe from scams. HMRC have recently released a warning to Self Assessment customers about tricksters offering false tax rebates and more.

    Whyfield News
    Published 17.11.21
  • Reverse Charge VAT for Construction Services

    Reverse Charge VAT for Construction Services postponed by 12 months, meaning the change will not be implemented until 1st October 2020.

    Services
    Published 11.09.19
  • More on Construction Industry Reverse Charge VAT

    Find out more about the domestic reverse charge VAT on supplies and services within the scope of the Construction Industry Scheme, introduced by HMRC.

    Services
    Published 23.07.19
  • Construction Industry Reverse Charge

    The change will shift the responsibility for accounting for the VAT on ‘specified services’ from the supplier on to the recipient of the supply.

    Services
    Published 24.06.19
  • Why it makes sense to get your head in the cloud

    When it comes to the weather, clouds aren’t exactly everyone’s favourite forecast, but when it comes to accounting, well that’s a different matter … cloud based accounting is efficient, it’s effective and very much part of our digital future. From 1 April 2019, VAT registered businesses need to comply with HMRC’s Making Tax Digital regime

    Making Tax Digital
    Published 31.05.19
  • Tax Year personal tax rate changes and allowances 2019/20

    Personal Tax These come into force from the 2019/20 tax year including, an increase to the personal allowance and higher rate threshold, changes to residential inheritance tax and capital gains tax regime for non-UK residents Personal allowance and higher rate threshold The personal allowance increases on 6 April 2019 to £12,500 from £11,850. This will

    Tax
    Published 02.04.19
  • Are you ready to make tax digital? Most Cornish businesses aren’t.

    Making Tax Digital is the latest move by the Government to make it easier for individuals and business to get their tax right and stay of top of their affairs. But there’s one small problem with this plan … according to our research, it seems that businesses in Cornwall just aren’t ready for it at

    Making Tax Digital
    Published 27.02.19
  • High Income Child Benefit Charge (HICBC)

    Introduced by HMRC in 2013, the High Income Child Benefit Charge applies to parents earning over £50,000 adjusted income per year.  Total taxable income less pension contributions and gift-aid donations give the adjusted net income figure. HICBC places a tax charge of 1% on child benefit for each £100 above the £50,000 threshold the high-earner

    Services
    Published 27.02.19
  • Self-Assessment Tax Return Penalties

    Based on recent years HMRC will potentially issue at least 1 million late filing penalties.  It is important to be ahead of the game in terms of advising clients who have failed to meet the filing obligation and to be able to address disputes with HMRC. Finance Act 2009, Schedule 55 and Schedule 56 reformed

    Tax
    Published 22.02.19
  • Got HMRC approved software for Making Tax Digital?

    Making Tax Digital is on its way.  Next year, if your turnover is over the VAT threshold, you’ll need to submit returns online.  In readiness, HMRC has been working with more than 150 software suppliers who have said they’ll provide software for Making Tax Digital for VAT in time for April 2019. If you’ve got a system

    Making Tax Digital
    Published 15.08.18
  • Less than a year before tax becomes digital

    Cast your minds back to 2015. Hopefully it was a good year for you, with some great memories. For us in the accountancy world, something very significant was announced. Following the budget, the Government decided to lay out it’s vision for a ‘really simple’, ‘easy to use’ transformed digital tax system – Making Tax Digital

    Making Tax Digital
    Published 20.06.18