Posts By: ilyas Patel

Pension Auto-Enrolment is legislation from the Government and is now underway and is obligatory for all companies with 30 employees or less by 2016. The aim of auto-enrolment is to encourage employees to start saving in their own personal pension and over the next few years businesses within the UK has to offer a workplace… Read more »

MINI ONE STOP SHOP (MOSS) This sounds like a friendly retail outlet where you might buy a pint of milk on a Sunday evening. In fact it is short-hand for the online portal which UK businesses should use from 2015 to account for VAT they owe in respect of digital services provided to customers in… Read more »

Approximately 99% of UK  businesses urgently need to prepare for auto-enrolment of their staff into pension schemes.  It is expected that accountancy firms will be drafted in to help businesses with their arrangements as the staging deadline looms next year. Since the scheme began two years ago, almost £28,000 business have been automatically enrolled in… Read more »

A simple guide to Research & Development:- R D Leaflet

More than 5 million people have paid the wrong amount of tax with many others still to face further payments to HMRC in order to make up the difference, according to numbers revealed by the taxman. It is reported that approx. 3.5 million paid not enough tax through PAYE in 2013/14 and will now have to… Read more »

With the recovering economy and rising house prices it is expected that tens of thousands more people will be pushed over the £325,000 threshold for paying inheritance tax.  This would see the number of families charged on the estates they inherit increase by 35% to 35,600 during the course of this financial year. The number… Read more »

It has been reported that nearly half of VAT fines against businesses are levied incorrectly. HMRC issued 17,200 automatic penalties for late filing of VAT in 2013 and approximately 49% were overturned when taxpayers requested a review. HMRC’s internal  review system, which was set up in 2009, re-examines VAT decisions imposed on businesses in relation to… Read more »

The first-tier tribunal has dismissed a tax avoidance scheme whereby an IT contractor, Mr Philip Boyle was paid in the form of loans from an offshore company. Philip Boyle argued that his contractor loan tax avoidance scheme worked and the money he had received was not taxable.  He went on to explain that if he… Read more »

Trinity Mirror has successfully appealed against an HMRC penalty for being a day late with their VAT return and payment in 2008, saying they felt the charge was not compliant with EU principle of proportionality and considered it more severe than the gravity of the infringement warranted. In the first tier tax tribunal, Judge Dr… Read more »

In the March Budget HMRC were given powers to take money from bank accounts on debtors who owe more than £1000 in taxation,  but both a tax reform group and ACCA feel that this could lead to an abuse of power.  In the Budget papers it said that the change would bring the UK in… Read more »