Articles
What Is Mini Umbrella Company Fraud?
HMRC has issued a warning that companies need to be wary of possible Mini Umbrella Company (MUC) fraud in their supply chains, particularly as there is an increased reliance on temporary labour in the UK. The Express reports that by engaging with MUCs, contractors can...
TaxWatch Charity Launches Public Interest Project
The charity TaxWatch has launched a project to enhance public interest in taxation law, Accountancy Daily reports. The purpose of the project is to improve the application of the rule of law in tax administration. The aim is to address concerns that the public interest...
What To Do In Case Of Cash Flow Disruption
Businesses have been forced to adapt considerably over the past year, and whilst many businesses have been able to continue trading in one form or another, there have often been consequential effects on their profits. For most businesses, financial liquidity and cash flow are the...
Working From Home Tax Relief Requires New Claim For 21/22 Tax Year
HMRC have confirmed that employees who are working from home to abide with coronavirus guidelines can continue to claim tax-relief on costs, the icaew.com website reports. However, they will need to make a new claim for the 2021/22 tax year for costs not reimbursed by...
PAC Quizzes HMRC Over Forgotten Freelancers
The Public Accounts Committee (PAC) has grilled HM Revenue and Customs (HMRC) over the forgotten limited company directors and freelancers who have been excluded the financial support they deserve from the UK Government during the COVID-19 pandemic. HMRC has distributed over £80 billion in financial...
Share Issues For SEIS/EIS Tax Relief
If you are investing in a company to utilise EIS/SEIS tax relief there are several issues and rules on the shares. It is at your discretion which investors receive SEIS and which receive EIS – typically you would raise under SEIS first. You can raise...
New Tax Year To Bring Fresh Financial Challenges
The start of April is a time for lots of funny fables, untrue stories that will hoodwink the gullible. But it is also a time of significant financial change – and that is no joke. With the new tax year taking effect from April 6th,...
HMRC Issues Another Scam Warning
Receiving a call and being told that HM Revenue & Customs (HMRC) is building a case against you, and even issuing a warrant is likely to get most people worrying, but this is one of the latest methods being used by scammers Cifas, the UK’s...
Top Tips For Managing Business Cash Flow
Keeping on top of cash flow is essential for managing and running your business effectively, regardless of its size, but it is especially important for small and medium-sized businesses. An article for Daily Business Magazine recently offered some advice to companies about how they can...
Tax Reliefs On SEIS and EIS Investments
For experienced investors, the main appeal of SEIS/EIS is the chance to invest in the newest and most exciting businesses with the added benefit of tax relief: Up to 50% SEIS and 30% EIS income tax relief, either against this year’s tax bill, or last...