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Fraudster Warning From HMRC as Self-Assessment Deadline Looms

HM Revenue and Customs (HMRC) are warning self-assessment customers to be on alert for potential scams, as the 31 January tax return deadline approaches. HMRC's dedicated Customer Protection team is tasked with identifying and shutting down scams but the...

Computer Guru Wins Big VAT Rebate on Luxury Cars Used for Business

VAT can be reclaimed on motor vehicles that are used, and made available for use, solely for business purposes – but that can be extremely difficult to prove. In one case, however, a computer specialist was granted a £20,805 VAT rebate after...

Twelve Month Reprieve on Construction Industry VAT Changes

The introduction of the new VAT domestic reverse charge for construction services , originally due this October, has been postponed until October 2020. The extended timeframe comes after businesses in the construction sector raised concerns that they would...

HMRC Threaten Investigation Over Disguised Remuneration Schemes

Sometimes, it is difficult to understand why many people don't seem to put as much effort into making profits as they do into trying to avoid paying tax. Tax avoidance is a red rag to a bull as far as HM Revenue and Customs (HMRC) are concerned. They have...

Ripped Off By a Crooked Employee? You May Be Entitled to Tax Relief

Losing money at the hands of a crooked employee is a sadly familiar experience for many businesses, but what are the tax consequences of such deceit? The First-tier Tribunal (FTT) tackled that issue in the case of a catering supplies company whose manager...

Construction Industry VAT Changes Ahead

Businesses in the construction industry are reminded that on 1 October 2019 the new VAT domestic reverse charge will come into force. This is being introduced as an anti-fraud measure and will see a major change in accounting for VAT on some construction...

HMRC Errors Lead to Loss of Tax

Although getting one's tax return right is to be recommended, there are many grey areas in tax and, when HM Revenue and Customs (HMRC) make mistakes at their end, the effect can be to exonerate the taxpayer from liability for all or part of the tax, interest...

Enabling Tax Non-Compliance

There are hundreds of thousands of companies in tax havens and the true commercial value added by them is probably trivial, whereas the tax avoided or evaded runs into billions, so it is no wonder that governments are mounting an ever-increasing effort to...

Disguised Remuneration Clarification By HMRC

An attack by HM Revenue and Customs (HMRC) on 'disguised remuneration' schemes, wherein a director of a company takes money out of the company in the form of a loan which is never intended to be repaid, has been widely reported. Such schemes were widely...

Three Quarters of Firms Not Aware of Anti-Tax Evasion Law

A recent survey by HM Revenue and Customs (HMRC) shows that only one in four UK businesses are aware of the penalties they could face under the Criminal Finances Act 2017 if they fail to prevent the criminal facilitation of tax evasion by any person or...
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