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Posts Tagged ‘HMRC’

Cryptocurrency – What Is A Sale – Gain Or Income?

Cryptocurrency – What Is A Sale – Gain Or Income?

Cryptocurrencies, such as Bitcoin, are a type of electronic cash; designed to stand apart from any government or bank they work through a computer network. Records confirming Individual ownership of the 'coins' are stored in a digital ledger with secure transaction records. Coins can...

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Budget 2020 Overview

Budget 2020 Overview

Budget 2020 Overview Introduction So was it the Coronavirus Budget, or the Infrastructure Budget? Or was it, as the Chancellor declared at the end of his speech, the ‘people’s Budget from a people’s government?’ It was certainly a Budget that was high...

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IT Consultant Held Contract For Services

IT Consultant Held Contract For Services

HMRC’s application of the IR35 rules remains ambiguous after an IT contractor successfully appealed to the First Tier Tribunal (FTT) against a tax charge arising under the intermediaries' legislation. In RALC Consulting Ltd v HMRC [2019] TC 07474, the FTT allowed...

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Tax-Free Childcare Update

Tax-Free Childcare Update

HMRC have recently run a campaign to remind people that they could be missing out on up to £2,000 per child, per year, towards the cost of childcare. Working parents and guardians may be eligible to receive government top-ups of £2...

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Penalties For Late Self-Assessment Returns

Penalties For Late Self-Assessment Returns

The normal due date for a self-assessment return where filed online is 31 January after the end of the tax year to which it relates. This means that self-assessment tax returns for 2017/18 should have been filed online by midnight...

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Reporting Expenses And Benefits For 2018/19

Reporting Expenses And Benefits For 2018/19

Where employees were provided with taxable benefits and expenses in 2018/19, these must be notified to HMRC. The reporting requirements depend on whether the benefits were payrolled or not. Benefits not payrolled Taxable benefits that were not payrolled in 2018/19 must be reported...

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MTD Software – What Do You Need?

MTD Software – What Do You Need?

Making Tax Digital (MTD) for VAT went live on 1 April 2019. VAT registered businesses with VATable turnover above the VAT registration threshold of £85,000 are required to comply with the requirements of MTD for VAT from the start of...

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