HMRC has warned tax credits claimants should be alert to potential scams. Visit GOV.UK for HMRC’s scams checklist to find out how to report scams and for information on how to recognise genuine HMRC contacts https://www.gov.uk/guidance/identify-hmrc-related-scam-phone-calls-emails-and-text-messages In the year to 30 April 2021, HMRC responded to more than 1,154,300 referrals of suspicious contact from the…
Category Archives: Blog
If you have children under 12 who attend a nursery, after school club, playscheme, childminder or you are considering sending them to a summer camp you should think about setting up a tax-free childcare account. The government adds 25% to the amounts that you save in the account up to £2,000 for each child so…
We are looking to recruit an experienced personal tax compliance and planning assistant to join our growing team in Carlisle. This is a great opportunity for someone who believes there’s more to tax than tax returns! We’ve earned a reputation for honesty, integrity and fairness and we’re committed to serving our local community. The role…
Carlisle City Council are opening a second round of applications for the Local Recovery Grant (ARG) on Monday 12 July. Funding is limited so applications will close on Monday 19 July. To apply for this fund you do not need to have applied for a business grant before. For further details go to www.carlisle.gov.uk/news-and-events/business-support
A recent case before the tax tribunal has confirmed that all of a company’s shares are ordinary shares except those that carry a fixed rate of return. This is crucial as CGT business asset disposal (BAD) relief requires a shareholder to be entitled to at least 5% of a company’s ordinary share capital in addition…
HMRC are urging businesses to look out for the use of mini-umbrella companies (MUCs) to pay contractors supplying their labour via agencies and other intermediaries. Businesses need to be aware of the financial and reputational risks of such entities in their labour supply chain and carry out due diligence to minimise those risks. You may…
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P11d forms reporting benefits in kind provided to employees and directors need to be submitted to HMRC by 6 July. Where a company car is “unavailable” for private use for 30 or more consecutive days the benefit is proportionately reduced. During the various lockdown periods many employees and directors have not been using their company…
The government has announced a temporary extension to the loss carry back rules for trading losses of both companies and unincorporated businesses. For accounting periods ending between 1 April 2020 and 31 March 2022 losses can be carried back 3 years, capped at £2m per year for the extended 2 years. Extended loss carry back…
Another consequence of the lockdown periods is that employees may have driven fewer private miles in their company cars, particularly where they have not been driving to the office. If they are to avoid being taxed on the provision of private fuel they need to fully reimburse their employer for the cost of private fuel…
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The Personal Tax Account (PTA) lets people check and manage their tax affairs. It was launched in November 2015 and HMRC reports that over 14m people accessed their account in the last tax year (2020/21). That saw a 21% increase in PTA sessions compared to 2019/20, with over 53m user sessions. If you have not…
