HMRC Archive
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New RTI Exemption for Some Small Businesses
Posted on March 26, 2013 | No CommentsThe new Real Time Information (RTI) PAYE requirements are due to roll out to all PAYE registered business from April 6th. There have been worries about how small businesses will cope with this scheme as it brings major changes to way businesses do their payroll.... -
Majority of UK Businesses are Sole Traders
Posted on January 7, 2013 | No CommentsWhen starting a new business many people choose to create a limited company. There are many reasons for doing this. Forming a limited company offers some protection for your business name and a lot of suppliers and potential customers prefer it. Being registered means you... -
HMRC Changes to the VAT Registration Process
Posted on December 7, 2012 | No CommentsHM Revenue and Customs have recently made some changes to the way VAT applications are made. In the past there was a single online form which anyone could use to submit a VAT application. The new system adds an extra step which slows the process... -
New Employers Expected to use RTI PAYE
Posted on December 4, 2012 | No CommentsThe introduction of Real Time Information (RTI) is part of a larger scheme being implemented by the government over the next couple of years. The idea is that employers will tell HMRC exactly how much everyone is getting paid every month. HMRC will then use... -
HMRC Find 36% of Small Businesses not Keeping Proper Records
Posted on November 2, 2012 | 1 CommentHM Revenue and Customs have been testing out a new scheme known as BRC or Business Records Checks. Modelled around initiatives already in place in Canada and Australia HMRC have been trialling BRC since April 2011. The basic idea is to do spot checks on... -
HMRC Campaign Targets Direct Sellers
Posted on October 5, 2012 | No CommentsHM Revenue and Customs have periodic crackdowns on different industries who they believe may not be paying enough tax. Recently they have focussed on eBay sellers, electricians and hair dressers. Their newest target is on ‘direct sellers’. HMRC define direct selling as “when you sell... -
Why your business should not wait to register for VAT
Posted on July 9, 2012 | No CommentsRegistering for VAT means that you become an unpaid tax collector on behalf of Her Majesty’s Revenue and Customs (HMRC). Once registered you have to give 20% of the price of any VATable goods or services you sell direct to the government. If you don’t... -
Private Limited Companies, Tax, Celebrities, PR and HMRC.
Posted on June 25, 2012 | No CommentsThe way companies and company directors pay tax has been at the heart of several leading news stories over the last week. We have had debates over the morality of celebrities and politicians avoiding tax through loopholes involving offshore companies. Meanwhile the HMRC has been... -
HMRC IR35 Test: When is a company not a company?
Posted on May 16, 2012 | No CommentsIt recently emerged that about 2000 UK civil servants were being paid as contractors through companies in order to avoid paying income tax and National Insurance. Whereas employees are liable to income tax, company owners can pay themselves dividends from their company which are liable... -
Selling on eBay? You may need an accountant.
Posted on May 2, 2012 | No CommentsHer Majesty’s Revenue and Customs (HMRC) have recently launched a new e-marketplaces campaign targeting people trading on sites such as eBay and Facebook Marketplace. While many online marketplaces including eBay and Amazon will sort out most of the VAT due on sales, HMRC are concerned...
