HMRC Archive

  • Second income from hobby or small business

    HMRC Clamping Down on Hobby Businesses

    Research released by RBS in January claimed that 1 in 5 UK adults are ‘hidden entrepreneurs’. These are defined as people who are running small businesses in their spare time or who are using their spare time to plan a new business venture. 38% of...

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  • Real Time Information Exemptions

    New RTI Exemption for Some Small Businesses

    The 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....

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  • Chart of UK Business Types

    Majority of UK Businesses are Sole Traders

    When 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...

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  • Quick online VAT registration

    HMRC Changes to the VAT Registration Process

    HM 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...

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  • New employers to use RTI

    New Employers Expected to use RTI PAYE

    The 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...

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  • HMRC Bookkeeping checks

    HMRC Find 36% of Small Businesses not Keeping Proper Records

    HM 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...

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  • HMRC Target Direct Sellers

    HMRC Campaign Targets Direct Sellers

    HM 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...

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  • Registering for VAT with HMRC

    Why your business should not wait to register for VAT

    Registering 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...

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  • Tax and Private Limited Companies

    Private Limited Companies, Tax, Celebrities, PR and HMRC.

    The 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...

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  • New Business Tax Test

    HMRC IR35 Test: When is a company not a company?

    It 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...

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  • Customer Testimonial

    I have just started up my own company ... I have had many queries, you answered all my questions, whilst being really helpful and professional.

    Richard


    We are happy with all business we have conducted with you and are quite happy to recommend you on what you have done and assistance you given us up to date.

    Stephen


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