Tax Archive

  • 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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  • Seed investment scheme

    What is the Seed Enterprise Investment Scheme?

    One of the biggest problems for new start-up companies is raising their initial seed capital, the money which they need to get going and test their ideas. For this reason the government has adapted the existing Enterprise Investment Scheme to create the Seed Enterprise Investment...

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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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  • Tax-simplification

    The Office of Tax Simplification – “Britain Is Open For Business”

    News from the Government shows the upcoming creation of a new body known as The Office of Tax Simplification. Just like the body’s title, the idea is simplifying things for business. A number of new measures have been introduced lately which make it clear that...

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  • HMRC-Fraud

    HMRC Clamps Down on Tax Fraud

    In recent news, HMRC has demonstrated its tough stance when it comes to tax fraud. A London accountant, a 21 strong criminal gang and 11 members of a Ukrainian gang have all been subject to legal action, facing jail time and repayment orders. With the...

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  • HMRC and Retrospective Tax

    HMRC and Retrospective Tax

    In a recent article (Will retrospective taxes affect us all?), the BBC have highlighted the dangers surrounding tax law and its changing nature with regard to business. Obviously wishing to reduce the tax that they have to pay, over the years a number of business...

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