Ask Alexa to contact HMRC for help

HMRC has launched new and innovative technology to help more than 3 million customers renew their tax credits.   HMRC has developed a customer-focused service through Amazon Alexa specifically for those seeking help with their tax credits renewals.   Customers with Amazon Alexa-enabled devices can ask Alexa to ‘open HMRC’ and ask for help and[…]

CGT on property sales due with 30 days from 2020

Draft legislation in the next Finance Bill will introduce significant changes to the reporting of residential property disposals and the payment of CGT from 6 April 2020.   Currently, non-UK resident taxpayers disposing of UK residential property are required to report the disposal to HMRC within 30 days. The new legislation extends this reporting obligation[…]

Spreading the 2019 Loan Charge

HMRC require you to register with them by 30 September 2018 to settle taxes due under the new rules for loan charges, on preferential terms, before the outstanding loan charge arises on 5 April 2019.   This new tax charge applies to any outstanding employment loans that exist as a result of a disguised remuneration tax[…]

Making Tax Digital For VAT Guidance Issue

HMRC have now issued their detailed guidance on the digital record keeping and return requirements for Making Tax Digital (MTD) for VAT.    VAT Notice 700/22 clarifies that spreadsheets may still be used to keep business records provided that there is bridging software that links to the Government gateway.   There will however be a[…]

The Benefits of Online Accounting

  MMG Archbold is a fully accredited Quickbooks Accountancy. Here are some of the benefits of using online accounting, specifically Quickbooks:   Accessible Users can access the software remotely to view reports and review the organisation’s finances. The app is also available for your smartphone or tablet You can add unlimited users with different levels[…]

Making Tax Digital – what you need to know.

  Why are we making tax digital? Her Majesty’s Revenue and Customs (HMRC) proposes to move to a fully digital based tax system. By the end of the 2020/21 tax year the way that businesses, including landlords, currently interact and liaise with HMRC will change beyond all recognition. This initiative is known as “Making Tax[…]

Cutting the cost of childcare

  For the majority of working parents, especially those with preschool children, the cost of good childcare can be a significant monthly expense, often in excess of the cost of a mortgage. There isn’t much you can do to reduce the cost of childcare, however, there are currently two schemes which can help reduce the[…]

Scottish Tax Rates 2018/19

On 20 February 2018 the Scottish Parliament passed its Budget Bill for 2018/19 which saw the introduction of five tax bands for non-savings income. This includes earned income and benefits, profits from self-employment, rental profits and pension income (including State Pension). The Scottish tax rates do not apply to dividend or savings income as these[…]

Off payroll public sector workers – is it worth it?

If you provide services for the public sector, you could be paying double taxation on your PAYE/NIC.   The Public Sector Body assesses the status of a contract when it is awarded to a company, or when the first payment after 6 April 2017 is made. This assessment will normally involve HMRC’s employment status tool and[…]