Tax

Contrary to popular belief, there is actually a distinct difference between tax avoidance and tax evasion. It’s very rare for a month to go by without a story splashed across the news regarding some big name business or celebrity who has been publicly shamed for doing one or the other. But what is the difference […]

Recently, there have been a number of cases where it has been claimed that “self employment” and some “self-employed” workers are only labelled as such so that companies can avoid tax and minimum wage laws. Fortunately, there is a piece of legislation in place to prevent tax avoidance – with regard to self employment – […]

The Government has scrapped plans to implement Making Tax Digital (MTD), ahead of the debate on the bill in the House of Commons. When Theresa May first announced the surprise general election on 8th June, the Chartered Institute of Taxation (CIOT) wrote a letter to Chancellor of the Exchequer, Philip Hammond. In the letter, the […]

Being a small and medium-sized enterprise (SME) has its perks; there are a number of tax benefits available, some of which have proved very useful. Unfortunately, many SMEs lack a knowledge of the benefits available to them which results in them unfairly missing out on what they’re entitled to. While there are many different tax […]

As you may or may not know, HMRC have announced that by 2020 most businesses will have to manage their tax affairs digitally. This includes companies, partnerships and self-employed taxpayers. Taxpayers will now also be expected to update HMRC on a quarterly basis, signalling the start of a new era for tax and accountancy. HMRC […]

It is becoming increasingly clear that a great deal of landlords out there are not completing a ‘landlord’ tax return and more often than not, this is through no fault of their own. It seems a significant number of landlords are completely unaware of the existence of the ‘landlord’ tax return, let alone aware that […]

HMRC has announced plans that aim to improve the level of customer service provided to customers. HMRC have stated they will do this by streamlining operations into three core groups. The new structure will move away from the old approach and instead be replaced with a Customer Strategy & Tax Design team, a Customer Service […]

Cambridge is well-known for its high volumes of cyclists. In a city where so many people travel around by bicycle, is everyone making the most of the tax breaks available? Most people are aware that you can claim mileage as an expense when you use your car for business purposes but are you aware that […]

Nobody wants to pay tax; we’d all like to pay as little as possible. Whilst it is our job, as advisors, to ensure our clients are fully compliant and pay only what they need to in tax there are some perfectly legal and legitimate ways you can reduce your bill. Pay more into your pension […]

HMRC has plans for a ‘penalty points’ system. Under these new plans, self-assessment tax return filers could face fines of up to triple the current maximum. The Government proposals were unveiled this week and if they come to fruition, it would mean the current £100 fine you currently get for missing the self-assessment deadline will […]