HMRC have announced that they are closing the Self Assessment telephone helpline for three months in order to re-direct staff to clear up the postal backlog. The closure comes after a decision to close its VAT registration helpline last month. Taxpayers who have tax queries are now being directed to search for answers to their queries online.
Nichola's SME Tax W-update 8 June 2023
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Following research and consultation, HMRC is consulting on new proposals for tackling PAYE non-compliance by ‘Umbrella companies’. Quite why we need more new rules when we could surely just sweep up any stragglers by broadening the Agency rules in Chapter 7 Part 2 ITEPA 2003 is beyond me. We will keep following the consultations for you and see what comes out.
Nichola's SME Tax W-update 1 June 2023
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There is news that the EU is going to introduce a new €7 visitor fee, yet another thing to slow us down at its borders! It has got me wondering just how long it will be before a British government can't resist a similar measure. In terms of administration, surely all anyone needs is a secure QR code at the border?
Nichola's SME Tax W-update 25 May 2023
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We have a diverse collection of news items for you this week. We pondered as to whether your average SME owner or adviser would be interested in 'Tonnage Tax'. At least one of us had seen this apply to a client of a small practice and we concluded that as this is something of a rarity: a new election to apply this tax, it was better to mention it than to stay silent on the matter.
Employed? Claim expenses via HMRC's portal
HMRC is urging employees that they can claim for employment-related expenses directly from the Gov.uk website each year. Currently 70% of claimants are using repayment agents, who often take a hefty cut of any tax refund due.
ICAEW changes to a verifiable CPD model
The Institute of Chartered Accountants in England & Wales (ICAEW) is moving away from the Continuing Professional Development (CPD) 'output-based' model, where members self-assess their needs to complete an amount of CPD appropriate to their role, to a model which sets a minimum number of hours including a minimum number of hours that are 'verifiable' depending on your role as an accountant.
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