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Plumbers in the firing line with HMRC

HMRC recently suggested that plumbers and gas engineers had been singled out as their next target for tax affairs policing.  So today, HMRC notified us that 50,000 letters are being sent out to the trade “alerting them to the chance to take advantage of a special time-limited tax plan to put right any gaps that might …read more

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HMRC bookkeeping checks – what should you do?

When HMRC announced plans that they would be targeting 50,000 businesses per year over the next four years it was supposed to be the start of a consultation period to judge responses.  However, it looks as though this consultation period finished as quickly as it started and HMRC have now announced that they will be starting …read more

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A new year and new start?

Now that we are firmly in the new tax year (Happy New Year – sorry a corny Accountant joke) is it time to stand back and take a fresh look at your business and give it a little check up?  It is far too easy to concentrate on what earns you money directly and push …read more

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Stiff new late filing penalties

HMRC have released more information surrounding the new penalty scheme for late delivery of self assessment tax returns for 2010/11. They have been keeping this relatively quiet and I am not surprised one bit. The new penalty regime starts from April 2011 and could mean a late tax return filed 6 months late might attract …read more

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A budget for small business?

As a whole, Budget 2011 wasn’t a big disaster for small business.  In fact, there were a few encouraging signs and allowances given. Personal Allowance Will be increased by £630 to £8,105 in 2012/2013.  This is on top of the increase in 2011/2012 from £6,475 to £7,475.  Meaning that employees and (more importantly) directors will …read more

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Tax Refund Scam

An email I received this morning confirming a nice tax refund is due…… Be warned these emails seem to be doing the round at the moment.  Don’t be fooled into thinking you are eligible for a refund as HMRC will never email you regarding this.  This is a scam and all you will do is …read more

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New HMRC records checks are flawed

Let’s face it.  A small business simply doesn’t have bookkeeping at the top of their priorities.  In this financial climate, making a decent enough living is a hard enough in any business.  HMRC just doesn’t realise this – or if they do then it’s a below the belt hit to businesses at a time when …read more

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