‘Stay Vigilant’ Warns HMRC as the Number of Tax Scams Rises
Recently, HMRC put out a statement warning young people in the UK to 'stay vigilant' in order to avoid being victims to tax refund scams. HMRC warns that both young and elderly individuals tend to be targeted by criminals as they are 'more likely to be less familiar...
P11D Forms Due for Submission July 6th
The P11D forms, which report details of benefits and some expenses provided to employees and directors, for the year end 5 April 2019 are due for submission in 85 days on July 6th. Gathering the required information can take some time so make sure you prepare early in...
Government Release new Brexit Advisory Documents
Recently, the government have published additional documents with advice on Brexit for small businesses in the UK. This information is meant to help business owners to 'understand how leaving the EU may affect their business'. The documents provide advice on range of...
UK Factories Stockpiling Frenzy
During March, UK factories stockpiled resources at an explosive rate in preparation for Brexit. This was an unexpected 13-month high, something that has been unseen before in a major rich economy. The IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI)...
No Stopping UK Shopping
UK retail sales grew by an annual 4.0% in February, which is only a slight decrease from January's 2 year high of 4.1%. With Brexit on the horizon and the threat of an economic collapse within the UK, why are British shoppers still spending so much? Well, with a drop...
NEF Propose Weekly National Allowance
Recently, the New Economics Foundation (NEF) claimed that if the Government replaced the personal allowance of income tax and replaced it with a weekly national allowance, up to 200,000 of the poorest families could be lifted out of poverty. They proposed a weekly...
Significant Rise in Landline Scams Warns HMRC
As a result of HMRC's efforts to crack down on email and SMS phishing scams, it seems criminals are returning to the more traditional method of cold-calling unsuspecting households and threatening legal action if they don't pay up. These scammers often target more...
Return of Corporation Tax Relief for Acquired Goodwill
A late change to the Finance Bill will bring back relief for acquired goodwill on the acquisition of businesses with eligible intellectual property from 1 April 2019. The restoration of relief for goodwill and customer-related assets is a welcomed return of a relief...
Further Implications on Jobs and Economy post Brexit
Although jobs in the financial sector may be taking a hit, a very specific type of accountant is claimed to be very sought after. According to Morgan McKinley's UK 2019 Accounting and Finance salary guide, banks and investment firms are seeking to hire technical...
Businesses Told to Prepare for post-Brexit Customs Declarations
VAT-registered UK businesses that trade exclusively with the EU are being urged by HMRC to prepare for a no deal Brexit. 145,000 affected businesses received a letter from HMRC, detailing the changes to Customs, Excise and VAT procedures in the 'unlikely event' that...