What has gone wrong at the Inland Revenue?
Nigel Holland identifying the problems faced by HMIT. " Chaos within the HMRC as severe reduction in staff numbers, delayed effects from the covid pandemic, delay on introduction of MTD and closure of HMRC helpline combine to reduce the service provided by HMRC. This...
Taxman to raid frequent fliers
Nigel Holland "There is an increase in tax on the way based upon how HMRC aretreating the frequent flyer programme involving British Airways Avios pointssystem. The points could be taxed for the first time as HMRC launches a raid onthe popular frequent flyer...
Finance for businesses
Nigel Holland raises finance for businesses " From time to time we are asked by clients how can they raise finance. There are various ways that this may be done and we have developed relationships with lenders who are able to point businesses in the right direction to...
VAT Penalty alert
Nigel Holland “The changes to the VAT penalty regime are now in force. The regime is automated as many processes adopted by HMRC are these days. We have found that if there is a problem with a scheduled payment or VAT or submission of a return this problem may trigger...
Increase in secret subletting
Nigel Holland " There are a large number of tenants who sublet their properties to sub tenants in secret, such arrangements are rife in the commercial and residential sectors. Such activity can create a serious problem for landlords because it can be difficult for the...
Landlords miss Out
Budget 2023 – Despite intensive lobbying. Nigel Holland " There is no direct help from the Government in the 2023 Budget despite there being £63 million for swimming pools. The good news is the forecast drop in inflation from 10.7% to 2.9% by the end of...
Danger of 20% house price plunge
Nigel Holland "There is a danger that monetary policy committee (MPC) is poised to raise official borrowing costs for a 10th meeting in a row. This will inevitably lead to further falls in house prices. According to the Halifax mortgage approvals are 30% down. House...
Changes to Mini-budget
Nigel Holland " We are living in one of the strangest periods in history where the Government introduces a number of tax measures one day and then reverses those same measures a few days later. This results in uncertainty for the markets which is not a good...
Tax cuts announced
Nigel Holland "The biggest tax cuts since 1988 by the Government in a push for growth are at odds with the policy of the Bank of England who are trying to rein in growth by increasing interest rates, in a bid to curb inflation."From Nigel Holland The Mini Budget...
Jail for Landlords
Nigel Holland Property owners who knowingly let out sub-par homes could face prison terms of up to six months. The plans come amid a proposed roll out of a new minimum standard across the whole private rented market, although the Department for Levelling Up, Housing...
