HMRC has been busy aligning its own rights and powers following the merger, several years ago, between the two old organisations of the Inland Revenue and HM Customs.  This process will take a number of years as the different organisations previously had different powers, from rights to view paperwork and in some cases to rights […]

Businesses have long been allowed to correct net errors not exceeding £2,000 in their VAT returns. From the first new VAT period commencing on or after 1 July 2008, HMRC have raised the previous limit of £2,000 to a minimum figure of £10,000. Errors of more than £10,000 can also be put right on the […]

HMRC have issued revised guidance on the system of penalties which they will be able to apply to taxpayers. The revised penalties were introduced as part of legislation enacted in the Finance Act 2007. The penalties generally affect returns which cover the period from April 2008 and are due to be submitted from 1 April […]

Do you pay any professional subscriptions?  If so then tax relief may be due on the subscription as long as the professional body appears on the latest HMRC list.  The list includes all bodies approved by HMRC up to 30 May 2008. HMRC update the list periodically. Please get in touch if you are not […]

Alistair Darling has made a statement to Parliament following the Poynter Review, which was commissioned following the loss of the child benefit data discs.  The Independent Police Complaints Commission (IPCC) has also issued a report into the circumstances surrounding the loss. HMRC’s Acting Chairman, Dave Hartnett, has written to the Financial Secretary to the Treasury, […]

HMRC have now issued further guidance on the increase in the personal tax allowance which is due to take effect from 7 September 2008. The guidance is aimed at both employers and employees. Although the increase takes effect for pay dates from 7 September onwards the change will effectively be backdated for the majority of […]