Time is ticking… the deadline for personal tax returns will be here before you know it

Summer is typically a quiet time for personal tax matters but don’t be lulled into thinking you can ignore your personal tax returns – the next deadline will be here before you know it! If you are self-employed, then you will be expected by HM Revenue & Customs (HMRC) to complete self-assessment tax returns. If … Read more

New figures show a quarter of estates liable for IHT are investigated by HMRC

The response to a Freedom of Information (FoI) request has revealed that as many as one in four estates that are liable for Inheritance Tax IHT are investigated each year. In 2018-19, more than 5,500 investigations were launched by HMRC into the approximately 22,000 estates that had to pay the tax. Despite the introduction of … Read more

Government’s draft IR35 legislation contains important changes

After much anticipation, the Government has now published its draft legislation for the off-payroll working (IR35) rules, which will be enforced in the private sector from 6 April 2020. The latest policy document for the private sector shares a number of similarities with that already in force in the public sector. However, it does introduce … Read more

Late payments cause greatest damage to small businesses

Late payments are causing more damage to the small business economy than almost any other factor, new research has revealed. The findings have been published as part of new research carried out by the leading accountancy regulator, the Institute of Chartered Accountants in England and Wales (ICAEW). According to its latest Business Confidence Monitor (BCM), … Read more