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Information Snippets

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  • HMRC are under investigation by the Information Commissioner following a complaint that the tax authority has breached data protection laws by saving taxpayers’ voices without consent.
  • A barrister who claimed he did not know non-payment of tax was against the law has been jailed for 18 months, following an HMRC investigation, all we can say is “go figure”!
  • There has been a 29% hike in the number of malicious websites which HMRC has asked to be removed following a spate of scams involving fake emails and texts
  • HMRC flat rate expenses for uniforms, work clothing and tools updated. See HERE for table
  • The penalty system for Making Tax Digital will commence within 15 days of an overdue payment, the government has confirmed in the draft Finance Bill 2018-19, despite much opposition from the industry
  • From 1 March 2019 the time limit that individuals have for filing a Stamp Duty Land Tax (SDLT) return and pay any tax due has been shortened from 30 days to 14 days, so beware.
  • HMRC wasted no time in raising interest rates for late payments following the recent rise in the bank of England base rate.
  • Chancellor Philip Hammond has rejected pleas from MPs to consider further reform of business rates considering the current problems facing high street retailers but has indicated that the government is looking at ways to level the playing field with digital-only businesses, so more cost for digital businesses then!
  • The government is going ahead with rules to support charities with a Gift Aid measure to simplify the donor benefits rules, due to come into force from April 2019, pending approval of draft Finance Bill 2018-19. Watch this space
  • The government is planning to more than double the retrospective time limit during which HMRC can investigate non-payment of income, capital gains tax (CGT) and inheritance tax (IHT) from offshore accounts
  • The government recently announced plans to retrospectively protect tax relief for entrepreneurs whose ownership of shares in a company drop below the currently required 5% as a result of a new share issue

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Disclaimer:- The information contained herein is given by way of general guidance only and no action should be taken solely on the basis of the information contained herein. The Avanti Group (UK) Ltd will be pleased to provide further guidance on the issues, and how they might affect you. No liability is accepted by the firm for any action taken without seeking appropriate professional advice