HMRC warns on tax refund scams

by Aspiring Training on May 30, 2018 No comments

HMRC has in a press release warned that fraudsters are sending scam e-mails and SMS messages that promise tax rebates in order to trick people into disclosing their account and personal details.

The tax authority is currently processing tax refunds after the end of the 2017 to 2018 tax year and is advising that people stay vigilant against fraudsters who are using email and text messages to scam people out of their savings by tricking the public into thinking they have received a tax rebate so that they hand over their account and personal details.

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Aspiring TrainingHMRC warns on tax refund scams

Employee Expenses

by Aspiring Training on April 13, 2018 No comments

As a simplification measure, from April 2019 employers paying subsistence allowance expenses will no longer be subject to a requirement that they check receipts if they are within benchmark subsistence scale rates.

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Aspiring TrainingEmployee Expenses

New National Insurance Number letter

by Aspiring Training on April 12, 2018 No comments

From April 2018, HMRC are changing the format of the letter they use to tell their customers their National Insurance (NI) number. This is the letter which is sent automatically to entitled teenagers just before their 16th birthday and to customers who ask for a reminder of their NI number.

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Aspiring TrainingNew National Insurance Number letter

Reactive tax codes

by Aspiring Training on February 28, 2017 No comments

HMRC is about to start updating tax codes more frequently from April 2017.

This will help HMRC collect the tax due more quickly. Any underpayments of tax identified for 2016/2017 will be collected through the 2017/2018 tax codes. But the same tax codes will also be used to collect potential tax underpayments for 2017/2018.

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Aspiring TrainingReactive tax codes

VAT flat rate restricted

by Aspiring Training on February 22, 2017 No comments

The VAT flat rate scheme (FRS) allows small businesses to simplify their VAT records and, in many cases, keep a portion of the VAT they collect on behalf of the Government.

HMRC are changing the rules because of abuse of the VAT flat rate scheme. From 1 April 2017, it will be more difficult to make any money out of FRS.

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Aspiring TrainingVAT flat rate restricted

National Minimum Wage

by Aspiring Training on February 14, 2017 No comments

The National Minimum Wage is increasing again, with the new rates taking effect from 1 April 2017 instead of October.

This is the second compulsory pay rise in just over six months for some younger employees. All future increases in the national minimum wage and living wage will take effect from 1 April each year.

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Aspiring TrainingNational Minimum Wage