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

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

Direct Recovery of Debts

by Aspiring Training on January 13, 2016 No comments

If you are being chased by HMRC to pay any amounts due, ignoring these demands are now not an option.

From last October HMRC have been given the powers to directly recover debts owing to them from any bank accounts, including ISA accounts and business accounts.

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Aspiring TrainingDirect Recovery of Debts

Accelerated Payment Notice

by Aspiring Training on December 17, 2015 No comments

HMRC can demand payment of tax earlier than it would otherwise be payable. The Accelerated Payment Notice is only issued in cases where the amount of tax due is disputed as a result of an investigation or court case.

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Aspiring TrainingAccelerated Payment Notice

Staff Clothes

by Aspiring Training on August 26, 2015 No comments

If you provide clothes for your staff to wear at work, you need to be aware of the tax and VAT implications, which may vary according to the items provided.

Where clothes would be considered to be part of the staff uniform, overalls or protective clothing needed for the job, the cost is tax for the business and the VAT can be reclaimed.

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Aspiring TrainingStaff Clothes

Taxpayers told to Tweet their queries

by Aspiring Training on January 5, 2015 No comments

HMRC’s suggestion to submit tax queries via Twitter has been slammed as “laughable” by MPs as figures reveal average Revenue call centre waiting times have doubled since 2013.

On average the 70m callers a year to HMRC’s helplines now wait almost 11 minutes before reaching an advisor.

When questioned about the increased waiting times an HMRC spokesman suggested people could use Twitter as an alternative.

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Aspiring TrainingTaxpayers told to Tweet their queries