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HMRC cracks down on fake phone calls

HMRC has deployed new defensive controls to protect abuse of its phone lines in a bid to put an end to fraudster’s spoofing the tax authority’s most recognisable helpline numbers. The controls, created in partnership with the telecommunications industry and Ofcom, will prevent spoofing of HMRC’s most used inbound helpline numbers and are the first…Read More

HMRC is ramping up a campaign targeting restaurants and takeaways as financial stress makes tax evasion more tempting for smaller operators!

A quarter of cases on the HMRC’s major defaulters’ list come from this sector with restaurants and takeaways making up 26% (200 of 775) of businesses ‘named and shamed’ by HMRC as ‘deliberate tax defaulters’ since the start of the publication of quarterly lists in December 2017. Recent examples include a Chinese takeaway business from…Read More

Digital record keeping requirements: Treatment of supplier statements or individual invoices!

VAT returns for those clients have historically been prepared based on the supplier statements (often a monthly summary), rather than the individual invoices.  However, the concern until now has been that the MTD requirement relating to digital record keeping of supplies received required each supply received to be recorded individually – an exceptionally onerous task. …Read More

Changes in National Minimum Wage!

As we head into Spring the latest set of employment law changes are set to come fast, with the first of these being a change in national minimum wage (NMW) rates. From 1st April 2019, the national living wage (NLW) for those aged 25 years and over will increase to £8.21 per hour. Minimum wage…Read More

References for Paying Taxes

Some tax reference numbers change each year or period, and others remain the same. So, find below a helpful guide to which references for which taxes will remain the same and which one’s you need to be aware may change: 1. Easy One’s First – Remains the Same: Personal Tax: This is always your UTR…Read More

Buy-to-let Landlord Campaign Fails to Fill £500m Tax Gap

Despite HMRC’s campaign to target underpayments of tax due on rental properties, less than 3% of estimated eligible landlords have used the let property disclosure facility, according to data from Saffery Champness, which is warning that property taxation is likely to see a greater focus as landlords come under scrutiny over their tax compliance. In…Read More

April Payslip Changes: Are you ready?

Cardens discuss five of the most frequently asked questions about payslip changes effective from 6 April 2019. 1. Who will the new payslip changes affect? The difference between an employee and a worker becomes important here. An employee is someone who works for you and has a contract of employment. Instead, you might draft in…Read More

Directors Salary from April 2019

From April 2019, we recommend directors take a monthly salary of £719. This salary ensures you receive a “qualifying year” of National Insurance Contributions towards your State Pension, but without the need to pay any contributions. This salary is also below your Personal Allowance of £12,500 for tax purposes. If you are taking a directors…Read More

Ignore all Email and Phone Scams Promising Fake HMRC Tax Refunds!

The scammers are targeting self-assessment taxpayers by email and phone, claiming they are entitled to tax refunds and asking for bank details to transfer the money. This has come just a few weeks after the self-assessment tax returns deadline on 31 January. The scam phishing emails are being sent from verio.net domain names which contain…Read More

Have you Paid your Self-Assessment Tax Bill Yet?

If you have not yet paid your balancing payment of income tax due for the year ended 5 April 2018, (which was payable by 31 January 2019), a 5% penalty will be charged by HMRC if this liability is not paid in full by 30 days after the payment date. Late payment interest will also…Read More

Pre 5th April 2019-year-end tax planning tips

The tax year end is nearly here – 5th April. Now is a great time to review your financial and tax position to make sure you have made the most of the legitimate tax planning opportunities available to you. Here are a few quick things for you to think about: • Have you made the…Read More

Valentines Tax Benefits! – Saying ‘I do’

As couples around the UK are preparing for Valentine’s Day, those considering if it is the right time to pop the question, the ICAEW says that although it may not be the most romantic season to either propose, get married or enter a civil partnership it could have tax benefits. For example, wedding presents from…Read More

How to ease your security worries when it comes to Making Tax Digital!

Making Tax Digital is a crucial part of the government’s proposal to help make it easier for individuals and businesses to get their tax correct through online software and staying up to date on their affairs. From April 2019, businesses with a VAT threshold of £85,000 and over will be required to file their tax…Read More

Brighton Summit Blog: Looking Up for Cardens!

The theme for this year’s Brighton Summit was ‘Look Up’. In this blog, Victoria at Cardens explains what ‘Look Up’ meant for Cardens and her experience at the Summit. Another successful year at the Summit. Once again, an amazing experience! I had no doubt that this year wouldn’t be as great as last year. This…Read More

Banking with Tide and Cardens Accountants

If you enjoy waiting in queues, filling out paperwork and organising in-house meetings with your bank – Tide is not for you. If you’d like to save yourself time and money with your business banking, read on…. Tide aim to stop you wasting time on banking and admin and allow you to focus on what…Read More

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