12 July 2021
The Office of Tax Simplification (OTS) has put forward a proposal to move the end of the tax year from April 5 to March 31. There are also indications that December 31 was taken as the deadline for the move. We should be aware that any change in the tax…
Draft statutory instruments have been published in Gov.uk which will amend the existing regulations on Disclosure of Tax Avoidance Schemes (DOTAS), Promoters of Tax Avoidance Schemes (POTAS) and Disclosure of Avoidance Schemes for VAT and Other Indirect Taxes (DASVOIT). These are expected to come into effect from 9th September 2021.…
UK VAT registered businesses with a taxable turnover above the VAT threshold are obliged to follow the MTD (Making Tax Digital) rules – keep digital records and use compatible software to submit their VAT returns. Businesses below the VAT threshold can opt-in to use this service, however, this will change…
15 June 2021
It has come to HMRC’s attention that quite a number of ‘mini umbrella’ companies were created and used for the purpose of exploiting government incentives intended for small businesses, thus reducing their PAYE and tax bills. If you’re wondering what a ‘mini umbrella’ is, there is no standard definition on…
With all the recent events with mini umbrellas, let us remind you of the importance of implementing due diligence checks to assure your labour supply chains. Failing to do so may result in significant legal, financial and reputational risks for your business. In the end, you may be liable for…
