Accounting, Business and Tax News Stories and Updates

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21-06-2018
Tax gap lowered according to HMRC
HMRC has published figures that show the tax gap for the 2016-17 tax year was 5.7%. The tax gap is basically the difference between the amount of tax due and the amount of tax collected by the Read more..

21-06-2018
M&S lose expensive VAT case
The First-Tier Tribunal recently heard an appeal that considered the correct VAT treatment of a promotional offer by the retailer, Marks and Spencer (M&S). The issue concerned a frequently run Read more..

21-06-2018
Self-assessment second instalment due end of July
Taxpayers that make payments on account should be aware that the second payment on account for 2017-18 is due on or before 31 July 2018. The amount due for payment is usually the same as the first Read more..

21-06-2018
Is the email really from HMRC?
HMRC continues to warn taxpayers to be aware of email phishing scams. Phishing emails are used by fraudsters to access recipients’ valuable personal details, such as usernames and passwords. Whilst Read more..

21-06-2018
Are you on track to qualify for a full State Pension?
Anyone aged 16 or over and at least 30 days from their State Pension age can request a State Pension statement from the Department for Work & Pensions (DWP). The statement provides an estimate of Read more..

21-06-2018
Payment deadlines for VAT Annual Accounting Scheme
The VAT annual accounting scheme is open to most businesses with a turnover of up to £1.35m per year. Businesses that use the scheme are only required to file one VAT return at the end of each year. Read more..

21-06-2018
Plumber wins landmark gig economy case
The Supreme Court has upheld the Court of Appeal's decision and confirmed that a plumber who was classed as self-employed was actually a 'worker'. The Supreme Court dismissed the appeal by Pimlico Read more..

13-06-2018
Dormant assets scheme to be expanded
The Government has announced that the dormant asset schemes is to be expanded to include to a wider set of financial assets including stocks, shares, pensions or bonds. The government has appointed Read more..

13-06-2018
VAT reverse charge may be coming to the construction sector
HMRC has launched a new consultation inviting comments from interested parties regarding the introduction of new VAT reverse charge legislation for certain construction services. The new legislation Read more..

13-06-2018
The maternity allowance
The maternity allowance is a financial benefit for pregnant women who are self-employed, who are working but do not qualify for statutory maternity pay (SMP) or who have recently stopped working. The Read more..