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Regulator tells banks to stop victim-blaming
5 September 2018 - posted by: Prowting & Partners Accountants in Bristol

The increasing sophistication of bank scams means that customers who lose money to such schemes should not automatically be blamed, the Financial Ombudsman Service has said. Caroline Wayman, Chief Ombudsman and Chief Executive of the Financial Ombudsman Service, said: “It’s … Read more »

A quick guide to the new penalties for late MTD filing and payments
5 September 2018 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has announced a pair of penalty systems for late filing and late payment under Making Tax Digital (MTD) for VAT, which is due to come into effect in April 2019. Late filing will attract penalty … Read more »

One in ten small businesses are concerned about business failure
5 September 2018 - posted by: Prowting & Partners Accountants in Bristol

A new study has revealed that in the last three months the number of SMEs predicting they could close has doubled from five per cent to 10 per cent. Produced by Hitachi Capital Business Finance, the report makes for worrying … Read more »

HMRC releases new advisory fuel rates for company car users
5 September 2018 - posted by: Prowting & Partners Accountants in Bristol

With the price of fuel going up, employees and businesses will welcome new changes to the fuel advisory rates, which from 1 September 2018 have slightly increased on the previous quarter for some vehicles. Advisory fuel rates from 1 September … Read more »

Property investments once again hit by new tax rules
5 September 2018 - posted by: Prowting & Partners Accountants in Bristol

In the last few years the property sector has been hit by a number of new tax rules, but now there are two new things on the horizon that landlords must consider. Rent-a-Room Scheme The current Rent-a-Room scheme offers people up … Read more »

Reminder on changes to Corporation Tax notices
2 August 2018 - posted by: Prowting & Partners Accountants in Bristol

On 19 September 2016 HM Revenue & Customs (HMRC) decided to stop sending out paper copies of several important documents relating to Corporation Tax. Despite this move taking place nearly two years ago, a quick search online indicates that many … Read more »

Taxpayers warned of Requirement to Correct as deadline approaches
2 August 2018 - posted by: Prowting & Partners Accountants in Bristol

Taxpayers with undeclared offshore tax liabilities, including Income Tax, Capital Gains Tax or Inheritance Tax, are obligated to disclose these liabilities to HM Revenue & Customs (HMRC) on or before 30 September 2018 under HM Revenue & Customs’ Requirement to … Read more »

More than 100,000 first-time buyers benefit from Stamp Duty Land Tax reforms
2 August 2018 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has published data which reveals that more than 100,000 first-time buyers have benefited from Stamp Duty Land Tax (SDLT) reforms announced at the last Budget. During the period until 30 June this year, 121,500 first-time … Read more »

MTD for VAT clarified in new communication from HMRC
2 August 2018 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has finally issued a new notice on Making Tax Digital for VAT in which it has clarified many of the questions that businesses had.

HMRC collects more than £30 billion worth of extra tax in last financial year
2 August 2018 - posted by: Prowting & Partners Accountants in Bristol

New figures from HM Revenue & Customs (HMRC) have revealed that the tax authority brought in a total of £605.8 billion in the year to April 2018 – an increase of nearly £30 billion on the previous year. This 5.4 … Read more »

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