Latest News

HMRC trialling self-assessment checks to help local authorities to recover council tax
24 October 2019 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has announced that it is entering into data-sharing arrangements with local authorities to help clamp down on council tax debt.

Government delays introduction of VAT reverse charge!
19 September 2019 - posted by: Prowting & Partners Accountants in Bristol

The controversial introduction of the VAT reverse charge in the construction sector has been postponed by a year and will now take place on 1 October 2020, following concerns that the industry wasn’t ready for this monumental change. The new … Read more »

How to tell if an email is fraudulent
5 September 2019 - posted by: Prowting & Partners Accountants in Bristol

Email scams have become increasingly common, with fraudsters claiming to be from companies, banks and even HM Revenue & Customs (HMRC) to obtain your data and bank details. The fraud, which is also known as a phishing scam, can also … Read more »

Tax investigations reap in £13 billion for the treasury
5 September 2019 - posted by: Prowting & Partners Accountants in Bristol

The latest official data from HM Revenue & Customs (HMRC) shows that the actual cash collected from all tax investigations hit £13 billion in 2018/19. This was up 27 per cent from the previous tax year in which £10.3 billion … Read more »

Half of all SMEs make VAT return mistakes
5 September 2019 - posted by: Prowting & Partners Accountants in Bristol

Half of all small-medium sized enterprises (SMEs) make errors when filing their VAT returns, according to the latest research. The data also revealed that just 27 per cent of small businesses are confident that they have filed their return correctly, … Read more »

Boots, Asda and Specsavers push back against business rates
5 September 2019 - posted by: Prowting & Partners Accountants in Bristol

Some of the UK’s top retail stores, including Asda and Boots, have joined the fight against spiralling business rates. It comes after many leading retail bodies published a letter calling for the Chancellor of the Exchequer, Sajid Javid, to address … Read more »

MTD for VAT filing deadline missed by one in ten businesses
5 September 2019 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has reassured the 120,000 businesses that failed to meet the 7 August deadline for Making Tax Digital (MTD) for VAT that the tax authority will not be issuing fines to them for missing the date. … Read more »

Making a voluntary disclosure to HMRC
5 September 2019 - posted by: Prowting & Partners Accountants in Bristol

Taxpayers are actively encouraged by HM Revenue & Customs (HMRC) to inform the tax authority if they realise that they did not pay the correct tax at any time in the past. This process is known as a voluntary disclosure … Read more »

New figures show that a quarter of estates paying Inheritance Tax (IHT) are investigated by HMRC
5 August 2019 - posted by: Prowting & Partners Accountants in Bristol

The response to a Freedom of Information (FoI) request has revealed that as many as one in four estates that are liable for IHT are investigated each year. In 2018-19, more than 5,500 investigations were launched by HMRC into the … Read more »

Principal Private Residence Relief and Lettings Relief changes due in April 2020
5 August 2019 - posted by: Prowting & Partners Accountants in Bristol

The start of the next tax year in April 2020 will see key changes come into effect in respect of Principal Private Residence Relief (PPR) and Lettings Relief, both of which can be used to soften the impact of Capital … Read more »

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Budget 2020

Budget summary When Philip Hammond …
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