Five Million Workers Face Uncertainty after Tax Bills Wrongly Calculated in HMRC Blunder
George Osborne has announced his intention to make offshore tax evasion a criminal offence in
the 2014 budget. In some ways this was a bit odd in that tax evasion is already a criminal offence!
Well I was thinking of the SRA Audit........
and I wonder could this limited offer save you
a sizeable chunk of YOUR money?
We are most useful to you helping you to set up and maintain your records to a high standard. We like doing this and it makes our year end work easier and no doubt you sleep happy in the knowledge your business affairs are being looked after. If you fall into the category of records in arrears, your bookkeeping system antiquated, bank reconciliations not working pick up the phone. Do not be afraid to ask us to help you maintain your records. We like doing this and it makes our year end work easier!
There has been a lot of press coverage about HMRC's determination to increase the tax yield from tax payers and the fact that disputes with HMRC can quickly spiral into time consuming and costly affairs.
What you may not be aware of is that even if you are found to owe no tax at all - you will still have to pay professional fees incurred in handling your case!
Its that time of year to start thinking about your self-assessment tax return, maybe you are a first timer, maybe this year you want help, maybe you know someone who does not realise they are required by HMRC to complete one. Take 5 minutes to click, open, read and see if you or someone you know can say "YES" !
George Osborne has brought in a budget full of pleasant surprises for Hornbeam clients in spite
of running one of the worst budget deficits ever both in absolute terms and in percentage of GDP.
HMRC Target Restaurant Sector
HMRC announced in February the launch of a “taskforce” to tackle tax avoidance in the restaurant
sector across ….. the EAST of ENGLAND.
Taskforces are HMRC teams that undertake intensive bursts of activity in specific high-risk trade
sectors in the UK, with teams visiting traders to examine their records and carry out investigations.
A little word of caution for Landlords.....
Let property campaign
To those not familiar with HMRC, this story will be almost unbelievable .........
HMRC have set up a very efficient system of collecting VAT from traders by Direct Debit.
Each quarter the trader (or their accountant) enters the amount of VAT due on HMRC website and about
35 days after the quarter end HMRC’s bank take the VAT due out of the trader’s bank account.
Simple effective system - so far......