News Desk2018-12-26T13:53:27+00:00

News Desk, Blogs & Tax Summaries

Making tax digital

December 20th, 2018|0 Comments

Making Tax Digital LITRG Press release: 100 days to digital tax deadline – but where’s the exemption guidance? With just over 100 days to go before it becomes compulsory for most VAT registered businesses to [...]

Worldwide Disclosure – Time running out

September 16th, 2018|Comments Off on Worldwide Disclosure – Time running out

Cessation of Worldwide Disclosure Facility Tax payers have a few weeks left to take advantage of The Worldwide Disclosure facility. The Worldwide Disclosure, which opened in September 2016 is closing from 30 September 2018. The [...]

IR35 and Public Authorities

July 8th, 2017|0 Comments

IR35 for public authorities HMRC have issued revised guidelines on who falls within the remit of a public authority under IR35. The changes apply from April 2017 and relate to whether the legislation applies to [...]

Rangers EBT case : Press Release by CIOT

July 8th, 2017|0 Comments

Supreme Court takes a strong stance on the Rangers EBT case HMRC is likely to issue follower notices to employee benefit trusts (EBTs) currently under enquiry, where the circumstances match those in the Supreme Court’s [...]

Budget 2017

March 8th, 2017|0 Comments

A SIMPLE GUIDE TO THE BUDGET 2017 This is a basic guide to the Budget 2017.  It is an introduction only and should not be used as a definitive guide, since individual circumstances may vary. [...]

Negligent director and national insurance

February 17th, 2017|0 Comments

National insurance contribution reversal for an alleged negligent director FIRST TIER TRIBUNAL CASE ANTHONY PETER BROUGHTON-HEAD Appellant - and - THE COMMISSIONERS FOR HMRC Respondents The Tribunal determined the appeal on 6 February 2017 Abstract: [...]

An Overview of Inheritance Tax

February 19th, 2016|0 Comments

When planning out their estates, many people forget about inheritance tax. They bequeath their belongings to their loved ones, and they don't think about their heirs having to pay that inheritance tax on both property [...]

Self Assessment & PAYE tax gap narrows

October 27th, 2015|0 Comments

Self assessment & PAYE tax gap narrows The UK's tax gap, which is the difference between tax collected by HMRC through self assessment, disclosure schemes and tax investigations and the amount of tax owed has [...]

The Summer Budget- ACCA responds

July 16th, 2015|0 Comments

The Summer Budget- ACCA responds The ACCA's Head of Taxation, Chas Roy-Chowdhury, has commented on the Summer Budget delivered by George Osborne. Inheritance Tax "The Chancellor should have been bolder in his first Budget in a [...]

Amending MOSS VAT Returns

June 14th, 2015|0 Comments

Guidance issued on MOSS VAT Returns by HMRC HM Revenue and Customs (HMRC) has updated its guide on its Mini One Stop Shop (MOSS) scheme. The guide explains how businesses can correct VAT MOSS returns. [...]

Queen’s Speech 2015

June 2nd, 2015|0 Comments

Commentary on Queen's speech 2015 Following on from the Queen's speech on 27th May 2015, the Association of Chartered Certified Accountants (ACCA) has stated the Queen showed a strong tone for tackling tax avoidance, tax [...]

Tax Freedom!

May 31st, 2015|0 Comments

 Tax Freedom for individual taxpayers is two days later in 2015 Taxpayers in the UK are working two days longer on average in 2015 before they start earning for themselves, the Association of Chartered Certified Accountants (ACCA) has [...]

Holiday pay – Contractors falling foul of IR35

May 28th, 2015|0 Comments

Contractor getting caught by IR35 Rules successfully claimed for unpaid holiday pay The Employment Appeal Tribunal upheld a judge's decision that a general labourer, who was employed for four years before becoming a labour-only subcontractor for [...]

Micro Businesses Fast Payers

May 27th, 2015|0 Comments

Micro Businesses are Fast Payers Micro businesses tend to be the fastest to pay their invoices out of all sizes of business in the UK, according to new research. Data from Experian shows that businesses [...]

General Election Pledges

May 6th, 2015|0 Comments

General Election Pledges by the Parties With the General Election round the corner, below are the key points made by the major parties regarding taxation. The Labour Party's General Election pledges:  Introducing a new 10p [...]

Do Small Businesses Value Business Plans

May 5th, 2015|0 Comments

Business Plans for Small Businesses Up to 29% of small and medium sized businesses fail to see a reason for preparing a business plan, following research undertaken by Close Brothers Business Barometer, which takes into [...]

Small business stresses revealed

April 28th, 2015|0 Comments

Small businesses stresses revealed A poll of 600 small businesses has revealed 32% of small business owners find hiring new staff as the most stressful task they have to deal with. Other tasks which affect [...]

Success of a business

April 18th, 2015|0 Comments

Success of a business Numbers, decisions and seeing the big picture; some factors which contribute to the success of a business. Businesses need to know different numbers, not just numbers extracted in Real Time, but [...]

Labour’s crackdown on tax avoidance

April 14th, 2015|0 Comments

Labour's crackdown on tax avoidance The Labour party have pledged to crack down on tax avoidance to raise an ambitious £7.5bn annually, according to their manifesto. Ed Balls, the Shadow Chancellor stated should the Labour [...]

Small Business Tax Rate Summaries

April 8th, 2015|0 Comments

Individual and Small Business Tax Rate Summaries The 2015/2016 tax year commenced on 6 April 2015. We have set out below a few points on the impact of a new tax year for individuals, sole [...]

HMRC wins tax avoidance cases

April 1st, 2015|0 Comments

HMRC wins tax avoidance cases HMRC has won three wins against tax avoidance schemes, upholding earlier judgments in HMRC's favour at the First- Tier Tribunal. These wins has resulted in HMRC protecting over £260 million [...]

Small businesses lack basic digital skills

March 26th, 2015|2 Comments

Small businesses lack basic digital skills The latest UK Business Digital Index has polled that 23% of small and medium sized enterprises (SME's) lack basic digital skills. Digital Trends The Index tracks and measures levels [...]

Budget 2015

March 21st, 2015|1 Comment

ACCA's View on Budget 2015 The Association of Chartered Certified Accountants (ACCA) has voiced its thoughts on the Budget 2015 Report. It has stated with a Budget so close to the General Elections, the Budget [...]

Budget Summary 2015

March 19th, 2015|1 Comment

Budget Summary 2015 The Chancellor George Osborne delivered his Budget Report on 18 March 2015. Avery Clifton have produced a summary of the report below. The Chancellor's Report was fairly exhaustive so we have kept [...]

Small business cash flow tips

March 17th, 2015|0 Comments

Small business cash flow tips Managing late payments are a significant issue to small businesses, with £46.1 billion currently being owed to businesses. In 2008 the amount owed was £18.6 billion, less than half of [...]

HMRC report on IR35 cost

March 15th, 2015|0 Comments

HMRC has published their report on the IR35 cost to the government. In summary the report states that continuing with the IR35 regime is more cost efficient than trying to get it abolished. The administrative cost [...]

ACCA’s recommendations for the Budget 2015

March 11th, 2015|0 Comments

ACCA's recommendations for the Budget 2015 The ACCA (the Association of Chartered Certified Accountants) has called on the Chancellor to make a real meaningful difference to assist businesses and individuals by raising the threshold at [...]

Reduction in tax on savings income

March 7th, 2015|0 Comments

Savings for Tax Payers on Saving Income From April 2015, taxpayers on lower incomes will not have to pay tax on savings income. In the 2014 Budget, the government announced that it would reduce the [...]

Adverse weather affects productivity

March 6th, 2015|0 Comments

The Centre of Economics and Business Research has investigated the correlation between economic growth and weather patterns overs the last years. They have reported that since 2005, quarterly GDP growth has been 0.6 percentage points [...]

Employment Status Report OTS

March 3rd, 2015|0 Comments

Employment Status Report by the Office of Tax Simplification The Office of Tax Simplification’s have released a report today on Employment Status. Employment status is a subject that all parties – businesses, individuals, agents, HM [...]

HMRC wins Eclipse tax court case

March 1st, 2015|0 Comments

HMRC wins Eclipse court case to protect £635 million in tax The Court of Appeal today ruled in favour of HM Revenue and Customs against Eclipse Film Partners (No 35) LLP, protecting an estimated £635 [...]

HSBC Suisse bank data share with HMRC

February 27th, 2015|0 Comments

HMRC have formally agreed with French authorities that HSBC can share stolen HSBC Suisse Customer date with other regulators and law enforcement agencies in order to pursue criminal offences. The decision was announced by HMRC's [...]

Tax Summaries

February 13th, 2015|0 Comments

HMRC is now sending out tax summaries to tax payers, setting out how much tax and National Insurance the particular taxpayer has paid and how it has been utilised on public expenditure. Taxpayers [...]