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Directors of struggling companies all too often place payment of tax at the bottom of their priority lists, with the result that it is the public purse that frequently suffers most in the event of insolvency. However, as a High Court decision showed , such...
National boundaries pose little or no obstacle to tax evasion. The Court of Appeal made that point in an important ruling which has greatly boosted the ability of HM Revenue and Customs (HMRC) to pursue inquiries beyond the borders of the UK. HMRC were...
It is often optimistically considered that trading on eBay and similar online sales platforms is effectively outside the tax system. That, of course, is not true and anyone undertaking economic transactions for profit needs to comply with the tax laws to...
The 'making tax digital' project will require VAT-registered businesses to submit their VAT returns online from 1 April 2019 and to use accounting software that is integrated with the Government's digital gateway to do it. This in turn means, in effect, that...
If your business is struggling to meet VAT and other tax payments on time, take advice quickly. The decision by the Government to restore 'Crown preference' regarding debts due to the Exchequer from April 2020 could impact negatively on you. Leaving aside...
There is a widespread belief that every UK company director has to file a tax return. Indeed, the Government's own website suggests that being a company director alone means you should register for self-assessment and file a tax return annually. However,...
If your business issues vouchers, you should be aware that the VAT regime will change significantly on 1 January 2019. From that time, the VAT treatment of a voucher will depend on whether it is a 'single purpose' voucher or a 'multi-purpose' voucher. A...
It is fair to say that HM Revenue and Customs (HMRC) take a hard line when it comes to non-payment or late payment of taxes due. Unless the taxpayer can show a 'reasonable excuse' (which in practical terms means a really compelling reason) for the delay,...
One of the motivations for setting up a limited company is that the risk for the shareholders is limited to the investment they have made in the company's shares. A quietly launched consultation document issued by HM Revenue and Customs (HMRC), which...
Unless they can show that they would suffer hardship as a result, traders who wish to challenge assessments to VAT are first required to pay, or at least deposit, the tax demanded before they can mount an appeal. That requirement has long been highly...
