Monthly Archives: September 2015

HMRC considering changes to the way they charge penalties

Readers might be interested to know that HMRC have been consulting with various parties, including the accountancy profession, regarding the way in which they charge penalties to taxpayers who don’t meet their filing obligations. We have listed below a number of the conclusions HMRC have reached thus far.  HMRC’s published responses:  We recognise the need […]

Tax scheme generates �1bn in tax

HMRC has collected £1 billion in tax payments from users of tax avoidance schemes as a result of the government’s new rules to collect disputed tax upfront, the Financial Secretary to the Treasury, David Gauke, announced 13 September 2015. The Government introduced Accelerated Payments last year to radically change the economics of avoidance. Under these […]

Dividend Allowance, wake up call for shareholder directors

HMRC have published the following fact sheet regarding the wide ranging changes to the taxation of dividends from April 2016: From April 2016 the Dividend Tax Credit will be replaced by a new tax-free Dividend Allowance. The Dividend Allowance means that you won’t have to pay tax on the first £5,000 of your dividend income, […]

Keep your records up to date at Companies House

 If you're late telling Companies House about changes to your officer's details, it could come at a cost. Searches of company officers account for 47% of all public searches of our database, but only 53% of companies notify Companies House within the legal timescale when their officer details have changed.  Filing your documentation late can […]