Tag: The Accountancy Solutions

HMRC Fraud Investigation Service
Our Blog

HMRC Fraud Investigation Service – Code of Practice 8

If you are found to have done nothing wrong, you will be informed that the investigation has been completed and no further action will be taken. You may be susceptible for repeat investigations in subsequent years if further suspicious tax data is received.

Accounting and Tax Planning for Post Offices
HMRC

Accounting and Tax Planning for Post Offices

Accountants for Post Offices are uniquely equipped to assist with tax matters involving both income and corporate tax, dividends, PAYE and of course the complexities of VAT, where vendors may have to account for different rates on different products.

2017 Budget Small Businesses
HMRC

What does the 2017 Budget mean for Small Businesses?

As dividend allowance is to be slashed, we expect to see more self-employed workers look to invest further in Isas. From April 2017, Isa limits are being raised from £15,240 to £20,000 and dividend growth within this Isa is tax-free.

Employment Benefit Trusts Tax Avoidance Schemes
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Employee Benefit Trust – The Story Behind

The main purpose of an EBT is to reward and incentivise employees, who in turn are keen to see the company fare well, and yield the rewards at a later date. This can include the granting of share options, or cash payments to beneficiaries.

Contractor Tax Avoidance
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Contractor Tax Avoidance

Any company or individual who sets up a tax avoidance scheme has to obtain a DOTAS, which is a disclosure of tax avoidance scheme. In recent years, the HMRC have been increasing their investigations on any schemes registered via the DOTAS system. The HMRC claim that they win a vast majority of all contractor tax avoidance cases in court.

HMRC Approach to Income Shifting
HMRC

HMRC Approach to Income Shifting

The law on income shifting means that if you have a non-working partner or a partner who earns lower than the higher tax rate threshold, which stands at £43,000, you could include your spouse as a shareholder and let them have a share of dividends, which would reduce the tax bill.