It’s not long to go before 1st April 2022. What is the relevance of this date you ask? This is the date MTD comes into play if you are a VAT Registered business but not yet filing under MTD. What is MTD? Making Tax Digital (MTD) is HM Revenue & Customs plan to digitise […]
Category Archives: HM Revenue & Customs
capital gains tax, HM Revenue & Customs, Tax Advice, Tax Planning, Tax Tips
Capital Gains Tax Deferral Relief – Enterprise Investment Scheme (“EIS”) Investments
23
Feb
Feb
Are you thinking of selling an asset? Or have you recently sold or gifted an asset that gave rise to a Capital Gains Tax (CGT) liability? If so, there is an often underutilised relief that could improve your cash position; Capital Gains Tax Deferral Relief. If you pay income tax at the higher or […]
Brexit, Business Tips, HM Revenue & Customs, Personal Tax
What is the best use of your time in January?
07
Jan
Jan
We wish you a happy new year and let’s hope 2022 is more stable and that by the end of the year we can return to some kind of “normality”. What is the best use of your time in January? We encourage all clients to consider taking time to prepare a 2022 Strategic plan. “A […]
blog page, Business Tips, HM Revenue & Customs, Myers Clark Updates
We are now at Plan B so what is your plan?
15
Dec
Dec
We are now into week one of Plan B even if at the time of writing this blog our MP’s are still debating measures amid Tory backlash. It seems that vaccines are still our best line of defence and so until the majority of adults have received their booster jab it would be reasonable to […]
Employee Benefits, HM Revenue & Customs, P11d, Tax Tips
Christmas gifting and parties – What are the tax implications?
26
Nov
Nov
Entertainment Expenses – what is tax deductible? It is common at this time of the year to see a lot more gifting and partying. It is after all the festive season. The costs of parties and gifts can be a tax allowable expense and any VAT can be claimed back if it relates to employees. […]
Cloud Accounting, Digital Technology, HM Revenue & Customs
Making Tax Digital (MTD) Delayed…. Updated January 2023
04
Oct
Oct
Making Tax Digital (MTD) Delayed As we said last week uncertainty and change are in the air! So, this week we have more changes to announce. MTD for self-employed, partnerships and landlords has now been delayed. The change that was originally set to become law in April 2023 has now been pushed back due to […]
HM Revenue & Customs, National Insurance, News, Payroll, Personal Tax
Introduction of the new Health & Social Care Levy and how it works
22
Sep
Sep
Last week saw the introduction of the new health and social care Levy. Whilst this came as a surprise to many it was not all that unexpected. The UK with its aging population has over many years debated on how to deal with the rising cost of social care. It took the pandemic (and the […]
26
Aug
Aug
Under new rules introduced by the Finance Act 2021, HM Revenue & Customs (HMRC) have acquired some extra powers when it comes to collection of tax and information gathering. Will HMRC contact my bank directly? A new “financial institution notice” was created to speed up the process of getting information to tackle tax evasion. HMRC […]
18
May
May
From 1st January 2021 the way we complete the VAT Return in the UK changed. The most important change was how we account for VAT when it comes to Great Britain (GB) trading with the European Union (EU).
03
Dec
Dec
This however was not a Budget and therefore as expected no announcements on the future tax strategy. There is an acceptance overall from the pundits that tax will have to increase.