Monthly Archives: June 2022

Seeing is believing?

It is no longer certain that if you receive a letter, email, text or phone call – purporting to be the tax office or some similar, regulatory authority – that it is a genuine communication.   Red flags should be waved, and warning buzzers sounded if anyone ever requests personal information or your bank details.…
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Will quarterly reporting lead to quarterly payments?

Within a few years, many taxpayers that are presently required to file a tax return, and most businesses, will be required to file quarterly data with HMRC using the Treasury Making Tax Digital portal. In which case, the present annual filing obligations will be replaced by quarterly filing obligations.   Paying tax in arrears Apart…
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Employing students in the summer holidays

If you employ students to manage your staff needs over the summer break period, you will need to add them to your payroll and apply PAYE and NIC rules.   Students should be advised that they will pay tax and NIC if: they earn more than £1,048 a month on average, and pay NIC if…
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Till fraud

The scope of tax fraud seems to be taking on new forms according to a recent press release issued by HMRC. The latest attempt involves the use of software to suppress sales recorded at point of sale. The systems even warrant a new acronym, ESS. Electronic Sales Suppression (ESS) Businesses involved in making, supplying or…
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