Stephen Parnham Taxation Limited
Cheltenham Chartered Tax Advisers
Advising throughout the UK
HMRC has exposed the most original excuses for late tax return and expense claims ahead of the 31 January deadline From being too busy touring the country to claiming to seeing aliens, the following excuses were all used in unsuccessful…
Read more
HMRC’s online registration service for trusts and estates is now available. All trusts and estates with a tax liability must be registered, including any already reported in paper form 41G. The deadline is 5 October 2017 – http://bit.ly/1PjPOwE
HM Revenue & Customs has developed an online calculator to enable estate administrators to calculate any additional threshold to which an estate may be entitled, under the residential nil-rate band rules now in effect. Well worth a visit for executors…
Read more
According to a Freedom of Information Act disclosure obtained by chartered accountants RSM, the number of penalties imposed by HM Revenue & Customs (HMRC) for deliberate understatement of income increased to 28,663 in 2015–2016. The figure was 5,162 in 2012–2013.
The House of Commons Treasury Committee has published a report criticising HM Revenue & Customs’ Making Tax Digital (MTD) project, which will require small businesses, landlords and the self-employed to keep digital records of income and outgoings and report them…
Read more
New guidance has been issued by HM Revenue & Customs concerning a recently discovered capital gains tax avoidance scheme. HM Revenue & Customs has identified a scheme that attempts to exploit Entrepreneurs’ Relief by turning income into a capital gain,…
Read more
HM Revenue & Customs has commissioned Ipsos MORI to conduct an independent survey to assess what motivates people to set up trusts, to help them understand the impact of policy changes in this area. Ipsos will give £50 to each…
Read more
The National Audit Office has warned that HMRC will need to build public trust in its new digital services The NAO said in the Revenue’s 2015/16 report and accounts that, while its plan to have “the most digitally advanced tax…
Read more
The National Audit Office has confirmed that HM Revenue & Customs has not tried to estimate the costs for individual taxpayers and businesses of its planned transition to online quarterly financial reporting. The NAO’s review of HMRC’s 2015/2016 annual accounts…
Read more
The National Audit Office has published a report criticising HM Revenue & Customs for not providing adequate customer services between 2012/2013 and 2015/2016 during which waiting times significantly increased. Self-assessment callers during the crucial deadline week to 31st October for…
Read more