HMRC Archives - Page 12 of 21 - Whitefield Tax - Isle of Wight Accountants

If the tax return is wrong, who is to blame?

by Jessica Garbett | Aug 26, 2016 | ACCA, HMRC, personal taxatation

Such situations can be complicated – as these two examples demonstrate. The case law involving ‘duty of care’ is extensive and detailed. Rather than wade through all of the historic precedents and try to apply them to ‘wrong tax returns’ it is more interesting to...

Change in end of year reconciliation letter

by Jessica Garbett | Aug 23, 2016 | ACCA, HMRC, personal taxatation

HMRC is testing a change with taxpayers. From 1 August some taxpayers due a refund may see a slight change to the end of year reconciliation letter they receive (P800). HMRC will be testing how this change works with the aim of getting taxpayers to use their Personal...

Extracting funds from a limited company – HMRC has renewed its interest in how businesses extract funds

by Jessica Garbett | Aug 16, 2016 | ACCA, business taxation, HMRC

A common scenario at any stage in the life of a private limited company would be shareholders contemplating retirement and therefore extraction of funds is on the agenda. Sounds straightforward enough? Accountants advising clients know that this issue is far from...

HMRC’s position on voluntary tax returns

by Jessica Garbett | Aug 9, 2016 | ACCA, HMRC, personal taxatation

HMRC has clarified its position on voluntary tax returns. ‘HMRC’s long-standing policy is to accept voluntary ITSA individual and partnership returns on the same basis as returns received pursuant to a s8 TMA1970 notice, where the clear intention of the person...

HMRC’s improved security verification procedure

by Jessica Garbett | Aug 9, 2016 | ACCA, HMRC

Online security being beefed up by HMRC. In March, HMRC introduced 2 Step Verification (2SV) which involves using a code sent to a mobile or landline phone along with the usual login details in a trial for business customers registered for self-assessment. HMRC has...

Your view: tax coding notice

by Jessica Garbett | Jun 2, 2016 | ACCA, HMRC, personal taxatation

HMRC is seeking your comments on an early draft of Tax Coding Notice (P2). After digesting the information below and also elsewhere online, do you feel it provides sufficient detail for you or your clients to be useful? HMRC says ‘The HMRC Personal Tax Account...

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Next Entries »

If the tax return is wrong, who is to blame?

Change in end of year reconciliation letter

Extracting funds from a limited company – HMRC has renewed its interest in how businesses extract funds

HMRC’s position on voluntary tax returns

HMRC’s improved security verification procedure

Your view: tax coding notice

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