The Night Time Industries Association (NTIA) has recently revealed that due to the pandemic, 393,000 jobs have ended across the night-time economy. Read more
“Night-time economy”- is it back on its dancing feet?
Accounting
Personal tax: Take home more of what you earn with these tax-saving tips
More workers than ever are finding themselves getting close to or exceeding the higher rate tax bracket, recent figures have revealed. Read more
Buoyant firms return £1.3 billion furlough cash to Treasury
The Coronavirus Job Retention Scheme (CJRS), or furlough, closes at the end of September and has benefited millions of workers during the COVID-19 pandemic. Read more
MTD for Income Tax delayed until April 2024, HMRC confirms
Making Tax Digital (MTD) for Income Tax will be delayed until April 2024, the Government has confirmed. Read more
Company insolvencies: over 8,700 chain stores have closed
Recent research shows that in 2021, over 8,700 chain stores have closed due to the major shift in online shopping – partly caused by the coronavirus pandemic. Read more
What are year-end accounts and how can I prepare for them?
If you’re new to business, year-end accounts may seem like a daunting prospect. But with the right preparation, advice and approach, you will have nothing to worry about.
File Companies House accounts online to avoid delays, businesses told
Businesses have been urged to file Companies House accounts online as coronavirus disruption continues to significantly delay processing times.
Tax Investigations – are you protected if HMRC selects you for an enquiry?
No one wants to be under the unwelcome glare of the HM Revenue & Customs (HMRC) spotlight but investigations are rising which means there is an increasing chance that, one day, you may need to deal with a tax enquiry.
You may not even consider that you have done anything wrong. HMRC randomly carry out spot check enquiries. If they find anomalies this can quickly escalate into a full-scale investigation which can be both stressful and costly to defend.
What type of investigation might I face?
Traditionally, VAT returns are the most common type of investigation although any area of tax where HMRC believes there may be a discrepancy can trigger an enquiry.
Most recently, we have become aware of a significant increase in investigations into Self-Employment Income Support Scheme (SEISS) grant overpayments, bounce back loans and furlough payments.
Those targeted by HMRC are often unlikely to know they have over-claimed until they receive a notice from HMRC.
Businesses can also be chosen at random and even if you have done nothing wrong, the cost of defending yourself by obtaining the necessary financial evidence can quickly add up.
Tax investigation protection for peace of mind
We understand how stressful a tax investigation or enquiry can be which is why we offer a comprehensive tax enquiry service that is backed by specialist cover – to meet the full cost of dealing with and defending your case.
Our Tax Investigation Protection Scheme starts at just £60 per year for private clients, £150 for a sole trader and £300 for a limited company. Compared with the significant costs associated with defending a tax investigation, it’s a relatively small price to pay for peace of mind.
Annual deadline approaching – act now
The deadline for enrolling in our annual Tax Investigation Protection Scheme is 30 September 2021 so if you would like to take out cover or find out more, please contact us.