There has been a rash of these enquiries in these last few weeks with a deliberately scary and sometimes perceived as threatening incoming letter demanding detailed explanations of why your claim qualifies, details of how the time of staff and consultants were...
tax
Five tips for achieving compliant cost analysis in R&D tax credit claims
UK Research and Development (R&D) tax reliefs are generous and relatively easy to claim, but in recent years HMRC has become increasingly concerned about non-compliant claims and fraud. This means companies can now expect a greater chance of HMRC scrutiny, so it’s...
Guide for Contractors on IR35
Introduction IR35 was introduced in April 2000 as the Intermediaries Legislation to tackle the problem the HMRC had with what they term “disguised employee”. What is a “Disguised Employee”? A “Disguised Employee” is an employee who works as a self-employed...
HMRC taxing Contractors deemed as Employees (IR35)
IR35 in the Public Sector How could this affect your business? Introduction IR35 is a piece of legislation that allows HMRC to collect additional payment where a contractor is an employee in all but name. If a contractor is operating through an...
My business is driven by technology – can I claim R&D Tax Credits?
Maybe you are creating apps or adapting existing software for cloud delivery (SaaS), or creating tools to make sense of big data, or using CNC machines to mill complex parts, or developing wearable tech or designing new medical devices …… the list is endless. Whatever...
Making Tax Digital
This is the new initiative by HMRC for which the consultation document has come out. Consultation will close 7th November with draft legislation in December and the start of implementation in 2017 with full implementation as from 5 April 2018 with all taxpayers on...
What you need to know about the new Person of Significant Control Register
With the tax crack down governments in the G20/EU have agreed to have legislation in place for transparency in ownership of companies and LLP trusts. The UK has this now in place and all companies/LLP's must have a register and declare their Persons of Significant...
Professionals Funding
Many professionals Struggle to pay Tax in July All professions have cash flow issues, just like the majority of companies. They have difficulty paying their VAT, Their Corporation Tax and Income Tax, as well as their professional indemnity insurance and Practice...