News

HMRC announced today1 that the phonelines helping taxpayers with Self-Assessment queries will be closed from Monday, 12 June until 4 September, freeing up advisers to take urgent calls on other lines and answer customer correspondence.

The Association picked up the award yesterday (18 May) after topping a public vote ahead of six other organisations.

The cash basis allows self-employed people to calculate their profits and therefore their income tax based on when income is received or payments made, rather than the traditional accruals basis accounting method, which records income and expenses when they are invoiced

We have responded to the HMRC consultation

Many business owners are struggling with cashflow concerns and may be worried about how to keep on top of bills such as their monthly PAYE and NIC payments due to HMRC. In these cases, a Time to Pay (TTP) arrangement may help.

During the pandemic, a specific easement was introduced to allow employers to pay for, or reimburse the cost of, Covid testing for their employees without any tax consequences for either party.

HMRC have started writing to businesses they suspect may not have paid the correct Income Tax, Corporation Tax and/or Value Added Tax due to the use of Electronic Sales Suppression tools in their till systems. 

The Government confirmed that businesses which specialise in making repayment claims will need an Agent Services Account (ASA) to file such claims on behalf of their clients from 2 August 2023.

The Government has today published a discussion document1 on the possibility of suspending the usual tax rules for selected group of taxpayers for a limited time, which would allow it to explore the effects of changes in policies or processes before rolling them out to the wider taxpay