HMRC Additional Powers to Collect More Tax HMRC have recently been given new powers to access taxpayer information. This relates to anyone who may have offshore bank accounts or assets. HMRC are now issuing what is called “nudge letter” to anyone suspected of having undisclosed offshore assets. The finance bill 2020-21 introduces the financial institutional […]Read More
Coronavirus Business Interruption Scheme Coronavirus business interruption scheme summary:- you can get further information here. 1. Loan from £25,001 to £5m 2. Terms from 1-6yr 3. No interest for 12mths 4. Capital repayment holiday for 12mths, so some businesses wont have to pay anything for 12mths. 5. Loans limited to 25% of 2019 turnover or […]Read More
Major change in capital gains tax rules for landlords On 6th April 2020 capital gains tax rules change and landlords will now have just 30 days to pay any capital gains tax due. Prior to 6th April 2020 if you sold a property on 1st May 2019, you wouldn’t have to pay the capital gains […]Read More
HMRC Credit Card Changes As of 31st January 2018 HMRC credit card changes come into effect. That means you can no longer use your credit card to pay for income tax, NI or VAT. However, debit cards and corporate credit cards will still be accepted. HMRC credit card changes have likely come into effect due […]Read More
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