HMRC is urging employees that they can claim for employment-related expenses directly from the Gov.uk website each year. Currently 70% of claimants are using repayment agents, who often take a hefty cut of any tax refund due.
ICAEW changes to a verifiable CPD model
The Institute of Chartered Accountants in England & Wales (ICAEW) is moving away from the Continuing Professional Development (CPD) 'output-based' model, where members self-assess their needs to complete an amount of CPD appropriate to their role, to a model which sets a minimum number of hours including a minimum number of hours that are 'verifiable' depending on your role as an accountant.
EIS, SEIS & SITR grow in popularity
HMRC have released statistics showing an increase in the number and amount of investments made under the Enterprise Investment Scheme (EIS), Seed Enterprise Investment Scheme (SEIS) and Social Investment Tax Relief (SITR) scheme.
Nichola's SME Tax W-update 18 May 2023
Hello,
One of our case reports this week concerns a partially successful appeal against a clawback of an employer Coronavirus Job Retention Scheme (CJRS) payment. The First Tier Tribunal (FTT) accepted evidence of physical payment of wages after HMRC rejected what appeared to be a late claim due to a delay in PAYE payroll reporting.
Nichola's SME Tax W-update 11 May 2023
Hello,
This week we have a new 2023-24 guide for Landlords, the ICAEW calls for a re-think on Making Tax Digital for Income Tax (MTD ITSA) and film scheme investors fail in their attempts to sue for negligence.
Nichola's SME Tax W-update 4 May 2023
Hello
In this week's update, we are having a deep dive into HMRC's Tax Administration and Maintenance day documents and consultations. 'TAM' day was last Thursday and we have made you an 'At a glance summary' so you can decide whether you want to learn more.
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