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HMRC advisory fuel rates for company car users from 1 March 2024

HMRC has published the latest advisory fuel rates (AFR) for company car users, effective from 1 March 2024

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Tax scam phone calls, emails and text messages

HM Revenue and Customs (HMRC) have recently published updated their guidance on how to identify tax scams made by phone, email, or text.

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HMRC targets undeclared dividend payments

Company directors suspected of earning dividends without declaring their taxable income are being contacted by HMRC

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Holidaymakers will be charged Greek climate tax

The Greek government has introduced a climate resilience tax on accommodation booked by tourists, charged on a nightly basis

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Minimum wage rates increase from 1 April 2024

Employers should be aware that all minimum wage rates increase on 1 April of each year. For 2024, these increases are substantial. The increases apply to all National Minimum Wage rates and the National Living Wage rate.

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National Minimum Wage - HMRC Offer Compliance Support to Employers

HMRC has released their December issue of The Employer Bulletin with important updates on the National Minimum Wage and their offer of Compliance Support for employers

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Can you create more “productive “time?

For many small business owners, if they have one consistent issue, it would be that there is simply not enough time in the day to achieve all the things that need to be done.

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HMRC plans to reduce phone line access by 30%

The head of HMRC Jim Harra has told MPs he aims to cut the volume of phone calls to HMRC advisers by nearly a third by the end of 2024 and will shut more helplines

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HMRC clarifies tax on home charging of company cars

HMRC has amended guidance on the tax treatment of electric charging of company cars and vans at residential properties

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South Yorkshire secures £80m for investment zone

Sheffield, Rotherham, Doncaster and Barnsley are set to benefit from thousands of new jobs and £1.2bn of investment as Boeing signs up to investment zone

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HMRC Annual Report shows important trends for business owners

HMRC’s annual report was published last week, and it shows that they failed to meet many of their key customer services measures in 2022-23.

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HMRC will use AI to target tax evaders

HMRC plans to increase the use of artificial intelligence and machine learning to target tax evaders and non compliant taxpayers

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Tax Planning opportunities ahead of the new tax year

The new tax year starts 6 April 2023, so you have limited time to consider your options and once we pass this date, the majority of the tax planning options for Income Tax and Capital Gains Tax purposes will cease unless actioned this month.

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Avoid the tax traps when giving money to children

As the cost of living crisis intensifies, shoring up the financial future of your children and other young family members has never felt more important but beware the tax traps

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Don’t miss the P11D deadline

Despite the coronavirus lockdowns, HMRC still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline

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Tax defaulters owe £22m after 30% increase

HMRC has published its latest quarterly listing of deliberate tax defaulters’ details, with 115 names on the list of those who have received penalties either for deliberate errors in tax returns or for failing to comply with tax obligations

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Counterfeit goods costing UK economy £9.2bn

The UK economy is missing out on billions a year as a result of the global trade in counterfeit goods, which was behind more than 86,000 lost jobs in 2016, according to the OECD

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Grocery delivery company tops deliberate defaulters list with £1.14m tax bill

HMRC’s latest list of major tax defaulters owing over £16.5m in unpaid tax, was topped by a grocery delivery company owing £1.14m and a metal and industrial chemical company owing £1.1m, with buy-to-let landlords, online traders and accountants, also featuring

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Taxman eating away at tax evasion in restaurant sector

HMRC is ramping up a campaign targeting restaurants and takeaways as financial stress makes tax evasion more tempting for smaller operators, according to analysis from BDO

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Cuts to grants ‘affecting sales of electric cars in the UK’

A report published by the European Automobile Manufacturers' Association (EAMA) has suggested that sales of electric cars in the UK are being affected by the government's decision to reduce the grant for buyers of so-called 'green' vehicles.

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