Author: Tony Shackleford

Overseas Traders Evading UK VAT

Written by Tony Shackleford on April 29, 2024.

In January 2024 HMRC commenced writing to approx. 12,000 businesses which it believes are based overseas, but incorporated in the UK. The main purpose for the companies to be registered in the UK...

Amazoin and Ebay VAT, HMRC, VAT avboidance

High Earners Removed from Self Assessment

Written by Tony Shackleford on April 22, 2024.

HMRC have announced that individuals who earn in excess of £150,000 through PAYE schemes, will no longer need to submit self-assessment tax returns. 12 months ago HMRC removed the requirements to...

high earners tax returns, HMRC, Self assessment

HMRC Tax Enquiries

Written by Tony Shackleford on April 15, 2024.

Statistics produced by HMRC earlier this year, indicated thaty HMRC is undertaking less than half the number of tax avoiudance enquiries as it undertoook pre pandemic.

HMRC, HMRC Enquiries, Tax avoidance

UK State Debt

Written by Tony Shackleford on April 9, 2024.

The ICAEW have recently reported that the UK Public debt as at 31 March 2022 totalled £6.3 trillion. This does not include studenbt loan debt nor accrued state pension which has been accrued . The...

Public secto debt

Budget March 2024

Written by Tony Shackleford on April 4, 2024.

The principal tax changes announced by the Chancellor in the March 2024 budget were: a) A further reduction in Employees NIC rates for the employed from 10% to 8% from 6 April 2024. No changes were...

Budget, capital gains tax on residential properties, Furnished holiday let, High Income Child Benefit Charge, National insurance contributions, Vat, VAT registration

HMRC Call Centres

Written by Tony Shackleford on March 20, 2024.

Within the space of 24 hours HMRC has backtracked on an announcement to significantly cut the operations of its call centres. This is liklely yo be a temporary delay in the call centre cut backs,...

HMRC, HMRC Call Centre, HMRC helplines

Tax Changes For Tax Year 2024/25

Written by Tony Shackleford on March 1, 2024.

There are a few significant changes which the government has previously announced to tax rates etc, which are due to take effect at the start of the 2024/25. The principal changes are: a) Reduction...

Capital gains tax exempt band, Class 2 NIC, Class 4 NIC, dividend income exempt band, National Insurance, pensions lifetime allowance, Tax year basis

High Income Child Benefit Charge

Written by Tony Shackleford on November 20, 2023.

The High Income Child Benefit Charge (HICBC) is a mechanism for high earners to have to repay Child Benefit they receive. Where one spouse has income in excess of £50,000 per year, Child Benefit...

Child Benefit, High Income Child Benefit Charge

Student Loan Repayments

Written by Tony Shackleford on November 16, 2023.

HMRC receently announced that certain taxpayers who have student loans have overpaid their student loan deductions. The errors is in respect of approx. 16,000 taxpayers who submit self assessment...

HMRC, Student loan deductions

VAT For On Line Traders

Written by Tony Shackleford on November 7, 2023.

The current regime as regards VAT for online traders, is that where a trader in non-uk based, the online platforms (Amazon Ebay etc) are required to collect UK VAT on the sales made on their...

Amazon VAT, Vat

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Author: Tony Shackleford