Cloudkeepers

Making Accounting Simple | The Future of #Digital #Cloud #Accounting | [email protected] 📱 020 7118 9799

[Cloudkeepers @cloudkeepers_uk]

Expenses just got a whole lot easier with the @ReceiptBank Credit card. Find out more here: https://t.co/myRK3hkW6F

[Cloudkeepers @cloudkeepers_uk]

Worried that clients won't utilise cloud solutions? @ReceiptBank's combine mode makes it so easy for them to submit items: https://t.co/zpBV9ldERB

[Cloudkeepers @cloudkeepers_uk]

Taxpayers who are having difficulties with their tax bills have limited awareness of the help available to them. Research shows taxpayers believe #HMRC should be doing more to promote any available support. Get in touch to see what support we can offer you!

[Cloudkeepers @cloudkeepers_uk]

From April 2020, within the private sector, it will be the employer’s responsibility to determine an individual’s employment status. #HMRC has published guidance on the new rules for off-payroll workers. https://t.co/XcpEVztEie #IR35

[Cloudkeepers @cloudkeepers_uk]

According to an Intuit QuickBooks survey UK small business owners spent an average of 86 minutes checking their #VAT returns for #HMRC. Over half (51%) made mistakes and only 27% feel confident their return is correct.

[Cloudkeepers @cloudkeepers_uk]

#HMRC turns the spotlight on inheritance tax payments as it focuses on anti-avoidance activity. In 18/19 HMRC opened over 5,000 #IHT investigations which is nearly 25% of the 22,000 estates liable for inheritance tax. Totalling at 5,537 up from 5,354 the previous year.

[Cloudkeepers @cloudkeepers_uk]

Only 25% of #VAT registered financial firms have signed up for Making Tax Digital despite the deadline fast approaching. HMRC have stated ‘we won’t be issuing filing or record keeping penalties to businesses doing their best to comply’ in the first year. #MTD

[Cloudkeepers @cloudkeepers_uk]

HMRC increased efforts in targeting Brits living offshore has nearly doubled the tax yield in two years. Collecting £560m in unpaid taxes and launching over 800 investigations last year alone.

[Cloudkeepers @cloudkeepers_uk]

HMRC’s powers to investigate and prosecute businesses for tax evasion has been bolstered by the ‘Criminal Finance Act’. Businesses are now liable for the action of any employees or contractors, under the ‘failure to prevent’ rules which were brought in last year.

[Cloudkeepers @cloudkeepers_uk]

#HMRC is utilising its sophisticated AI tools alongside its £80m Connect database when investigating taxpayers. Connect collects data from numerous sources and cross-references against tax returns and other sources to flag up individuals and business for investigation.

[Cloudkeepers @cloudkeepers_uk]

Amidst increasing financial pressure in the restaurant industry #HMRC is looking towards the sector for potential tax evasion. HMRC has a range of taskforces focused on investigating the industry and a keen interest in lost tax through tips, which can be difficult to monitor.

[Cloudkeepers @cloudkeepers_uk]

With #HMRC showing an increasing interest in the employment status of those under #IR35 and the coming changes to the Private Sector in April 2020 now is the perfect time to review your compliance of the IR35 legislation. Contact us for more information.

[Cloudkeepers @cloudkeepers_uk]

#HMRC raised £178m of tax revenue (Apr ’16 – Dec ’18) using the direct recovery of debt (DRD) power. £60m of this was collected from Apr-Dec ‘18. With the majority of payments recovered early in the process, HMRC claims the #DRD is proving to be an effective deterrent.

[Cloudkeepers @cloudkeepers_uk]

The National Minimum Wage (#NMW) and National Living Wage (#NLW) rates increased with effect from 1st April 2019. Our infographic explains what has changed.

[Cloudkeepers @cloudkeepers_uk]

With Making Tax Digital for #VAT around the corner we have decided to demystify some of the most common misconceptions surrounding #MTD in our myth-buster infographic below.

[Cloudkeepers @cloudkeepers_uk]

#HMRC has decided to delay sending late self-assessment penalty notices due to #Brexit. Which could see some of the 731,186 taxpayers, who missed the deadline, paying additional penalties on top of the initial £100 late fee.

[Cloudkeepers @cloudkeepers_uk]

Making Tax Digital for VAT comes into effect on 1st April 2019. HMRC has confirmed companies will be able to use a ‘cut and paste’ approach, instead of digital links, during the one-year soft landing. This is likely to last until at least April 2020. #MTD #VAT

[Cloudkeepers @cloudkeepers_uk]

For many, January is a tough month financially especially if you were paid early before Christmas. Don’t make matters worse by missing the self-assessment deadline on the 31st January. Avoid the £100 penalty and make sure you submit your tax return on time.
#SATR #SelfAssessment

[Cloudkeepers @cloudkeepers_uk]

Time is running out for the 31st January self-assessment tax return deadline. Don’t risk any late fees. Get in touch for any help you may need. #selfassessment #SATR #HMRC

[Cloudkeepers @cloudkeepers_uk]

The deadline for self assessment is fast approaching

#SelfAssessment #HMRC #Tax #Accountant #Accounts #January31 #Cloudkeepers #Bookkeeping #Income #SelfEmployed