Monthly Archives: May 2015

Online Form WT2 For Claiming a Reasonable Excuse For a Late VAT Return HMRC have updated their online form WT2 for a business that wants to claim a reasonable excuse to contest a VAT surcharge following submitting a VAT return … Continue reading

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Summer Budget on 8th July

The Treasury have announced the post-election summer budget is to be on Wednesday 8th July. Eamon McNicholas Tax Barrister, Accountant http://www.EamonMcNicholas.com

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European Commission and Digital Single Market

The European Commission this week launched an initiative for a digital single market. The EC factsheet states that in 2014 some 15% of consumers bought online from another EU country, but only 7% of SMEs sell cross-border in the EU. … Continue reading

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George Osborne Re-Appointed as Chancellor of the Exchequer

Following the election George Osborne has been re-appointed as Chancellor of the Exchequer, along with a promotion to First Minister of State. This should mean a broad continuation of the current tax regime set by the Treasury for HMRC to … Continue reading

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New Construction Industry Scheme (CIS) and Partnership Registration

There is a new registration form for partnerships needing to register for the Construction Industry Scheme (known as CIS, the special tax scheme for paying tax at source in the construction industry). Form CIS304 is on the HMRC part of … Continue reading

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VAT Forms Online and Software Suppliers

HMRC have published a list of software suppliers for online VAT tax returns. Their list shows recognised suppliers for filing, but HMRC stress they cannot recommend a supplier or be responsible. The list, published on 6th May, is available from … Continue reading

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European Competition and Tax Investigation into US Multi-nationals

The European Commission has given a progress report on its competition and tax investigations into US multi-nationals Apple, Starbucks, Amazon, along with FIAT. The commissioner, Margrethe Vestager, said she would not be able to finish the investigation this second quarter … Continue reading

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Does Online Car Tax Hide a Double Taxation Scam?

The online car tax scam is a good example of how government makes money through stealth taxes, hoping people won’t notice. The old paper-based car tax disc system worked and was well understood. By also requiring some involvement at Post … Continue reading

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Headline Taxes vs. Stealth Taxes

Figures from HMRC show that for the 10 years 2004-15 to 2014-15 while headline PAYE income tax receipts went up from £108.7bil to £138.9 bil there was a much bigger rise in less obvious, one-off or stealth taxes. National insurance … Continue reading

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Charities Reclaiming Back VAT

HMRC this week published VAT Notice 1001 on the VAT refund scheme for certain charities. This explains in detail the new VAT Act 1993 s.33C and s.33D brought in by the Finance Act 2015. The new law only applies to … Continue reading

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