Latest from HMRC and Financial News

Important Financial News, information and advice that may affect your tax and accounting position.

By Brilliant Accountants

March 2021 Budget Summary

UK Budget Summary 2021
March 2021 Budget Summary Our summary of the main points of the Chancellors budget announced on 03rd March 2021. Contains Information relating to Individuals, Employees and Employers. Please note that some items are...

HMRC’s Brexit Plans

HMRC’s Brexit Plans
What Brexit VAT implications does your business need to be aware of? How businesses manage Value Added Tax (VAT) will radically change this year because of two events: the introduction of Making Tax Digital (...

New Tax Year Rates & thresholds

New Tax Year Rates and thresholds 2019
Unless otherwise stated, these figures apply from 6 April 2021 to 5 April 2022. PAYE tax and Class 1 National Insurance contributions You normally operate PAYE as part of your payroll so HMRC ...

What is Making Tax Digital?

What is Making Tax Digital?
Making Tax Digital (MTD) is an HMRC initiative designed to make sure the UK tax system is effective, efficient and easier for taxpayers. Making Tax Digital for business (MTD-FB) begins on 1 April 2019 wi...

Making Tax Digital (MTD) VAT

Making Tax Digital (MTD) VAT, Changes
Making Tax Digital (MTD) is an HMRC initiative designed to make sure the UK tax system is effective, efficient and easier for taxpayers. Making Tax Digital for business (MTD-FB) begins on 1 April 2019 wi...

Top 10 worst tax return excuses

Making Tax Digital (MTD) VAT, Changes
HMRC revealed some of the worst excuses submitted last year for late tax returns. The 10 worst excuses for missing the 31 January Self Assessment deadline for 2013 to 14 were revealed by HM Revenue and C...

What is Tax Avoidance

What is Tax Avoidance
Tax avoidance involves bending the tax rules to try to gain a tax advantage that was never intended. It usually involves contrived transactions that serve no real purpose other than to artificially reduce...

Digital Tax

Digital Tax
At the March 2015 Budget, the government set out the vision for a transformed tax system and the end of the tax return. Making Tax Digital sets out how this bold vision for the future of the ...

CIS Tax Refunds Apply Now

CIS Tax Refunds Apply Now
For those Sub Contractors working under the CIS Constrution Industry Scheme that believe they are eligible for a tax refund we would just like to remind you that although it is now well into the current tax year but y...

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