Uncategorized
Increasing number of scam emails and telephone calls reported
Increasing number of scam emails and telephone calls reported Companies House has reported an increase in scams as letters and telephone calls pretending to be from them have come to light. The following link that has been published, not only tells you what to do if you receive a letter or telephone call from Companies…
Read MoreHMRC releases information regarding businesses with HMRC debt
HMRC releases information regarding businesses with HMRC debt Reports from HMRC suggest that companies are struggling to pay tax bills on time with arrears to HMRC running at an average of £28bn per month, with official figures, which have been obtained from HMRC under the Freedom of Information, revealing the scale of unpaid debts owed…
Read MoreHMRC will begin to fine Crypto investors £300 for non-disclosure
HMRC will begin to fine Crypto investors £300 for non-disclosure Regulations introduced in the UK as part of Crypto-asset Reporting Framework (CARF) which require crypto platforms to share detailed information with tax authorities of clients’ crypto transactions, will come into effect from 01 January 2026. UK crypto holders will now have to provide personal details…
Read MoreHMRC is continuing to urge ‘side hustlers’ to complete tax returns
HMRC is continuing to urge ‘side hustlers’ to complete tax returns Under existing tax rules, as soon as you earn over £1,000 in a tax year through a ‘side hustle’ you will need to register with HMRC and file a self-assessment tax return. A side hustle can come in various forms, from creating monetised content,…
Read MoreAnother 500,000 people are now in the 45% tax bracket
Another 500,000 people are now in the 45% tax bracket Recent data released has shown that the number of additional taxpayers facing the 45% tax rate has increased rapidly since 2022-23, with more than 1.2m people now in this bracket. Percentage wise additional rate taxpayers now make up 3.1% of the total income of the…
Read MoreCompanies House ‘clean up’ is underway!
Companies House ‘clean up’ is underway! It has been reported that Companies House and the Insolvency Service have worked collaboratively to shut down thousands of companies thought to be involved in ‘illicit activities’, such as using fraud to incorporate businesses in the UK. By working together they have managed to catch up with 30 entities…
Read MoreLate payment penalties rise to 10%
Late payment penalties rise to 10% From this tax year, the slowest payers will face a ‘more than doubling’ in the penalty rate with no time to avoid this as the hike is already in place. As part of the push to close the tax gap, late payers will face a much tougher penalty regime…
Read MoreUnderstanding CITB Levy Returns: What You Need to Know!
Understanding CITB Levy Returns: What You Need to Know! A CITB (Construction Industry Training Board) Levy Return is an annual form that registered employers in the construction industry must complete and submit. The return assesses the amount of levy owed to the CITB, and the funds collected via the levy are used to fund training, such…
Read MoreHMRC expected to raise £255M in late payment interest
HMRC expected to raise £255M in late payment interest HMRC recently cut the late payment interest rate to 8.25% following the Bank of England’s 0.25% base rate cut in May but it is still historically as high as it was in 2007 at the time of the financial crash. With effect from 6 April 2025,…
Read MoreUpdates from Companies House as the Economic Crime and Corporate Transparency Act 2023 (ECCTA) continues its roll out!
Updates from Companies House as the Economic Crime and Corporate Transparency Act 2023 (ECCTA) continues its roll out! Companies House has published updated guidance on the circumstances in which a company can be struck off the register and dissolved, reflecting a number of recent reforms made ECCTA, which have been summarised below. Strike off by…
Read More