Beware tax scams HMRC regularly warn taxpayers to be alert to fraudsters purporting to be from HMRC. Recently, they announced that in the last year they deactivated more than 20,000 fake HMRC websites, an increase of 29% on the previous year. HMRC have also called on people to stay vigilant to avoid falling for tax

OVERPAID TAX? HOW TO CLAIM IT BACK There are various reasons why you may have paid more tax than you needed to for a tax year. For example, if you only worked at the start of the year, you may not have received all of your personal allowance. Alternatively, if your tax code was incorrect,

TAX-EFFICIENT SAVINGS FOR ALL THE FAMILY Although interest rates remain low, there are still various tax-efficient savings incentives available which may help maximise potential returns. This article summarises some of these schemes. Help-to-save The Help-to-save scheme offers working people on low incomes a 50% bonus, rewarding savers with 50p for every £1 saved. Over four

FURNISHED HOLIDAY LETS COULD GET £10,000 COVID-19 GRANTS As part of a package of measures to assist businesses, the Chancellor announced £10,000 grants for businesses that qualify for Small Business Rates Relief. While these measures were clearly aimed at trading businesses, where a furnished holiday property is available to be let to the public for

CONSIDER VAT CASH ACCOUNTING IF CUSTOMERS ARE DELAYING PAYMENT Over the past few weeks’ we’ve had quite a few clients mentioning cash flow issues due to delayed payments from customers, as a result of the pandemic. This already puts them in a tricky position, but imagine then having to pay over the VAT element of