HMRC has begun to issue ‘nudge letters’ to cryptoasset owners who may have underpaid tax when selling their assets, urging them to amend or submit a tax return. In this rapidly evolving sector, asset holders are not always clear on … Continue reading
SME late payments surge: How to mitigate the impact
The issue of late payments has become a growing concern for small businesses. Recent data from Xero Small Business Insights reveals that, on average, payments were made 7.3 days late between April and June 2024. This is an increase of … Continue reading
How to keep your business afloat amid rising HMRC pressures
Recently, there has been a significant increase in company closures due to petitions from creditors, particularly HM Revenue & Customs (HMRC). In 2023, forced closures rose by 63 per cent compared to 2022. This spike is mainly due to high … Continue reading
Worried about a new tax bill? A guide for pensioners
Recently, many pensioners received surprising news: a tax bill for the first time. This stems from HM Revenue & Customs (HMRC) decision to send letters to over 140,000 pensioners, who have taxable income but are not filing Self-Assessment. In total, … Continue reading
Audit rules are changing – Get ready
In a bid to ease the regulatory burden on businesses, new thresholds for classifying company sizes have been announced. This change, introduced by the previous Government, could allow around 132,000 businesses to skip mandatory audits. Under the current plans, which … Continue reading
