The first group of employers will start using Real Time Information in April 2012, with 300 employers taking part in the pilot at this stage. HM Revenue & Customs are looking for more businesses to (more…)
Chartered Certified Accountants & Business Advisors
We are focussing our accountancy skills specifically on small businesses and tax payers in the North West and aim to offer an outstanding service, complete with helpful and trusted advice.
Here at Taylor Roberts, all our accountants are exceptionally knowledgeable when it comes to dealing with your imperative accounts.
Insurance survey reveals UK businesses take risks
November 28, 2011
A recent survey carried out by Hiscox insurance company, reveals that 30 percent of Small and Medium Enterprises are willing to take risks and only take out minimum insurance cover. SMEs told the insurance company that they only take out minimum insurance against employers’ liability, transport and property. (more…)
HMRC to crack down on medical profession – again
November 26, 2011
Following the success of the Tax Health Plan, launched in January 2010, HM Revenue & Customs is to launch the second phase of the initiative. Letters will be issued to medics whose affairs are not in order, giving 21 days for individuals to provide a response. The initiative could affect (more…)
Business groups call on government for tax incentives
November 24, 2011
Leading business groups are calling for the government to introduce incentives and tax breaks, to encourage employers to take on new recruits. As unemployment reaches the (more…)
Small businesses accept cash to dodge the tax man
November 22, 2011
New research suggests that some small businesses could be accepting cash payments from customers, so they can dodge the tax man. Crunch Accountancy carried out a (more…)
Business leaders call for 50p tax rate to be axed
November 18, 2011
In an open letter to the Chancellor, 30 senior business leaders call for the abolition of the 50p tax rate, in order to boost the economy. The letter, which was published in (more…)
National Audit Office labels online filing a success
November 16, 2011
According to a report produced by the National Audit Office, online filing of self-assessment tax returns by taxpayers has been a huge success. However, the report isn’t as clear when it comes to value for money, as HM Revenue & Customs were unable to make a comparison between online and paper filing.
Self-assessment tax returns have been submitted online by 11.5 million taxpayers, according to the report. A number of online users expressed dissatisfaction with the website of HMRC, while the Low Incomes Tax Reform Group have called for suitable alternatives to taxpayers who don’t have access to the Internet.
Online filing has been a cost effective move for HMRC, with reduced costs of stationary, storage, postage and processing. HMRC figures reveal that increased filing online has produced savings of £126 million. As HMRC can’t compare costs of online filing with paper submission, the report states that it is unable to verify whether value for money and benefits have been maximised in the long term.
The report detailed problems with receiving details to log in to the self-assessment system, and access to the system during busy periods, especially in the period just before the filing deadline. Companies and sole traders who outsource to small business accountants can be sure that tax returns are submitted in a timely manner, avoiding large penalties.
The LITRG have said that encouraging businesses to file online is “reasonable and sensible”, but are calling for alternative provision for those without access to the Internet.
Poor credit control leads to misery for SMEs
November 14, 2011
Small and Medium Enterprises which don’t have sufficient control of credit, for themselves and customers, could face severe financial consequences, according to Experian. The information services company (more…)
Tax system not supportive to enterprise in UK
November 12, 2011
Research conducted by PwC has revealed that 71 per cent of businesses consider the UK tax regime to be unsupportive to enterprise. The same thing was said by only 59 per cent of respondents in 2007. New measures introduced by (more…)
New year introduces new legislation for back dated expenses claims
November 10, 2011
Workers who have a temporary place of work have traditionally been able to claim travelling expenses from home to their temporary place of work. Claims for the previous six years have also been claimed for, resulting in a payable order being issued for the whole amount. However, from the 1st of February 2012, taxpayers will no longer be able to claim for expenses or repayment of overpaid tax for (more…)
