HMRC introduces risk based scoring for IR35

IR35 is concerned with companies as intermediaries providing personal services, rather than them being provided personally as an employee.

HMRC is trying to lay down the law by publishing a risk based scoring system to decide whether a company is at a low, medium or high risk of being assessed for IR35.  While the principles have been in place for several years and there are many case law decisions it is a radical step to rationalise these.  The risk levels are as follows: read more

Budget Summary 2012

Most of the key changes in the Budget had already been leaked before the Chancellor stood up, although not necessarily the exact details.  There were a few headline grabbing changes read more

Company directors pay for 2012/13

If you are a company director and are paying yourself a low salary and topped up with dividends allow read on.  Up to 5 April 2012 you are probably paying yourself £589 per month, this is greater than the NI Lower Earnings Limit at which you build up state entitlements but below the Secondary Threshold at which point the employer starts paying read more

Year end information for your accountant for Quickbooks users

The details provided below are in response to requests from clients of AW Accounting in Gravesend for details of what to provide at the year end.  This specifically relates to Quickbooks read more

Computer records – what does my accountant need?

It is no longer necessary to box up all of your records and send them down to your accountant. If you keep your records electronically read more

Is it worth me getting a company car?

The first question is always why do you want a company car and what do you want to use it for, in many cases a van or low emission car

iQ driven to #autotweetup by Scott Brownlee

may be more appropriate, depending on the use it may be free or a low cost benefit.  However if you are looking for a regular family car read more

Tax thresholds and planning opportunities 2011/12

There are lots of thresholds which can be utilised or avoided in order to make the most use of the  tax system.  As accountants we need to consider each clients personal situation to make sure that we make the most of the opportunities while minimising their tax bill.  read more

Can I claim R&D Tax Credits?

I recently attended a tax update course and the lecturer was very enthusiastic about R&D tax credits and the regime to positively encourage investment through the taxation system.  Costs specific to a qualifying project are eligible for 200% tax relief read more

HMRC Spam emails and hacked Twitter account

There have been two incidents which have reminded me of the danger of online transactions in the last few days:

HMRC spam repayment claim email

A client of mine received an email directing him to a website which as you can see looks pretty realistic at first sight.  He was only forewarned by some spelling and grammatical errors in the original email. read more

Badges of trade – HMRC targeting Ebayers

HMRC target Ebayers

You may have heard about HMRC targeting people carrying on a business on Ebay, or bootsales.  HMRC are always keen to collect additional tax read more