Vale & West Chartered Accountants Blog

Category Archives:Accounting

HMRC publishes Making Tax Digital ‘Mythbusters’ helpsheet

HM Revenue & Customs (HMRC) has published a Making Tax Digital (MTD) ‘Mythbusters’ helpsheet to clarify the current situation regarding businesses and MTD. Read More

Political uncertainty continues to stunt growth among small business community

More than seven in 10 small businesses have held back on investment while Brexit uncertainty continues to loom overhead, a new study has revealed. Read More

Serco fined additional £23 million over false accounting charges

Outsourcing giant Serco has been fined an additional £23 million over fraud and false accounting charges, a report has revealed. Read More

Making Tax Digital – important updates

The VAT notice for Making Tax Digital (MTD) has been updated, relaxing the rules to help clients. Read More

A quarter of major defaulters on HMRC list are in the restaurant and takeaway industry

A quarter of the cases on HM Revenue & Customs’ (HMRC) list of major defaulters are from the restaurant and takeaway sector, according to the latest data. Read More

ICAEW gives UK economy the green light

The UK economy has weathered the worst of the Brexit financial fallout and should be able to continue without “too much damage”, experts have said. Read More

Increase in lost self-assessment tax

According to HM Revenue & Customs (HMRC), it failed to collect £7.4 billion of self-assessment tax in 2017-18, and this was an increase of 10.5 per cent on the previous year when individuals did not pay £6.7 billion. Read More

UK ‘tax gap’ at record low, figures reveal

The tax gap – the difference between the amount of tax that should be paid and what is actually paid – has shrunk to just 5.6 per cent. Read More

Industry bodies call for Government to delay IR35

UK industry is calling for the Government to delay plans to extend the IR35 tax law to the private sector. Read More

Next Steps for Making Tax Digital

Making Tax Digital (MTD) was launched in April 2019 for VAT. Now, hundreds of thousands of VAT-registered businesses who are above the VAT threshold of £85,000 are recording and reporting their accounts digitally to HM Revenue & Customs (HMRC). Read More

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