New penalty régime

HMRC have released Revenue & Customs Brief 19/08 on the New penalties that apply to returns submitted for tax periods starting on or after 1 April 2008 and due to be submitted after 31 March 2009. The new rules apply to several of the taxes that HMRC administer including VAT. The new penalty régime will be applied when a person (HMRC's term that … [Read more...]

How to get certainty on significant business tax issues

HMRC have just announced that they have extended the clearance service they gave to large businesses to all businesses. This means that VAT registered businesses can obtain a ruling on a transaction in advance so that they know what the correct VAT treatment should be, and will help them avoid VAT errors. How long to get an answer? HMRC have said … [Read more...]

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