HMRC have launched a campaign aimed at VAT rule-breakers. As part of this campaign they have confirmed that they will be sending letters informing certain businesses how to register to pay what they owe. The campaign is focusing on individuals and businesses trading above the VAT turnover threshold of £73,000 but who have not registered for VAT.
The Payments Council has announced that cheques will continue for as long as customers need them and the target for possible closure of cheque clearing in 2018 has been cancelled.
HMRC have issued some further guidance on Real Time Information (RTI) which may be useful to employers with regard to the introduction of RTI. RTI is a system of monthly/weekly PAYE returns which will replace the annual end of year forms.
It has been announced that the Cheque Guarantee Card Scheme will come to an end.
HMRC are warning that taxpayers are being emailed stating that they are entitled to a tax rebate.
Clients at Beaumont Seymour can relax in the knowledge that we are always anticipating and reacting to change.
Keeping on top of the latest government announcements, regulation changes and budget reports is vital for businesses to keep ahead. Your business will be the first to take advantage of the latest news.