Various warnings have been issued in recent days regarding malicious calls and voicemails which have been made to members of the public pretending to represent H.M Revenue & Customs. UK taxpayers and business owners have been asked to be extremely cautious when receiving phone calls from individuals stating that they are calling regarding outstanding tax…
By Chris Photi, Head of Travel and Leisure at White Hart Associates Thinking of acquiring? Most travel industry entrepreneurs dream of selling their business and retiring in luxury after a big final pay day. And despite uncertainty over Brexit leading to a difficult market, there is still plenty of appetite for expansion through mergers…
Audit & Taxation Director Mark Caldicott provides his expert opinion on how IR35 rules will affect the private sector. Several BBC presenters recently received a nasty shock in the post. HM Revenue & Customs has written to them demanding PAYE (Pay As You Earn) tax and National Insurance (NI) from the personal service companies…
During the ABTA Travel Finance Seminar last week, there was some confusion regarding Making Tax Digital (MTD) and Tour Operators Margin Scheme (TOMS). In particular, the question was raised as to the proposed staging date. As you will likely be aware, the date in which MTD ceases as a pilot scheme and becomes live is…
What’s it all about? If you’re fond of listening to the radio, the chances are that you’ve heard the government’s catchy advertisement for ‘Making Tax Digital’ (MTD). It’s the latest initiative from Her Majesty’s Revenue and Customs (HMRC) to simplify the tax system. In a nutshell, we’re eventually going to have to submit all tax…
Last month HMRC issued Revenue and Customs Brief 13 (2018) outlining changes to the VAT treatment of retained payments and deposits. For travel organisers using the Tour Operators Margin Scheme (“TOMS”) this will mean that from 1 March 2019 cancellation income cannot be isolated from the TOMS calculation as currently. HMRC Brief 13 2018 Of…
