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Chancellor statements – 17 October 2022

Chancellor statements – 17 October 2022

The new Chancellor of the Exchequer, Jeremy Hunt, was only appointed on Friday 14 October 2022. However, following another turbulent weekend, the Chancellor made not one but two important statements

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NI Trader Support Service extended

NI Trader Support Service extended

The Trader Support Service was designed to help businesses moving goods under the Northern Ireland Protocol after the Brexit transition period came to an end. Under the Northern Ireland Protocol, all

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Jeopardy amendments

Jeopardy amendments

A jeopardy amendment can be made to a taxpayer’s Self-Assessment return as part of an S9A general enquiry. A jeopardy amendment should only be made where an HMRC officer believes there is an imminent

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Claiming Child Trust Fund cash

Claiming Child Trust Fund cash

If you turned 18 on or after 1 September 2020 there may be cash waiting for you in a dormant Child Trust Fund (CTF). If your children recently turned 18 you should also check if they have claimed the

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Final warning to use MTD for VAT

Final warning to use MTD for VAT

The Making Tax Digital (MTD) for VAT regime started in April 2019 when businesses with a turnover above the VAT threshold of £85,000 became mandated to keep their records digitally and provide their

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Residential Property Developer Tax

Residential Property Developer Tax

The Residential Property Developer Tax (RPDT) is a new tax on large residential property developers that came into effect on 1 April 2022. The new tax was first announced in February 2021 as part of a

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Employing someone step by step

Employing someone step by step

There are a multitude of rules and regulations that you must be aware of when you employ staff.

HMRC’s guidance (entitled Employ someone: step by step) sets out some important issues to be aware of

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Statutory interest

Statutory interest

Taxpayers that are owed VAT repayments by HMRC are entitled to claim statutory interest under certain circumstances. Where this is the case, a claim should be made in writing to HMRC. VATA s78 (11)

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Income Tax in Scotland

Income Tax in Scotland

The Scottish rate of income tax (SRIT) is payable on the non-savings and non-dividend income of those defined as Scottish taxpayers.

The definition of a Scottish taxpayer is generally focused on the

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Small Business rate relief

Small Business rate relief

Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. Some properties are eligible for discounts from

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How the VAT Reverse Charge works

How the VAT Reverse Charge works

The VAT domestic reverse charge accounting mechanism was put in place to help prevent criminal attacks on the UK VAT system by means of sophisticated fraud.

UK businesses receiving certain specified

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Government U-turn on 45p tax rate

Government U-turn on 45p tax rate

The Chancellor, Kwasi Kwarteng has announced plans to scrap the proposed removal of the 45p tax rate from April 2023. The proposed removal of the 45p Rate was first announced as part of the Growth

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