Repayment Supplement when HMRC repay VAT late
Few people know that HMRC must pay the taxpayer a 5% penalty for VAT repaid late, the 5% obviously relating to the amount of [...]
Research and Development
If you’re reading this, then you already know that successfully submitting R&D claims to HMRC have substantial tax and cash benefits. This short article [...]
Time to Pay Arrangements
A common request we receive from those that are struggling to meet the ongoing tax liability is “can we arrange time to pay?”. In [...]
VAT Security
HMRC have the power to issue a ‘Notice of Requirement to Give Security’, which, effectively, is a letter stating that you are a VAT [...]
HMRC ‘Best Judgement’ Assessments
This has always angered CTM clients because it seems that HMRC can simply make up a figure, which is generally inflated, and little can be [...]
Personal Penalties
HMRC have the power to raise penalties for tax returns that are thought to be deliberate. They do not have to prove that the [...]
HMRC Raising Tax Assessments Out of Time
Many business are receiving VAT, or Corporation Tax, assessments for incorrect tax returns submitted years earlier. HMRC have 2 years to raise an assessment [...]
HMRC Debt Recovery
Probably the No.1 question we receive relates to HMRC’s tax debt collection mechanism. Whether it’s VAT, Corporation Tax or personal tax, HMRC will pursue [...]