New Year Tax News
After the Festive Break and the beginning of a new calendar year we thought it would be good to do a round-up of current tax issues and news:
1.HMRC.GOV.UK has switched to GOV.UK
Or to be precise HMRC.GOV.Uk now redirects to:
Latest documents section replaces the previous “What’s New” Section:
2.New VAT Rules re Digital Services
New VAT rules have come into force for businesses supplying digital services to consumers based in other EU countries. From 1st January 2015 VAT will be payable in the country the consumer is based and at the rate applicable in that country. So that you don’t need to register for VAT in every EU country you supply HMRC offer the option of registering and using the VAT Mini One Stop Shop (MOSS) online service.
3.HMRC to Target Horse Box Owners
HMRC believe that some businesses are putting their owner’s horse boxes through as business assets and neglecting the personal use element. This may sound relatively insignificant in the grand scale of tax collections but with some horse boxers being worth in excess of £500,000 HMRC clearly aim to collect some large underpayments. It also highlights that HMRC are keen to shut down every loophole or abuse they can.
4.Reasons for Late Filing
As the deadline for Tax Returns is fast approaching HMRC published 10 of the oddest reasons they’ve been giving for late filing:
Umbrella provide tax advice to Contractors and Freelancers working in the UK.
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