NEWS   Read the latest from h&h Accountants.

October 2011

• H & H Accountants Ltd
  Terry Hort is now expanding the successful business of H & H Accountants Ltd to incorporate the new office at 8 Ditton Street, Ilminster...   Read More

• CHANCELLOR’S AUTUMN STATEMENT
  The Chancellor, George Osborne, confirms the Office for Budget Responsibility (OBR) will make its Economic and fiscal outlook shortly....     Read More

• IRS CLARIFIES US NON-DOM TAX STATUS
  The Internal Revenue Service (IRS) has issued a Revenue Ruling (Revenue Ruling 2011/19)confirming that US taxpayers can claim credit for the remittance basis charge...    Read More

• CASE REPORT: TRAVELLING EXPENSES NOT 'RELEVANT MOTORING EXPENDITURE'
  The Upper Tribunal decided that motor travelling expenses paid by a taxpayer to its staff were not 'relevant motoring expenditure' but were emoluments of their employment liable for National Insurance contributions (NICs) so that the taxpayer was not entitled to a refund of contributions purportedly overpaid....     Read More

• PARENTS MUST REPORT 16 YEAR OLDS THAT ARE STAYING ON IN EDUCATION
  HMRC are reminding parents with a teenager approaching 16 that they should let HMRC know if they are continuing in full-time education so they continue to receive child benefit....    Read More

• HMRC update on Business Records £3,000 penalties for bad records Check trial
  HMRC have confirmed that a Business Records Checks (BRCs) trial has started. Following receipt of comments from some members that these real time checks had started, immediately after the end of the consultation and before the responses had been fully analysed, the CIOT secured a meeting with HMRC to seek clarification....     Read More

• CAPITAL ALLOWANCES LOOPHOLE ENDED
  The Government has bought forward the closure of a loophole which allowed businesses to accelerate capital allowances claims for plant and machinery and obtain advantageous early tax relief...     Read More

• STATUTORY RESIDENCE TEST
  A person's residence status can have a significant bearing on their liability to UK taxation, especially if they have overseas income...     Read More

• HMRC GUIDELINES TO RENT A CHAIR FOR HAIREDRESSERS
  To establish a business relationship other than that of employer and employee with the intent by the parties concerned to control their own actions and destiny through observance of the following basic principles...     Read More

September 2011

• LUNN LOSES AGENT STATUS FOR SECOND TIME
  Controversial accountancy Christopher Lunn & Co (CLAC) will no longer be treated as a tax agent, as the Commissioners for Revenue & Customs have again chosen to withdraw the firm’s status...   Read More

• ORDINARY RESIDENCE 'THREAT' IN NEW RULES
  The government’s plans for clearly establishing residence status could seriously hinder a ‘small but significant’ number of taxpayers, a leading tax expert has warned....     Read More

• SMES PUSHED BY HMRC TO BE MORE DIGITAL
  HMRC have published two consultation documents that cover the potential mandating of small and medium sized enterprises’ (SMEs) digital dealings with the tax authorities...     Read More

• TAX CASE: EXPENSE CLAIMS MIX
  The taxpayer, Hellesdon Leather and Cloth Company, claimed input tax in relation to the purchase of a motor vehicle, entertainment expenditure, clothing expenditure, and meals/trips expenditure. He claimed the vehicle was used solely for the purpose of business...    Read More

August 2011

• ATTACK ON HIGH-RISK AVOIDANCE SCHEMES
  Details of the most aggressive and artificial tax avoidance schemes are to be listed by HMRC, as the department continues its attempts to recoup additional revenue for the public purse...   Read More

• TAX CASE: FERRARI WAS NOT A BENEFIT
  The taxpayer, Michael Golding, was a director of Huntington Antiques Ltd. During an enquiry into the tax affairs of that company, HMRC became aware that that company owned two cars...     Read More

• VAT CHEATS ARE TAXMAN'S NEWEST PREY
  HMRC has unveiled yet another initiative designed to close the tax gap. It will focus on individuals and businesses that are not registered for VAT in spite of trading above the tax's £73,000-per-annum threshold...    Read More

July 2011

• BOSSES OFFERED EBT SETTLEMENT OPPORTUNITY
  HMRC are offering firms that have used employee benefit trusts (EBTs) and similar arrangements the opportunity to resolve outstanding enquiries without recourse to litigation...     Read More

• HMRC Accused Of Heavy-Handing SMEs
  HMRC has been accused of heavy handing SMEs during a pilot scheme to clamp down on poor financial record keeping...     Read More

• REFUNDS ON HOLIDAY HOMES EXTENDED TO NATIONAL INSURANCE
  Following publication of The Social Security (Contributions) (Amendment No 3) Regulations 2011 (SI 2011/797) that align the National Insurance position with that for income tax, taxpayers can claim a refund...   Read More

• High Earners Could Flee UK Because Of Top Tax Rate
  High earners may flee the country due to the UK's high tax rate, according to research published by UHY International...   Read More

• PAYE TOLERANCE REDUCED FROM 2010-11
  A tolerance has been used since the introduction of PAYE to accommodate the rounding up and down that automatically happens when the tax tables are used to calculate weekly/monthly tax deductions. For the past two decades, this tolerance has been 50...   Read More

• UK- Battle Lines Drawn On Unpaid Tax
  Experts are warning that the UK tax authority is more inclined to prosecute evaders as figures show millions of pounds of unpaid tax has been recouped...   Read More

June 2011

• Deadlines for sending in your tax return
  If you send a paper tax return it must reach HMRC by midnight on 31 October. You only have longer than this if...   Read More

• TAX TASK FORCE TARGETS CAPITAL'S EATERIES
   - Londons restaurants will be the initial targets of HMRCs latest strategy in the departments intensive battle against tax evasion    Read More

• TAX CASE: POOR ONLINE SERVICE
  The taxpayer, Louise Fernandez, tried to file her tax return online in January 2010 but found that she could not access the website. She contacted HMRCs support line but did not receive a reply...    Read More

• TAX CASE: AILMENTS OF THE ELDERLY
  An elderly disabled pensioner, Alan German, appealed against surcharges for late filing of self assessment returns. He also claimed he was unable to repay underpaid tax of more than £2,000 for the year 2007/08...   Read More

May 2011

• Building Contractor’s - Don’t lose your gross payment status!
   - Building Company given incorrect advice Read More

• Even more reason to insure against tax enquiries:
  - TAXMAN APOLOGY OVER RECORD CHECKS PILOT Read More

• TAX CASE: DOCTOR IS SELF-EMPLOYED:
   - This is one for my Consultant Doctor’s Read More

April 2011

• Capital Allowances - New Annual Investment Allowances Read More

• Self Employed versus Limited Company - Are you paying too much Tax? Read More

• TAX CASE: A FAMILY AFFAIR: In an appeal concerning three separate issues Read More

• PLUMBERS TARGETED BY NEW DISCLOSURE DRIVE Read More

• IR35 COULD SURVIVE, SUGGESTS OTS REPORT Read More

• TAX CASE: PERMIT TO CLAIM appeal against HMRC's refusal to allow his
  travel and subsistence expenses  Read More

• ACTORS' EQUITY CONTRACTS MEAN CLASS 1 CONTRIBUTIONS Read More

March 2011

BUDGET SPECIAL: 23 March 2011 Read More
The Chancellor of the Exchequer presented his Budget to Parliament this afternoon.

Please see below web-links regarding the budget reaction:-

The View from Government

HM Treasury

HM Revenue & Customs

The View from the Media

News From The Newspapers

Accountancy News Round-up

The View from the Big Four

The View from the Politicians

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OFFSHORE PENALTIES COULD REACH 200%  Read More

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HIGHER BAND TO PULL IN 750,000 MORE EARNERS  Read More

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TAX APPEAL: HOME IS PLACE OF BUSINESS  Read More

February 2011

SMEs FACE CHECKS ON ACCURACY OF RECORDS  Read More

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Small Firms Call For HIGHER VAT THRESHOLD  Read More

2011

h&h Accountants are proud to sponsor Dowlish & Donyatt
Football Club. Read More

2010

h&h Accountants launch Enquiry Protection Insurance scheme. Read More

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