HMRC raises £16 for every £1 it spends on staff carrying out investigations into the tax affairs of individuals and small businesses, according to law firm Pinsent Masons. Figures show that HMRC collected £4.9bn in extra tax from investigations into individuals and small businesses in 2018-2019 but only had to spend £309m on staff to…Read More
In any business, cash flow is king. Yet in many businesses, cash flow is the area that many businesses struggle with. Even if a customer has had goods or services from you, they are reluctant to part with their money and therefore it can take them some time to pay their invoices. Huge companies may…Read More
When is a Van not a Van? HMRC are being urged to provide clarity and consistency on the tax treatment of commercial vehicles such as VW Kombi Vans marketed as goods vehicles. The need for clarity follows the ruling in an important tax tribunal case involving “vans” provided to employees of Coca Cola. The court…Read More
Did you know you can treat yourself and your employees tax free? ❓ Are you a Director of a close company? ❓Do you like to reward your employees to celebrate birthdays or other special occasions? Did you know you could do this tax free without you or your employees having to pay income tax or national…Read More
At CCL, we are preparing for Making Tax Digital. We’ve prepared a list of Frequently Asked Questions to give you a better understanding of it. What is “Making Tax Digital”? Making Tax Digital (MTD) is a government initiative to modernise HMRC’s tax system, with the aim of making the whole process of administrating tax simpler…Read More
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