Property118, Cotswold Barristers, and HMRC

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If you are or have been a client of Property118 or Cotswold Barristers, please seek urgent independent tax and legal advice. We’ve been watching with a growing sense of dread the saga unfolding over at Tax Policy Associates about these firms. Property118 and Cotswold Barristers operate together, offering a tax avoidance scheme for buy-to-let landlords.…

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HMRC letters to company directors on undeclared dividend income

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HMRC is contacting Company directors suspected of receiving dividends without declaring the income on their Self-Assessment Tax Returns Business owners have been receiving letters from HMRC as part of a recent campaign. These letters notify them about the potential requirement to declare dividend income. HMRC has been conducting investigations on company reserves, specifically targeting those…

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A Guide for Companies Receiving ICO Letters: Data Protection Obligations

ICO Letters Data Protection

ICO Compliance letters for companies In recent times, UK businesses have received significant communication from the Information Commissioner’s Office (ICO), spotlighting the critical importance of compliance with the General Data Protection Regulation (GDPR). As a cornerstone of data privacy and security, GDPR compliance is not just a legal necessity but a fundamental aspect of business…

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Digital Marketplaces Reporting Side Hustles to HMRC

A group of people sitting around a phone with the word hhc on it, engaged in digital marketplaces and discussing side hustles while reporting their progress.

Update affects most Digital Marketplaces We are committed to providing exceptional financial guidance and services, so we are bringing to your attention the latest developments in tax regulations that could impact those earning additional income through online platforms. As specialists in navigating the complexities of tax compliance, we aim to keep our clients and the…

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Christmas Closure

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🎄 Season’s Greetings from Mercian Accountants! Holiday Closure Announcement: As we embrace the festive spirit of the Christmas season, we would like to inform our valued clients and visitors that Mercian Accountants will be closed for the holidays from 5:30 PM Friday 22nd December to 8:00 AM Tuesday 2nd January. Our office will not be…

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New HMRC Letter Campaign: Landlords Incorporation Relief 2017/18

A computer screen displaying an application form for Landlords Incorporation Relief, as part of an HMRC letter campaign.

Understanding the New Compliance Drive in Property Taxation Introduction: A Focused HMRC Initiative on Property Tax Compliance HM Revenue & Customs (HMRC) has embarked on a crucial campaign, turning its attention to a specific sector of the property market: buy-to-let landlords. This campaign specifically addresses those who strategically incorporated their property businesses into limited companies…

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Christmas 2023 Arrangements and Deadlines

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May you be in good health and spirits, with your Christmas preparations progressing smoothly. We trust that the festive season is shaping up delightfully for you. Christmas Holidays and Busy Season Our final day of operation in 2023 will be Friday, 22nd December. We will resume our services in the new year on Tuesday, 2nd…

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Goodbye to Tax Clearance: A Shift in Responsibility for MVLs

Hm revenue & customs logo on a conference table, showcasing tax clearance responsibility.

HMRC Cease Providing Tax Clearance for Members’ Voluntary Liquidations Effective immediately, HMRC will no longer provide pre- and post-tax clearances for members’ voluntary liquidations (MVLs). This change, announced in HMRC’s Insolvency Guidance on December 6, 2023, shifts the responsibility for determining tax compliance to insolvency practitioners (IPs), who must rely on their professional judgment to…

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HMRC’s Scrooge-like Plan to Save Money: No More Letters About Your Refunds

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HMRC has axed the practice of sending out letters informing taxpayers of their self-assessment repayments, citing the practice as causing unnecessary confusion and increased customer queries. This change, effective from December 7, 2023, applies to all Bacs self-assessment repayments, affecting both tax advisers and individual taxpayers. Instead of traditional letters, HMRC will now resort to…

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HMRC’s New Campaign: A Closer Look at Crypto Tax Compliance

A stack of gold coins on a table next to a bitcoin chart, highlighting Crypto Tax Compliance.

Introduction The phenomenal growth of cryptocurrencies has brought with it a plethora of challenges, particularly in the realm of taxation. Her Majesty’s Revenue and Customs (HMRC), has recognised the need to address this issue proactively, implementing a series of initiatives to enhance tax compliance in the crypto realm. HMRC’s New Initiatives: A Path to Tax…

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