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Monday 16th October

Author Name: 
Siobhan

Important information about phishing scams

Author Name: 
Siobhan

Summer 2017 Newsletter

Author Name: 
Siobhan

Bogus Boss Scam Advice

Bogus Boss

Your Wine Questions Answered for ActionAid

Our friend and client Jerry Lockspeiser has just published his book “YOUR WINE QUESTIONS ANSWERED: The 25 things Wine drinkers most want to know” and is giving 100% of his revenue to ActionAid to build primary schools in Sierra Leone.

The book does what it says - it answers the questions wine drinkers want answered but are often too embarrassed to ask. It’s written in down to earth language and is a great easy read for anyone who wants to feel more confident about wine. Filled with interesting and fun facts it is also a worthwhile read for people who feel they have an above average level of wine knowledge. The short, illustrated chapters make this the perfect Christmas gift, helping a great cause at the same time.

The book is available for £8.99 in print or £5.99 in Ebook from Amazon , in print from Waterstones and from Daunt Books in London. You can download a free chapter and get more info at www.yourwinequestions.com.

Strongly recommended!

Best wishes,

Barcant Beardon

Author Name: 
Barcant Beardon

A Salutary Lesson

A recent case, Terence Raine v HMRC [2016] UKFTT 0448 (TC), illustrates the dangers for an individual taxpayer trading through a limited company of neglecting corporate responsibilities.

Agents set up a company for the taxpayer. Over a number of years the company voted and paid dividends to the taxpayer and his long term partner on the basis they were equal shareholders (which he maintained had always been the intention).

However, the statutory registers including the register of members were never completed, and the taxpayer signed the company’s annual returns and accounts showing himself as the sole shareholder.

HMRC investigated the discrepancy between the dividends declared on the taxpayer’s tax returns, and the shareholdings declared at Companies House in the annual returns. Despite amended annual returns being filed to show that shares were held equally by the taxpayer and his long term partner, the damage had been done

The tax tribunal held that the long term partner was not a shareholder. As dividends can only be paid to shareholders, the dividend income she had received was assessable on the taxpayer.

The case is a salutary reminder for those setting up and running companies to obtain competent corporate law advice and ensure that there is no mismatch between dividends/ tax returns, and the company’s corporate records and filings.

Author Name: 
Mukesh Khatri

HMRC phising scam

In the past week a new phishing scam has been identified in the form of an email claiming to be from HMRC using the subject of "Complaints". As with most of these scams the attachment contains malware, and should not be opened.

Author Name: 
Annie

Xero have 100,000 users!

Wow! Today it has been announced that there are now 100,000 users of Xero accounting software in the UK! Barcant Beardon are Xero Gold Partners and we are all passionate about the benefits of Xero. We now have over a hundred satisfied Xero using clients. If you are interested in joining their number, please do contact our Xero accredited consultant, Praful Gosai, who will be able to explain some of the benefits of the software.

Author Name: 
Annie Seymour

HMRC Computer Glitch

Another day and another HMRC computer integration glitch. A client of ours has received an enquiry into his Tax Return for the year ended 5 April 2014 stating that he was in receipt of child benefit from 7 January 2013 and this information was not disclosed on his Tax Return. This is certainly news to him, as his son was born on 6 March 2015! Therefore, there was no high income child benefit charge to report in the Tax Return for 2013/14. An appeal has been lodged against the assessment and we await HMRC’s response.

Author Name: 
Mukesh

HMRC Error

We have recently received a penalty notice for the late submission of a Tax Return for the year ended 5 April 2015. These Returns are not due until 31 January 2016, however HMRC’s system has the occasional glitch, and if you are in receipt of a late submission of Tax Return for the year ended 5 April 2015, please do forward to us and we will deal with appropriately.

Author Name: 
Mukesh Khatri
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