Harnett Accontants

Tag: HMRC

  • Harntt Accountants Kingston – Tax Efficient Company Cars

    Accountancy

    Harntt Accountants Kingston – Tax Efficient Company Cars

    have another great video tip to help reduce your taxes. Did you know that going green could help to save more than just the environment.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    If you need advice about company cars, or anything tax related for you or your business, please contact us and we will arrange a free one hour no obligation consultation. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • – Hmrc’s Tax Taskforces Revealed

    Accountancy

    – Hmrc’s Tax Taskforces Revealed

    brings you this insight from Accountancy Age into the new tax taskforces introduced by HMRC to clamp down on tax evasion:

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    IN RECENT MONTHS, the taxman has been doing its level best to be seen to be tackling those dodging their tax share.

    Part of HMRC’s myriad tools to achieve that has been its taskforces, which it says operate in “short, sharp bursts of activity” in targeted areas of the country and perceived high-risk industries.

    Since they were introduced in May, the taskforces have investigated stall-holders in London, taxi operators in Yorkshire and the east Midlands, restaurants across the Midlands and property rental businesses in East Anglia, the north east, Yorkshire and London, among others.

    The aim is to induce traders in the target industries and areas to voluntarily come forward and settle any outstanding tax liabilities they might have by generating publicity in the local area. Compliance checks are carried out, as well as announced and unannounced visits.

    There is an element of carrot and stick involved, too; generally, if someone comes forward, fully discloses and pays up, the matter is closed, whereas invasive investigations and potential criminal proceedings await those who continue to dodge their bills.

    At the time of writing, £50m is the target figure for the taskforces to bring in, with HMRC so far satisfied with the progress the initiative has made. Indeed, £20m is expected from the property sector alone.

    What This Means For You

    The Revenue says it will measure success through cash collected and “the number of sanctions imposed, from penalties and fines through to the number of prosecutions brought”. It is also hoped that the taskforces will be able to “change the behaviour of individual evaders who will in the future voluntarily meet their tax obligations as a result … and change the behaviour of people who might consider evading tax”.

    The budget for the taskforces is part of £900m the Treasury set aside for the taxman to tackle avoidance and evasion. How much of that went towards the taskforces, however, is not public knowledge.

    “It’s the sixty-four thousand dollar question for me and for ARC”, says Gareth Hills, president of the Association of Revenue & Customs (ARC), which represents professionals and senior management at HMRC.

    “We’ve never been able to tie down where that money’s gone in terms of where it’s been invested in the department.”

    With that money earmarked specifically to tackle evasion and avoidance, the Revenue has been keen to yield results against a background of cuts and criticism from the Public Accounts Committee after the National Audit Office found it wrote off £5.2bn in taxes last year.

    There were some 100,000 HMRC employees in 2004, deployed across the country. Today, the number is closer to 60,000 with another 15% of cuts – based mainly in London – to come in the next four years. And they now work according to sector instead of region.

    Important Points

    The move to sector-based specialisation is perfectly understandable, provided it is combined with local knowledge.

    “When investigators were investigating local businesses, they would have local knowledge,” says Phil Berwick, director at Pinsent Masons. “If you are looking at take-aways, for example, showing a different spread of results, then you might know there is one next to a cinema with more passing trade than one further down the high street. There are dangers [in a sector-based] approach if it’s not combined with local knowledge.”

    Gareth Hills does not recognise that problem, however, and is keen to stress the Revenue still has a “has a network of local offices across the UK”.

    “People shouldn’t think that because they do not fall within the businesses or locations targeted by the task forces that they will not be selected for enquiry. That’s not the case,” he says. “The taskforces target specific traders and businesses in specific areas where there’s an identified high risk of tax leakage. The nature of the traders and businesses subject to this approach are based on local knowledge in those locations to determine the riskiest areas.”

    With many of the investigations ongoing, and new ones potentially to come, it remains to be seen how successful the taskforces will be, especially given that cost-effectiveness cannot yet be measured. The real test will come when the financial year ends and vital figures become available.

    Source: Original Article

    Further Details

    If you need help or advice about tax and working out exactly how much you should be paying, please contact us and we will arrange a free one hour no obligation consultation. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with property tax advice?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Kensington – Ir35 And Visits From The Taxman

    Accountancy

    Harnett Accountants Kensington – Ir35 And Visits From The Taxman

    Harnett Accountants Kensington are pleased to present more useful tax tips for your business

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    IR35 Business Tests Released

    If you provide services through your own personal service company you will be aware of the tax law known as IR35. This tax rule imposes an extra charge on your company, if you would be treated as an employee of your customer or customers, if you worked for the customer directly. It is very difficult to pin down when IR35 should apply, as it depends on the relationship between the contractor and the customer, which will be different in every case.

    The Taxman thinks he can generalise about what makes some companies fall within IR35 and others escape it. He has drawn-up a set of business entity tests, complete with a scoring system, to help you judge whether your business would be at high, medium, or low risk of being investigated for falling under IR35.

    These business entity tests are not derived from the tax law. They merely represent the Taxman’s view of the risk of a business falling within IR35.

    The scoring attached to the tests is controversial, as it penalises businesses that have no bad debts, never pay to advertise and operate from the owner’s home. These IR35 business entity tests do not change the IR35 law one bit, and will probably be ignored by the Tax Tribunal.

    If you choose to use the IR35 business entity tests, you don’t have to declare your score to the Taxman, the tests are merely for your own guidance. However, if you are concerned that the business entity tests produce a high risk score for your business, we should discuss why this is the case. Are there any changes which can be made to the way your business operates which would make it less likely to be caught by IR35?

    What This Means For You

    We can advise you on the correct tests for IR35, which would be recognised by the Tax Tribunal, so do ask if you would like some reassurance.

    The Taxman has wide powers to inspect your business, but he is supposed to give you at least seven days notice to check on your business property, computer or business records. He is permitted to turn up without warning, but only if tax is immediately at risk, such as where fraud is suspected.

    In spite of these strict rules, tax inspectors do try to examine business records without a prior appointment, or where an appointment has been arranged, the officers may turn up hours early before the tax adviser has arrived. If the Taxman pitches up at your workplace and demands access to your business records, know your rights:

    – Ask to see the inspectors’ ID, which they must carry and check this ID is genuine by telephoning the HMRC office they claim to be from – You don’t have to let the tax officers into your building, and their rules say they must not gain entry by force – You and your staff are not obliged to answer the tax officers’ questions – You are required to provide access at any reasonable time to any computer you use for your business, and help the tax officer extract the computer records, but that’s where your responsibility ends – The tax officers are not supposed to rummage around in your stuff. They can examine materials and records brought to them but they do not have search powers.

    Remember if tax officers turn up unannounced, call us without delay!

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with property tax advice?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Putney – Government Plans To Unite Sme Incentives

    Accountancy

    Harnett Accountants Putney – Government Plans To Unite Sme Incentives

    Harnett Accountants Putney brings you this report from the Accountancy Age website, revealing new government plans to provide help for SME’s and startups under one centrally managed scheme.

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    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “HELP FOR SMEs should be more easily accessible and under the umbrella of one organisation according to ICAEW chief executive Michael Izza.

    As things stand, applying for funding for activities such as employing young people, starting your own business, cheap loans and export support must be done through various different bodies.

    But a state-sponsored small business bank announced by George Osborne last week provides an opportunity to unite those services under one roof.”

    In July, Harnett Accountants Putney reported on a survey revealing that a third of UK SME’s were missing out on tax breaks available to them. More worryingly, at the time of that report, only 1 in 3 UK SME’s were completely aware of all the tax breaks available to them. However, it is hoped that this new decision to unite all of the various incentives and finance schemes under one roof will raise the level of awareness and use of available tax breaks and further help the ailing UK economy.

    If you need advice about tax breaks and incentive schemes, or if you’re unsure about exactly which schemes your company could be elligable for, please contact us through our website or on 020 8977 3883, and we will arrange a free, one hour no obligation consultation. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with business start-up advice?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Putney – Taxman Admits Fault In Half Of All Cases

    Accountancy

    Harnett Accountants Putney – Taxman Admits Fault In Half Of All Cases

    Harnett Accountants Putney Bring you this report from the Accountancy Age website, revealing that nearly 3 out of 5 compaints made to the taxman result in the taxman admitting fault.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “NEARLY THREE OUT OF FIVE complaints made to the taxman in resulted in the taxman admitting fault, according to research conducted by law firm Pinsent Masons.

    More than 58,000 complaints were received by HM Revenue & Customs in 2010/11, with the department itself upholding the grievances at least partially in over 33,000 cases, equating to 57% of total objections.

    Among the most common causes for complaint for individuals and small businesses are unreasonable delays, mistakes, and poor treatment by HMRC staff.”

    The bottom line is that you can complain to the taxman directly if you feel that you’ve been unfairly treated or incurred unreasonable financial costs. If you need advice about making a complaint to HMRC, or help working out exactly how much tax you should be paying, contact Harnett Accountants Putney, and we will arrange a free, one hour, no obligation consultation. You can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • – Minister Says Cash In Hand Is Morally Wrong

    Accountancy

    – Minister Says Cash In Hand Is Morally Wrong

    brings you this report from the BBC Business News website:

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “Treasury minister David Gauke has said it is “morally wrong” to pay tradesmen such as plumbers, builders and cleaners in cash in the hope of avoiding tax.

    He argued the practice came at “a big cost” to the Treasury and meant other people had to pay more.

    But Treasury sources stressed Mr Gauke was answering a specific question rather than proposing a policy change.

    Labour said the government should be focusing on “clamping down” on “large-scale tax avoidance”.

    Asked if he ever had paid cash to tradesmen to reduce his costs, London Mayor Boris Johnson said: “I’ve certainly paid a lot of cash in hand.”

    In response to the same question, Local Government secretary Eric Pickles said: “Certainly not.”

    What This Means For You

    And Culture Secretary Jeremy Hunt said: “David Gauke was saying that tax-dodging is wrong and personally I haven’t dodged tax.”

    The government is estimated to lose about £2bn each year to the black economy as tradesmen fail to pay VAT or income tax by not declaring payments and keeping them “off the books.”

    If you need advice about how to reduce your tax bills, or how to run your business in the most tax efficient way possible, please contact Harnett Accountants Kingston, and we will arrange a free, one hour, no obligation consultation. You can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with VAT returns and compliance?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Chiswick – Business Bank Will Need £40bn

    Accountancy

    Harnett Accountants Chiswick – Business Bank Will Need £40bn

    Harnett Accountants Chiswick brings you this report from the BBC Business News website, claiming that the government’s business bank idea could take up to £40bn to work.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “The government-backed “business bank” planned by Business Secretary Vince Cable will need £40bn to successfully boost lending to UK firms, says the think tank IPPR.

    It says the bank must also be able to tap bond markets for up to £100bn.

    The IPPR also suggests the government allow the bank to invest in infrastructure projects such as road building to help reflate the economy.”

    If you need advice about raising finance for business investments or business startups, please contact Harnett Accountants Chiswick and we will arrange a free, one hour, no obligation consultation. You can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with business start-up advice?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • – Taxman Must Steer Clear Of Advisory Board

    Accountancy

    – Taxman Must Steer Clear Of Advisory Board

    brings you this report from the Accountancy Age website, warning that the taxman must not be allowed on the advisory panel which will look at tax schemes.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “THE TAXMAN MUST STAY CLEAR of an advisory panel proposed to determine whether tax schemes are abusive, according to the CIoT and ATT.

    In response to the consultation on introducing a general anti-abuse rule (GAAR), the tax bodies warned that the proposals risk handing too much power to HM Revenue & Customs.

    A panel for looking into the true purpose of tax schemes – and determining whether they are contrived to avoid tax – should have no HMRC representatives.”

    If you need advice about reducing your tax bills, or running your business in the most tax efficient way, please contact and we will arrange a free, one hour, no obligation consultation. You can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • – Anti Avoidance Bill Brought Foward

    Accountancy

    – Anti Avoidance Bill Brought Foward

    bring you this report from the Accountancy Age website, detailing a new proposal for an anti avoidance bill to be brought before the house of commons.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “A GENERAL ANTI-AVOIDANCE BILL is to be tabled tomorrow at the House of Commons by Labour MP Michael Meacher.

    Should the bill be passed, it will be the first time an anti-tax avoidance principle has been enshrined in UK law.

    Unlike the general anti-abuse rule (GAAR) – the consultation for which closes tomorrow (14 September) – the bill addresses national insurance and VAT. It also looks to address shifting income from one tax to another in order to reduce a tax liability and any arrangement resulting in tax paid late.”

    If the bill is passed successfully, it will supersede the current situation brought about through years of case law, which finds that schemes to avoid paying taxes aren’t actually illegal. However, critics say that the newly proposed rules will be so weak and ineffective that they will have no measurable economic impact at all.

    If you need advice about how to reduce your tax bills, or how to make sure that you are paying the correct amount of tax, please contact Harnett Accountants Wimbledon, and we will arrange a free, one hour, no obligation consultation. You can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with VAT returns and compliance?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.

  • Harnett Accountants Chiswick – Tax Crackdown On Track

    Accountancy

    Harnett Accountants Chiswick – Tax Crackdown On Track

    Harnett Accountants Chiswick brings you this article from the BBC Business News website, reporting that the government is on track for its target to raise £4bn in the crackdown on tax avoidance.

    💡
    Reviewed for 2026/27: All tax figures and HMRC rules in this article reflect current guidance for the 2026/27 tax year.

    Key Considerations

    “The government is “on track” to raise £4bn this year via schemes to crack down on tax dodgers, Chief Secretary to the Treasury Danny Alexander will say.

    The Lib Dems have pledged to raise £9bn by tackling tax avoidance by 2015.

    Mr Alexander will promise to get more from the “small minority of wealthy people who don’t play by the rules”.

    The number of staff dealing with tax-evasion in Liechtenstein will be doubled as part of a crackdown on those “hiding” assets in offshore havens.”

    The government has offered a deal to those coming forward voluntarily over unpaid taxes that extra penalties will not be higher than 10% of the tax due. This is part of a wider crackdown on the 5000 or so UK investors thought to have secret accounts in offshore tax havens.

    If you need advice about taxes, or help to make sure that you are paying exactly the right amount of tax, and running your business in the most tax efficient way possible, please contact Harnett Accountants Chiswick and we will arrange a free, one hour, no obligation consultation. You can contact us through our website or on 020 8977 3883. Also you can . Additionally, you can keep reading our daily blogs.

    📌 Important: Tax rules change regularly. Always verify current figures at gov.uk/hmrc or speak to a qualified accountant.
    📞
    Need help with accounting and tax?
    Harnett and Co are ICAEW chartered accountants in Kingston upon Thames, Surrey. We give clear, practical advice to businesses and individuals across West London and Surrey. Book a free consultation today.