Wilder Coe LTD - October 2016

WILDER COE LIMITED IS PROUD TO ANNOUNCE PAULINE HUDD, HEAD OF STAMP TAXES AS OUR NEWEST PARTNER

Pauline Hudd – an experienced stamp taxes specialist –joined Wilder Coe LTD in March 2016, and we are delighted to announce her new position as a partner in the firm. Pauline has extensive experience in all types of transactions, gained through her years in practice at KPMG, and previously in her role as Assistant Controller at HMRC Stamp Office …

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Revenue reviews card payments in cash-in-hand crackdown

HM Revenue & Customs (HMRC) has confirmed that, as part of a crackdown on cash-in-hand payments, it is monitoring the proportion of card payments processed by small businesses, including restaurants and retailers. According to the Revenue, on average, approximately 30 per cent of sales made by small businesses are paid in cash. However, it says …

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Rapid increase in number of HMRC raids

Research has found a 28 per cent increase in premises raids by HM Revenue & Customs (HMRC) over the last year and a 53 per cent increase over the last five years. Last year, HMRC carried out 761 property searches, compared with 593 the previous year and 499 five years ago. The increase comes against a background of heightened pressure from both …

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FSB sounds alarm on National Living Wage

The Federation of Small Businesses (FSB) has issued a warning about the impact of the introduction of the new National Living Wage (NLW) on the ability of some SMEs to turn a profit. Research, published by the FSB in September, found that the introduction of the NLW of £7.20 per hour in April 2016 had increased wage costs for 32 per cent of small businessesRead more…

HMRC warning on Entrepreneurs’ Relief tax avoidance scheme

New guidance has been issued by HM Revenue & Customs (HMRC) about a recently discovered capital gains tax (CGT) avoidance scheme, as the Revenue continues to try and prevent taxpayers from exploiting loopholes in the tax regime. HMRC has identified a scheme that attempts to exploit Entrepreneurs’ Relief by turning income into a capital gain, effectively …

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More than a third of companies unaware of apprenticeship levy

New research from the British Chambers of Commerce (BCC) has revealed that more than one in three businesses have not heard of the apprenticeship levy. The BCC is calling on the government to communicate better with businesses about the apprenticeship funding reforms, which will affect businesses with a pay bill that exceeds £3 million a year. Announced …

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New Worldwide Disclosure Facility launched by HM Revenue & Customs

HM Revenue & Customs (HMRC) has announced the creation of a new Worldwide Disclosure Facility (WDF) that will allow people to ensure their affairs are correct before the Common Reporting Standard (CRS) comes into force on in October 2018. The WDF is available to all UK and non-UK resident businesses, organisations and individuals that have a previously …

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