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How we can stay safe from bank fraud

While the internet and social media facilitate communication today, we need to be aware of the risks too. Not everybody uses digital platforms for the right purpose. All the information we publish online nowadays increases the risk of facilitating bank fraud. UK bank customers lost half a billion pounds to scammers during the first half […]

Avoid complications: fill in your tax returns in time

How many companies, sole traders and self-employed people prioritise on their tax returns? As December is knocking at our doors, we have just over two months left to fill in the forms for 2017-2018. Many choose to wait until after Christmas to finalise their tax returns. As HMRC reports for the previous year show, nearly […]

HMRC offers online tools to help employers

Employers can access regular HMRC guidance in regards to employees payments and payroll issues. Released last month, the Employer Bulletin clarifies a number of aspects, from apprenticeship rates to useful tools. As we recently talked, in the digital era keeping informed and updated proves vital. Even more so, if you run a company hiring people, […]

How does digital banking affect us?

With HMRC and banks announcing big changes towards digital systems, the financial sector follows tech development. Britain’s biggest High Street lender, Lloyds Bank, plans to close one main centre and cut 6,240 jobs. However, they also announce creating 8,240 new positions. While Unite union reports on Lloyds staff morale plunging under the pressure, the bank […]

HMRC warns about fraud calls asking for payments

Recently, a number of people received scamming phone calls from what appears to be a genuine HMRC number. The Government department warns members of the public about the scam. They assure potential victims HMRC will never call without warning to ask for money. Mainstream media, such as Sky News, reported last week on the recent […]

New UK Budget: investment, tax cuts and uncertainty over Brexit

Announcing the last pre-Brexit UK Budget, Philip Hammond said “austerity is coming to an end”. He revealed, as expected, more help for small businesses, social care, roads and motorways. Criticised for his “end of austerity” declaration, which many consider unrealistic, Hammond held a 71 minutes budget speech yesterday. Among the financial decisions mentioned, one will […]

Record number of employers fined for not paying minimum wage

HMRC recently announced a record in penalties against companies who failed to pay minimum wage over the last year. With £15.6 million of underpayments, the Government fined employers £14 million in total.  The numbers recently presented by HMRC might look shocking. When we compare them, we notice employers who underpaid their staff members did not […]

How can SMEs prepare for a difficult Brexit?

With Brexit high in the news again, concerns rise for small and medium enterprises (SMEs). Predictions vary from possible positive outcomes to complete doom. And the current uncertainty, with waves of declarations from politicians, doesn’t clarify economy matters. But what do we know at the moment? And what are the major, imminent risks for UK […]

Have you declared your abroad property or business?

By September 30th 2018, landlords needed to declare any income earned from properties abroad. Mid-summer this year HMRC warned any such earnings from abroad, be it from renting or business, should be declared by the named date. Will you or your business be affected? And what else changed recently? Under the Common Reporting Standard (CRS), […]

Teenagers risk missing out on savings pots

Online accounting, is the application of online and Internet technologies to the business accounting function. E-accounting is “electronic enablement” of lawful accounting and traceable accounting processes.