News

It’s important to be up-to-date, HMRC is constantly evolving.

We continuously research and update our knowledge. As part of that, we share our insights and findings. Read our news articles; we hope you will find useful information.

If you have any questions or enquires, please don’t hesitate to get in touch.

Latest News

GDPR compliance deadline looms

GDPR compliance deadline looms

With less than one month until the introduction of the new General Data Protection Regulation (GDPR), the Federation of Small Businesses (FSB) is warning small and medium-sized enterprises (SMEs) that time is running out for them to prepare. The business group stated...

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Making Tax Digital (MTD)

Making Tax Digital (MTD)

Over the coming years, the government plans to phase in its landmark Making Tax Digital (MTD) initiative, which will see taxpayers move to a fully digital tax system. However HMRC has shared a statement about how they are prioritising change in the department and as a...

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Minimum Wage Increases

Minimum Wage Increases

The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees. Employers are liable to be penalised for not complying with the NMW and NLW rules. There are different levels of NMW and NLW, depending on...

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Year End Tax Planning

Year End Tax Planning

With the end of the tax year looming there is still time to save tax for 2017/18. We have set out some points you may want to consider. Make full use of your ISA allowance - ISAs can offer a useful tax free way to save, whether this is for your children's future, a...

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Gross Misconduct

Gross Misconduct

Gross misconduct in the workplace is categorised as behaviour which breaks the rules laid down in the employment contract, entitling you to dismiss employees without notice or pay in lieu of notice. However, when an incident of gross misconduct is suspected, you must...

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Xitax Accounting Solutions

Preparation of sole traders, limited companies, partnership accounts, personal tax, corporation tax, management accounts and VAT returns.
Xitax Accounting Solutions
Xitax Accounting Solutions2 days ago
From 1 October 2018, approximately 127 countries will be exchanging information with the UK. It is expected that this information will feed into HMRC’s powerful computer system ‘Connect’ to be compared with entries on tax returns.

If you have undisclosed offshore income and gains, you should declare it by 30 September 2018.
Xitax Accounting Solutions
Xitax Accounting Solutions1 week ago
R&D Tax Credit

We submitted a claim for our software developer client giving them R&D cash tax credit from HMRC.

R&D tax reliefs are available to UK companies undertaking R&D that results in an advance in the field of science or technology.

Contact us to find out more.
Xitax Accounting Solutions
Xitax Accounting Solutions1 week ago
From 1 March 2019 the time limit to file a Stamp Duty Land Tax return and pay any tax due has been shortened from 30 days to 14 days. Contact us for further information.
Xitax Accounting Solutions
Xitax Accounting Solutions1 week ago
HMRC saves public £2.4M by stopping fraudsters

HMRC has announced that it has saved the public over £2.4m by tackling fraudsters that trick them into using premium rate phone numbers for services that HMRC provide for free.

HMRC has reported that scammers create websites that look similar to HMRC’s official site and then direct the public to call numbers with extortionate costs in comparison to the low cost and no cost services that HMRC provides.

These websites promote premium rate phone numbers as a means of phoning HMRC but these are call forwarding services which connect the unsuspecting to HMRC at a premium rate.

HMRC’s has confirmed that its genuine 0300 numbers are mainly free or charged at the local landline rate. In other cases, websites charge for forwarding information to HMRC which can be provided free of charge via GOV.UK website.

HMRC has successfully challenged the ownership of these websites, masquerading as official websites, and removed them from the hands of cheats. Analysis carried out shows that had HMRC not taken this action then the public would have lost £2.4m to these scams.
Xitax Accounting Solutions
Xitax Accounting Solutions2 weeks ago
VAT reverse charge for construction services consultation

HMRC proposes to introduce new VAT rules for construction services which are subject to consultation.

HMRC has published a draft statutory instrument for technical consultation together with a draft explanatory memorandum and a draft tax information and impact note.

Under the draft legislation supplies of standard or reduced-rated construction services between construction or building businesses will be subject to a domestic reverse charge. This means that the customer will be liable to account for VAT due, instead of the supplier.

The legislation will not apply to specified supplies made to customers who are consumers, or to those that use specified supplies to make other supplies, such as those selling new houses.

The legislation is expected to take effect from 1 October 2019.
Xitax Accounting Solutions
Xitax Accounting Solutions2 weeks ago
If you need an accountant and tax adviser, come and meet us at our office: Pera Business Park, Melton Mowbray. coffee on us!

Sheena Kaur

XiTAX Accounting Solutions LimitedFeel free to get in touch

Email: info@xitax.co.uk
Phone: +44 (0)75 2583 1590

Address: Xitax Accounting Solutions, Pera Business Park, Nottingham Road, Melton Mowbray, Leicestershire LE13 0PB

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Association of Chartered Certified AccountantsAssociation of Accounting TechniciansXero Bronze Partner

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