HMRC has launched a campaign of one-to-many letters given its increasing concern surrounding the electronic suppression of sales (ESS). The campaign targets businesses that might have unpaid taxes due to misuse of their till systems.…
Small businesses top tax gap defaulters
The tax gap increased in 2022/2023, to a record £39.8 billion, with small businesses being blamed for around 60% of uncollected taxes. The tax gap is the difference between the amount of tax that should,…
Class 4 NIC reductions benefit the self-employed
Self-employed workers will see a substantial reduction in their Class 4 national in announced in the 202surance contributions (NICs) for the current tax year after two percentage cuts were 3 Autumn Statement and 2024 March…
HMRC and Provisional Liquidations via S.234 Insolvency Act 1986
We are seeing a marked increase in HMRC’s use of provisional liquidations particularly where umbrella companies are concerned. Some readers may have an opinion on umbrella companies and may argue that HMRC are on the…
From victory to Budget? Labour’s first 100 days
With a majority of over 200 and a weight of expectations, what happens next for Sir Kier Starmer’s new Labour government? The importance of the first 100 days of a new government cannot be understated.…
HMRC warning on a new wave of scam messages
HMRC is warning iPhone users about a new wave of scam text messages claiming to be about tax refunds. Unlike most spam texts, these reportedly cannot be blocked by iPhones or reported to the usual…
Welcoming Simon Newsham to the Nexa Law Tax Team
As some of you will recall, a few months ago, following an increase in the number of insolvency-related inquiries, I reached out to my LinkedIn contacts for help in finding professionals to join my team…
New carer’s leave in effect
Employers need to be aware that since 6 April 2024, employees are entitled to take a week’s unpaid leave each year if they need to fulfil caring responsibilities for a dependant. An important consideration is…
Child benefit charge changes confirmed
Taxpayers will benefit from the changes made to the high income child benefit charge thanks to all tax measures from the March 2024 Budget being enacted before parliament was prorogued. Changes to benefit charge For…