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Introduction to Beyond the Numbers
  • Is HMRC always right?

    Posted: 19 Jan January|Tax news,Top tips,

    The short answer is NO! This morning we spent half an hour on the 'phone to HMRC getting some incorrect HMRC tax calculations changed on tax returns we submitted in December for clients. We had filed the returns with the correct calculations and HMRC sent back their version of events, which in each case was incorrect. So, how can you be sure that HMRC gets it right? You need an expert eye to look things over for you, it's the only way to have peace of mind that you are paying only the right amount of tax. In the future there will be no tax returns and everyone will have a digital t Read more

  • This is a message from HMRC – or is it?

    Posted: 18 Jun June|Tax news,

    Yesterday one of our clients received a telephone call which was an automated message claiming to be from HMRC. The message stated that he had not returned forms, was being prosecuted for tax avoidance and even that there was a warrant out for his arrest. The message asked him to call another number which would have led him to a "make a payment" option. Luckily he was smart enough to get in touch with us to ask if this was a true call from HMRC and we were able to reassure him that he doesn't owe any tax or documents and that his affairs are all in perfect order. This is a scam mes Read more

  • Happy new tax year – or is it???

    Posted: 18 Apr April|Tax news,Top tips,

    So today is the first day of the new tax year - so what? As from today you may find that you have a bit more or a bit less in your hand after tax depending on how much you earn, how you are paid and even where you live! As from today the amount that anyone can earn without paying income tax has gone up to £11,850 per year. So far so good! If you are lucky enough (?) to be a higher rate taxpayer, the amount you can earn before moving into that 40% tax bracket goes up to £46,350 from today - provided you don't live in Scotland. That all sounds great doesn't it? Well, if you a Read more

  • Why do I have to pay tax on my dividends for the first time?

    Posted: 18 Jan January|Tax news,

    Do you take dividends from your limited company but always below the higher rate tax threshhold? If so, are you faced with a personal tax bill to pay by the 31st January for the first time ever? And to make things worse is your accountant telling you that you have to make payments on account for the following year? If this sounds like you, then you are not alone. Many people have been affected by the changes to the taxation of dividend income and it's only now that the tax bill is due that they are waking up to this fact. From the tax year 2016-17, the rules on how dividends wer Read more

  • 2017 Budget – does it affect you?

    Posted: 17 Nov November|Tax news,

      You may be wondering if all the chat about the budget actually has any impact on your own position from a tax point of view. We have summarised what we think may be of interest so why not have a read here: Beyond The Numbers Budget Newsletter Autumn 2017 Much of this budget related to England only so if you are tax resident in Scotland watch out for our update on the Scottish budget coming up in December. In the meantime if you'd like any more information on any of the points in our summary then why not get in touch and we will see how we can help you [xyz-ihs snippet= Read more

  • One business or two for VAT?

    Posted: 17 Jul July|Tax news,

    Where the same person carries on several businesses, the combined turnover of all those businesses needs to be considered in deciding whether or not the VAT threshold is exceeded. In fact, HMRC have been successful in a number of cases in aggregating the turnover of two businesses carried on by the same person(s). In a recent case, a VAT Tribunal had to decide whether two hairdressing businesses should be treated as a single business for the purposes of VAT registration. The distinction was critical as the two separate businesses were operating below the registration limit (currently Read more

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