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Month: Aug 2022

Six-fold increase on late payment interest rates

22nd Aug 2022

HMRC late payment interest rates have now been raised six times during 2022 – from 2.6% at the start of the year to a current rate of 4.25%. However, at least there’s some good news, with an uplift to the tax repayment rate. The charge for late payment is set at base plus 2.5%. So, … More Six-fold increase on late payment interest rates

Six-fold increase on late payment interest rates

Getting in touch: HMRC’s new email facility

15th Aug 2022

Although there is no general facility to contact HMRC by email, it is slowly moving into the 21st century by providing the option to receive an email response. But of course, this comes with a few conditions. Dealing with HMRC by post can be a slow process. With resources having been spread more thinly than … More Getting in touch: HMRC’s new email facility

Getting in touch: HMRC’s new email facility

The rise of mini umbrella company fraud

1st Aug 2022

The rise of mini umbrella company fraud continues to concern HRMC which has recently updated its guidance for businesses that either place or use temporary labour. Mini umbrella companies can be used to abuse the VAT flat rate scheme and the national insurance contribution (NIC) employment allowance. The VAT flat rate scheme can only be … More The rise of mini umbrella company fraud

The rise of mini umbrella company fraud

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