Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 20th January , 2023

1.8m over-65s forced to file tax returns Nearly two million over-65s including many motorsport business owners now have to file tax returns, according to HMRC data. More than 1.8m over 65s had to fill out a self-assessme[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 18th January , 2023

Covid fraud task force ‘not best value’ for UK taxpayers, admits HMRC HMRC will be closing its Taxpayer Protection Taskforce, set up in 2021 to recover billions lost through COVID-19 financial aid schemes, s[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 17th January , 2023

Late-payment fines system ‘prohibitive’ – Barclay Small Business Commissioner Liz Barclay has suggested she would not support proposals to fine companies guilty of slow and late payment of suppliers, sa[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 16th January , 2023

HMRC now charging 6% interest fee for unpaid tax HMRC has increased the interest rate it charges on unpaid income tax, national insurance, capital gains tax, stamp duty, corporation tax and inheritance tax by 0.5 percen[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 13th January , 2023

MPs demand answers over HMRC call delays MPs on the Treasury Committee have expressed “serious concern” over HMRC’s ability to answer taxpayer calls, writing to chief executive Jim Harra to ask if the [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 12th January , 2023

HMRC steps up IHT probes following boom in property prices HM Revenue & Customs clawed back a record £326m through investigations into inheritance tax last year. Data obtained by the insurer NFU Mutual show th[...] continue reading