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Articles by Barbara Bento
Electronic Sales Suppression (ESS) Campaign
Introduction HMRC is stepping up its campaign against users of ESS tools. Find out the latest developments, what it means for you or your clients, and the actions that need to be taken. What is an ESS tool? An ESS tool is any physical device, software, code, digital data or any other tool that can suppress “relevant electronic sales” records. An example of this is till software that only ‘records’ one in every three sales.
Football agent fees: HMRC updates its guidance
How can we help Should HMRC query the ‘commercial reality’ of a dual representation contract, specialist representation should be sought at the earliest opportunity. This will ensure HMRC does not exceed the powers it has available to request certain information, reducing the evidentiary burden on the taxpayer.
Tax Investigation Advice | Buzzacott
HMRC is under increasing pressure to deliver results and recoup any lost tax. Regardless of whoever you are and whatever you do, being subject of a tax investigation or dispute can be extremely stressful and disruptive for you and your business. Dealing with HMRC in an effective, professional and commercial way has never been more important.
HMRC continues to investigate hundreds of professional footballers
How can Buzzacott help? If you’re a footballer, agent, or representative and are concerned about you/your client’s tax position, we urge you to seek specialist tax advice prior to HMRC discovering errors. Buzzacott can review you/your client’s financial affairs to ensure that protective measures are put in place to avoid errors, and/or to confirm that reporting and compliance requirements are being met, even if they are not currently facing an HMRC investigation.
HMRC targets online sellers and content creators/influencers
What UK tax am I required to pay on online income? What UK tax am I required to pay on online income? A digital marketplace is any platform bringing buyers and sellers together online to transact products or services. The classic example is eBay. While the sales can be made anywhere in the world, individuals who are UK resident and undertake a trading activity are required to report their worldwide sales to HMRC and pay income tax on their profits.
Electronic Sales Suppression (ESS) disclosure facility
What’s an ESS tool? An ESS tool is any physical device, software, code, digital data or any other tool that can suppress “relevant electronic sales” records. An example of this is till software that only ‘records’ one in every three sales. The business will receive payment for all three sales, but when the sales records are collated, two-thirds of the sales won’t be accurately recorded.
HMRC launch new campaign
HMRC has launched a new campaign to address non-compliance linked to non-UK companies owning UK property. Find out more about the campaign, what it means for you (or your clients), and what action needs to be taken here. Non-resident landlords Non-resident landlords Offshore corporates that receive rental income from UK property must report that income and pay tax in the UK. Since 6 April 2020, this has been done via the Corporation Tax system rather than the SA700 forms required previously.
Is remote ADR mediation the (only) way forward?
The risks of virtual mediations Factors such as body language and eye contact/movement, which enable the mediators to make judgements and intervene at the appropriate time creating momentum, are harder to assess virtually. Whereas we primarily use words to communicate, ‘nonverbal’ messages provide valuable insight with regards to what people are really trying to convey. Holding discussions in a virtual environment sacrifices this key benefit that would be available in F2F mediations.
Should you trust that HMRC’s data is always correct?
Appeal – strike out The appeal proceeded to the First-tier Tax Tribunal (FTT). However, HMRC’s Solicitor’s Office countered by applying to the FTT requesting that Mrs K’s appeal be struck out, on the basis that it was fanciful with no realistic prospect of success. In front of a FTT Judge, HMRC claimed that the information it had received from the insurer was irrefutable and, therefore, the assessments should be allowed to stand. Thankfully, common sense prevailed.
Dancer successfully challenges HMRC
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