HMRC Target Illicit Fuel Sites

A filling station in County Down has had its pumps removed after HM Revenue & Customs suspected the sale of illicit fuel.

During the operation, (Wednesday 10th December), two separate sites were visited; an oil storage depot where 4,000 litres of suspected illegal fuel were seized, and a filling station where working with specialist contractors, HMRC carefully removed its fuel pumps and an overground fuel storage tank.

National Oils Co-ordinator, HMRC, Pat Curtis said: "Selling illicit fuels creates an unfair playing field and seriously undercuts legitimate traders who should be able to operate without the threat of unfair competition. Retailers who sell illicit diesel will not only face seizure of fuel and equipment from their premises, but also risk losing their license to trade.

"Anyone with information on fuel misuse or suspicious activities can contact the Customs Hotline on 0800 59 5000."

There are ongoing information into the filling station and storage site.

Fraudulent Handyman Sentenced

After working as a handyman for more than 20 years, Norfolk man Richard Green, has been imprisoned for three years after deceiving the tax system out of roughly £169,776. The 63 year old confessed to being self-employed since before 1992 without paying an ounce of tax, National Insurance, and failing to register with HMRC.

Assistant Director Criminal Investigation, HMRC, Paul Barton said:

"Green admitted that he should have paid tax on his self-employment but failed to do so. This fraudulent activity is not acceptable when the majority of people pay their dues and play by the rules. If you know of anyone committing tax fraud, you can report them by calling our 24 hour hotline on 0800 59 5000."

On 16th December 2014, Green was sentenced by Norwich Crown Court to three years imprisonment. The fraud was uncovered during HMRC's investigation where officers failed to find any tax returns from himself. Green had told HMRC that his earnings from self-employment reached between £15-£25,000 but after officers checked his bank records for 2007 - 08, they found an income of almost £70,000.

He was charged with Cheating the Public Revenue on 13th November 2013 and pleaded guilty on 26th February 2014.

Nottingham Based Beautician Sentenced For Tax Fraud

After cheating the taxpayer out of over £30,000, a Nottinghamshire beautician has been sentenced due to lying about her personal circumstances and income. 30 year old mother of one, Rebecca Eddishaw, failed to inform HM Revenue & Customs that she was receiving two incomes from renting out two separate properties when claiming tax credits.

Assistant Director, Criminal Investigation, HMRC, Stuart Taylor stated: " Eddishaw knowingly carried out this fraud for four years. She purposefully left out her extra income so that she would receive higher tax credits payments, while also failing to pay tax on the rent money she received. 

HMRC recognises it is only a minority that are exploiting the system, but we would encourage anyone with information relating to tax credit fraud to call 0800 854 400."

Over a four year period, 2009-2013, Eddishaw failed to declare her property earnings; averting paying more than £13,797 in tax and receiving a higher rate of tax credit, meaning she was overpaid by nearly £16,941.

At Nottingham Magistrates Court, 9th June, Rebecca Eddishaw was charged for three offences:

'Knowingly concerned in the fraudulent evasion of income tax by failing to declare rental income in tax returns to HMRC.'

'Knowingly concerned in fraudulent activity undertaken with a view to obtain payment of Tax Credit by failing to declare rental income.'

'Knowingly concerned in fraudulent activity undertaken with a view to obtain payment of Tax Credit by failing to declare a change in circumstances.'

At the Plea and Case Management Hearing on 6th October, Eddishaw pleaded guilty to all three charges, and on 9th December received an 18 month prison sentence, suspended for 18 months and has been ordered to fulfill 150 hours of unpaid work. 

Self Assessment for Company Directors

Are you self employed, a partner in a business or a company director? Then you should be aware of the approaching deadline for your Self Assessment Tax Return.

This year, your returns must be submitted to HMRC by 31st January. Any submissions after this date will result in a £100 fine for late filing, and £10 daily penalties will come into effect if returns are still outstanding after 3 months, unless HMRC believe there is a valid reason resulting in this late submission. Examples and all information can be found on https://www.hmrc.gov.uk/online/excuse-missed-deadline.htm, however each case is different and will be considered individually.

If the deadline cannot be met, HMRC must be informed as soon as possible as there may be the option of an extension, or the opportunity to pay in instalments, but this will only apply if contact is made prior to the 31st.

If you need your tax return completed by an accountant, contact U-Tax on 01564 732174. We'll complete your return, have it submitted on time and correspond with HMRC on your behalf, all for just £75 + VAT.

Illegal Tobacco Factory Located in Hampshire

HMRC have uncovered an illicit tobacco processing factory at an industrial unit in Bishop's Waltham, Hampshire.

On November 19th after raiding the tobacco factory, HMRC officers discovered around a tonne of tobacco and counterfeit tobacco pouches along with duty labels and processing machinery. The unit was located after two men were arrested at a road check led by Warwickshire Police at Warwick services, M40. Their van was holding roughly half a tonne of processed tobacco.

HMRC's Assistant Director, Criminal Investigation, John Cooper said:

"Working closely with our partners at Warwickshire Police and the Driver and Vehicle Standards Agency, we have uncovered and closed down an illegal tobacco processing operation. Disrupting criminal trade is at the heart of our strategy to clampdown on the illicit tobacco market, which costs the UK around £2.1 billion a year in lost revenue. This is theft from the taxpayer and undermines legitimate traders. Anyone with information about the illegal production or sale of tobacco should contact the Customs Hotline on 0800 59 5000."

The tobacco confiscated could have filled 30,000 50g tobacco pouches, evading roughly £300,000 in duty tax.

The men; a 36 year old from Portsmouth, and a 28 year old from Glasgow, were both arrested on suspicion of involvement of fraudulent evasion and have been interviewed by HMRC. They are released on bail until May 2015. No further information has been reported at this point as investigations are still under way.

London Doctor Sentenced for Tax Evasion

A London GP has been sentenced for tax fraud after an investigation by HMRC discovered he had under-declared his income by £700,000.

Over an eleven year period, Khaled Yasin was paid a total of £1.3 million working as a forensic medical examiner for the Metropolitan Police, where he only paid tax on £655,955 on that amount, and owing £50,000 in interest. The fraud was discovered following a campaign to tackle undeclared tax from doctors and dentists by the HMRC Tax Health Plan.

Assistant director of HMRC's Criminal Investigations, David Margree said: "Yasin thought he could get away with the fraud because he had declared some of his earnings- he was wrong. This was a serious breach of Yasin's professional standards. Had he come forward in 2010, and used the voluntary disclosure campaign to put his financial affairs in order, he could have avoided a criminal record and serious damage to his reputation."

The evasion took place between April 2002 - April 2011 where Yasin also worked for a health centre in Brentford, Hounslow, during this period.

At Isleworth Crown Court, Friday 14th November, Khaled Yasin was found guilty of cheating the public revenue and sentenced to two years imprisonment along with a two year suspension and an order to complete a 200 hour community punishment.

Watch our video on Self Assessment.

The deadline is drawing in!

U-Tax Accountancy Services - Youtube channel

U-Tax now have a new Youtube account, featuring videos on all of our services on offer.
If you are based in the West Midlands, United Kingdom, and are looking for a local accountant or are interested in our services, get in touch today on 01564 732174.

Watch our videos here:
https://www.youtube.com/channel/UCALWO5j3ZGQ3dZ9soX6vk9w

Also, bear in mind that the Self Assessment Tax Return deadline is approaching. Paper based returns must be submitted to HMRC by October 31st at the latest.

Our Company Accounts Services

U-Tax are proud to offer three package deals regarding our company accounts services, and with the most competitive fees on the market, it is hard to resist becoming a part of our company.

In order to spread the cost of the fees, you can pay monthly; this way you know exactly where you stand. So take a look at some of our brilliant offers, all of which have a 2 year guaranteed deal available.

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(All prices exclusive of VAT)

Not only this, but if you are self-employed, we can offer you a price of £75+VAT to complete your Self Assessment Tax Return, corresponding with HMRC on your behalf.

For information on our company accounts, get in touch with us today on 01564 732174,
or for our Self Assessment services, call us on 01564 732178.
You can also visit our website www.u-taxaccountancyservices.co.uk.

U-Tax Accountancy Services

U-Tax Accountancy Services: A partner in your business

About U-Tax

With over 70 years’ experience in accountancy, and tax & financial planning, U-tax is a leading UK tax agent recognised by HM Revenue and Customs. We commit our time to helping small-medium sized businesses, limited companies and individuals with any tax and accountancy needs, including completing self-assessment tax returns for our self-employed customers.

Whilst offering some of the most competitive rates on the market, we aim to constantly update our services and evolve our business, ensuring you and your business gain confidence and trust in our facilities by openly communicating with our customers.

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·         Annual Accounts

·         Annual Payroll Returns P14/P16

·         Annual Accounts – Companies House

·         Corporation Tax (Return & Computation)

·         HMRC Correspondence

·         PAYE Registration

·         Payroll

·         Self-Assessment

·         Tax Advice

·         VAT Computations

·         Tax Investigation Insurance

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Self Assessment and the Construction Industry Scheme (CIS)

Tax Returns and the CIS

If you work in the construction industry then you will come under the Construction Industry Scheme. Working under this scheme means that you will pay your tax and receive returns differently to other businesses and trades.

As a contractor or subcontractor, your tax rate is generally 20% of your entire earnings, whereas under the PAYE system, taxpayers of various other trades are provided with a tax-free threshold, which is an inbuilt allowance into their earnings. Essentially, this means that contractors would be paying more tax annually than other workers, which is where the CIS returns come in. In order for HMRC to work out how much tax has been overpaid, contractors under the CIS are required to submit a tax return. This allows HMRC to work out how much you are owed back in a return; in essence repaying the ‘tax-free’ allowance that you would not have got prior to this.

These returns can be completed from April 6^th every year, and similarly to a self-assessment keeping records of expenses can help to maximise your refund. Contractors can receive help in completing and filing these returns, however the majority of accountants or CIS rebate firms will charge a figure upwards of £350 to do this for you.

Using U-Tax

U-Tax offers two choices of payment, both at a great price. The taxpayer can opt into paying £100 plus VAT upfront, or can choose to pay when the rebate has been received at a rate of 10% of rebate (subject to £100 minimum). Through using our services, U-Tax will offer:
 ·         Your CIS return completed by an accountant
·         Thorough and comprehensive return service
·         By using their knowledge, you will receive a maximum refund
·         Payments issued by HMRC
·         Your key account manager will always be on hand

Self Assessment Tax Returns: Self Employed Industries

Self-Assessment for Carers

If you are self-employed and have a job in the care industry, there are many reasons why you may be eligible to receive a tax rebate, but to do so it is important to fill out a self-assessment tax return first. The deadlines for self-assessment tax returns are closely drawing in, so be aware of how you want to submit yours: If this is going to be completed on paper, returns must be sent to HMRC by 31^st October at the latest. If it is an online submission, the deadline is 31^st January. It is important to be aware of the fines issued by HMRC if returns are not filed in due time. HMRC charge a fixed penalty of £100 for late submission, with increases on this dependent on the length of the delay.

As a taxpayer, you can claim back for up to four years, including rebates on…

• ·         Mileage

Many care workers will use their own vehicle for work; such as for visiting patients in their own homes or in care homes. If this is the case, you could be entitled to claim tax back at a rate of 45p per mile. Bear in mind however, that HMRC will not consider driving to and from work (i.e. normal commuting) as business mileage, so this is not something you will be able to claim on. To guarantee a rebate, ensure you log your mileage incorporating dates and distance. Keeping a record of such information is important for self-assessments to be completed.

• ·         Uniform

A second factor to take into consideration when self-employed in the care industry is uniform. If laundry facilities are not provided and you have to wash your own uniform at home, you are entitled to a rebate, but note that HMRC insist on it being a recognisable uniform only worn for work purposes, or a uniform with a specific logo on. Wearing your own clothes to work will not be considered. More information can be found on http://www.u-tax.co.uk/jobs/carers-allowance.

So what can U-Tax do?

For just £75+VAT, U-Tax will deal with all of your queries regarding self-assessment. This includes completing your tax return for you, calculating how much you can claim back, filing your return to HMRC, dealing with HMRC on your behalf, and being available to help with any issues or questions you may have.

Self Assessment Tax Returns: Self Employed Industries

Self-Assessment for Hairdressers

HMRC must be informed as soon as possible if you believe that you need to file a tax return. The best way to do this is online at www.hmrc.gov.uk, but you can also register on a paper form. For this you will need your personal details, including your National Insurance Number. It is also important to note that if you are self-employed, information regarding self-employment will be needed too, such as when you started up your business, and the nature of your trade.

Once this has been done and HMRC have sent you confirmation of registration for self-employment, you should have received your Unique Taxpayer’s Reference (UTR). This is imperative for completion of a self-assessment tax return. A return should inform HMRC of your taxable income, gains, and expenses. If you choose to submit your return on paper, this needs to be done by October 31^st following the end of the relevant tax year. However you can also opt into online submission, in which case the deadline is January 31^st.

Failure to file a tax return by the deadline date results in an automatic fixed penalty of £100 issued by HMRC, unless there is reason to believe you have a ‘reasonable excuse’ for late or lack of submission. More information can be found on the HMRC website. As a self-employed worker, it is important to keep all records of incomes and expenditure. HMRC will need this to work out how much tax you need to pay, but documentation of expenses is also important on your behalf as you will be able to claim back on some of this. 

As a hairdresser, the most common expenses you can claim on include:

• Beauty and hair products
• Consumable equipment
• Protective clothing and uniforms
• Courses attended
• Laundry and cleaning
• Computer for work
• Postage and stationary
• Advertising
• Fares and travelling expenses*

*If you use your own vehicle, the running costs will also need to be factored into your expenses. Information regarding HMRC’s Fixed Scale Mileage Rate can be found on their website.

U-TAX

If you are having trouble with completing your self-assessment tax return, get in touch. U-Tax will be able to do it for you at just £75+VAT, including liaising with HMRC on your behalf. With a fast turnaround rate; generally just 24 hours, have a look at www.u-taxaccountancyservices.co.uk for details on the services U-Tax offer, along with all contact details.

Self Assessment Tax Returns: Self Employed Industries

Self-Assessment for Taxi Drivers

All self-employed taxi drivers will need to complete an annual self-assessment. It is in the hands of the individual to decide whether they submit a paper based tax return, or opt into completing it online, but there are set deadlines for either choice. If you choose to complete a paper return, this must be filed by 31st October, whereas the deadline for online submission falls on 31^st January.  Failure to complete a self-assessment on time will result in a fine from HMRC; a day late can result in a £100 penalty fine.

It is important for a self-employed taxi driver to keep all documentation regarding their earnings, including records of all expenditure, fares, and tips, as HMRC may need to check this information in detail. A lack of such documentation may result in the process taking longer than necessary, along with the possibility of taxi drivers paying more tax than they ought to be. As self-employed workers are able to claim back on allowable expenses, it is worthwhile to file all relevant information.

These allowable expenses for taxi drivers include:

• Petrol or diesel costs
• The cost of servicing and running the taxi
• The costs of your annual road tax and your MOT test
• The cost of washing or cleaning your own taxi
• Interest on any bank or personal loans taken out to purchase your taxi
• Your license
• The cost of running your office including the payroll cost of any staff employed
• Vehicle insurance
• AA/RAC membership
• Radio hire
• Accountancy fees
• Advertising
• Phone usage for business use

It is important to note that if you are self-employed and using own vehicle for work purposes, you can claim back on your mileage, however for taxi drivers, this is not possible as fuel costs are already factored into allowable expenses.

So what can U-Tax do?

We can complete your self-assessment tax return for you. Our special offer of just £75+vat is guaranteed to beat other prices on the market. Our service is time-effective and stress free, working with HMRC on your behalf in order to leave you to concentrate on your other business matters.