6 Different Types of VAT Fraud Schemes
VAT fraud presents a substantial challenge within the UK’s taxation ecosystem, as a range of intricate schemes exploit vulnerabilities inherent to the Value Added Tax structure. These fraudulent activities not…
Does HMRC Debt Affect Credit Rating?
HMRC debt does not usually have an impact on your credit rating unless you are declared bankrupt. This is because HMRC is not a credit reference agency and they do…
HMRC Bounce Back Loan Investigation
HMRC Bounce Back Loan investigation refers to a process initiated by Her Majesty’s Revenue and Customs, the UK government’s tax and revenue collection agency, to examine potential cases of fraud…
Where are HMRC offices located in the UK?
It’s well known that it can be rather difficult to get into contact with HMRC; especially when trying to speak to to an individual department. They operate in multiple offices…
VAT: What is it and the rates for Value-Added Tax in 2024
In the dynamic world of running a business, your perspective on value-added tax (VAT) undergoes a transformation. VAT not only influences your company’s accounting and cash flow but also introduces…
HMRC Criminal Investigations
HMRC Criminal Investigations is responsible for investigating serious tax fraud and other financial crimes. Receiving an HMRC criminal investigation letter is a serious matter, indicating that you are under suspicion…
What Happens if I Charge VAT and I’m not VAT Registered?
Should I charge VAT if you’re not VAT-registered? First and foremost, it’s essential to understand that you shouldn’t impose VAT if your enterprise isn’t VAT-registered. Nonetheless, businesses that are VAT-registered…
Late VAT Payments: Surcharges, Penalties and Fines: Advice for limited company directors
Late VAT payments can have significant consequences for businesses and individuals alike. When VAT payments are not made on time, authorities often impose surcharges as penalties. These surcharges are additional…
Corporation tax: What happens if you file late
Corporation tax is a significant tax imposed on the profits earned by companies and businesses. In the United Kingdom, companies are required to submit their corporation tax returns to HMRC…
What action can HMRC take if I fail to respond?
If you, as a business owner of a limited company, choose to ignore or fail to comply with HMRC obligations, serious consequences may arise. HMRC is responsible for enforcing tax…