HMRC Inheritance Tax Recovery Soars
Targeted efforts yield high returns from unpaid inheritance tax as HMRC recovers £285 million from 3,028 investigations.
HMRC interest rates for late and early tax payments rise… yet again
With the Bank of England’s base rate and HMRC’s interest rates being tightly knit, the Monetary Policy Committee’s decision on 2 February 2023 to increase the base rate to 4% has forced HMRC’s hand in increasing the interest rate for late paid tax and the rate paid on repayments of tax.
HMRC Issues Fraudulent Umbrella Warnings to Workers
HMRC continues to ramp up its efforts to expose and eliminate tax avoidance within umbrella company arrangements, with its latest Spotlight 71 guidance placing renewed focus on worker protections and supply chain accountability.
HMRC targets company directors
HMRC are undertaking a review of company directors to ensure that they are submitting complete and correct self assessment tax returns.
HMRC turns its sights on Scottish employers
HMRC has announced that the next area of focus for National Minimum Wage (NMW) reviews will be Central and East Scotland.
HMRC Voluntary National Insurance Service Update
HMRC has launched a new online voluntary NICs payment service, the government says the new service will make it easier for customers to check for and fill any gaps in their National Insurance record to help increase their State Pension.
HMRC’s new VAT deferment scheme explained
HMRC has updated guidance on how to register for the online service to pay VAT payments deferred between 20th March and 30th June 2020 due to the covid-19 pandemic.
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Dains is an independent provider of expert business advisory and accounting services, providing end-to-end business support, with bespoke advice tailored to your unique business and personal needs.
Home swapping holidays – beware of possible hidden tax
Home swapping is becoming an increasingly popular way to holiday – with the attraction of high-quality accommodation at a much-reduced cash cost.
Horizon Capital
Hospitality
As experienced hospitality accountants for the hospitality industry, we provide the essential support and advice to ensure your business not only survives, but thrives.
How Dains and Dalduff Transformed a Family Legacy
2019 was a year of celebration for The Ayrshire Wedding Barn and Farm Shop at Dalduff.
How Recruitment Agencies Can Lose The Right To Recover VAT
Dains Partner Sam Davies and Employment Services Team Assistant Manager Jack Bonehill explain how the Kittel Principle can prevent a recruitment agency from recovering VAT and recommend how to mitigate this.
How Regional SMEs Bounced Back
How have small and medium businesses bounced back from the past few years of turbulent trading conditions and why are they key to our economy.
How strategic thinking on VAT could improve your cash flow
In this article we look at the 14 ways that VAT could impact and benefit your current cash flow situation, which is especially prevalent during COVID-19.
How the Morton Family and Dains Turned Dairy Dreams into Modern Success
David and Gillian Morton run their dairy business at Auchinbay Farm, Ochiltree, Ayrshire.
How to avoid tax charges for overdrawn director’s loan accounts
In a personal or family company, the lines between the directors as individuals and the company are often blurred – the director may lend money to the company when cash flow is tight and the company may lend money to the director or pay personal bills on the director’s behalf. Transactions between the director and the company are tracked via the director’s loan account.
HS2 Refer to HMRC: Potential Large Fraud
There has been widespread media coverage reporting that HS2 Ltd had self-referred to HMRC regarding a potential large-scale fraud involving the supply of labour to one of its subcontractors.
IK Partners to acquire majority stake in Dains alongside management
IK Partners is pleased to announce that the IK X Fund has signed an agreement to invest in Dains Accountants.
Important Changes to Alcohol Duty Rates on 1 August 2023
As a CFO or finance director, staying up-to-date with changes in taxes and duties is essential for managing your company’s finances. One such change that will occur on 1 August 2023 is the revision in alcohol duty rates. The UK government has announced that alcohol duty rates will increase, affecting businesses involved in the production, wholesale, and retail of alcoholic beverages.
Individuals
Ensuring the security and well-being of your loved ones through private financial planning is undeniably paramount. At the heart of your life’s priorities is the assurance that your family will be well provided for in the future, and at our core, this commitment resonates deeply with us. We understand that the responsibility of securing your family’s financial future is a cornerstone of your life journey, and it is a responsibility we take on with utmost dedication.
Infrastructure Engineer
Dains is actively seeking a skilled Infrastructure Engineer at their Birmingham office.
Inheritance Tax
Dains knows that, with careful planning and a close working relationship, we can help you and your family to do all you can to protect your wealth for future generations.
Insights
Explore a wide array of quality insights designed to support you, answer your accountancy questions, and help you stay up to date with the latest financial news as well as company updates.