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Every business using temporary labour should be aware of the potential for mini umbrella company fraud in their supply chain, which is why HMRC recently released updated guidance on this issue.
No matter which industry you work in, a fraudulent mini umbrella company (MUC) could pose serious risks to your business. Not only will you be participating in criminal activity if you get caught up in a tax fraud scheme, but the financial and reputational damage could destroy your business.
Not to mention that MUCs abusing the VAT Flat Rate Scheme and National Insurance contribution allowances will result in your workers not receiving the money and tax benefits they’re entitled to.
This blog explains everything you need to know about mini umbrella company fraud, including how to look out for it and what you should do if you need to report a mini umbrella company to HMRC.

For the sixth time this year, interest rates will be increasing next month from 11th October 2022.

Starting at 2.6% at the beginning of 2022, the most recent increase was 4.25% just last month, following the Bank of England’s decision to raise their base rate from 1.25% to 1.75% in August.

Now, in September, the Bank of England Monetary Policy Committee has voted to increase the base rate yet again to 2.25%. Since HMRC interest rates are linked to the Bank of England’s base rate, this means that HMRC interest payments – which went up last month – are also going up in October.

There is still no facility for contacting HMRC by email, but there is now the option of receiving a response by email when you contact HMRC.

As anyone who has dealt with HMRC by post will know, it can be a very slow process. With resources stretched further than ever by the combination of Brexit and COVID-19, it’s taking HMRC a long time to work through the ever-growing backlog of post.

This has prompted HMRC to slowly move into the twenty-first century by providing the option to receive responses by email, instead of waiting for a letter or phone call.

Of course, there are risks to all kinds of communication with HMRC – here’s what you need to be aware of, and what you need to do to opt in to receiving emails from HMRC.

Working through Inheritance Tax (IHT) is difficult after any death. The residence nil rate band (RNRB) provisions for spouses or civil partners can be especially confusing to navigate.

For example, when the second individual passes away, any unused RNRB left over from the first individual’s death can be relieved – but some executors are using the value at the first person’s date of death to claim this, when they should be using the second person’s date of death.

It doesn’t seem like HMRC has been picking up on this error, so if you think a mistake has been made in RNRB relief value in a case like this, then you’ll have to write to them yourself.

This blog explains the basics of residence nil rate band relief and what to do if you need help with claiming RNRB transfers.

The latest data from HMRC shows that Inheritance Tax (IHT) receipts from the Treasury have doubled in the last decade.
While it was once seen as something that only the wealthy would have to worry about, more and more people are finding themselves liable for IHT.
But what exactly is an Inheritance Tax receipt, and why are so many people having to pay?
This blog explains what’s going on with IHT and what you can do to reduce your own liability.

Companies that claim tax relief or tax credits on research and development (R&D) expenditure will see some changes to the system for accounting periods starting from 1st April 2023.

Several new activities will qualify for R&D relief, but the process for making R&D relief claims will be different. Not only will the service go completely digital, alongside many other tax services, but the rules are also being adjusted to try to reduce fraudulent R&D claims.

Here’s what you should know about the R&D tax relief changes that will come into effect next year.